David Beckham and other footballers could lose millions of pounds after buying expensive apartments in Dubai.

The 34-year-old is not the only footballer that has invested in the £1 million villas on the islands shaped like a palm tree.

Other Premier League players to have bought property include Michael Owen, David James, Joe Cole and Kieron Dyer.

However, the developer Nakheel has now run out of money and said it is no longer able to pay its debts. There are now fears that the Palm Jumeirah project may not get finished.

The players’ expensive pads could then be situated next to an unfinished construction site, which could see the price of their properties dropping.