Bradley Wiggins is disputing a £1 million claim by the liquidator of his company, but has agreed to offer over £600,000 in property as part of an Individual Voluntary Arrangement (IVA) in order to repay creditors and avoid bankruptcy.

According to the Cyclingweekly (opens in new tab) and Companies House public documents published online in September, accounting firm MHA Macintyre Hudson has raised its claim from Wiggins to £979,953.

A company called Wiggins Rights Limited, owned by Wiggins, his ex-wife Kath, and his mother Linda and used to "exploit the name and likeness of Bradley Wiggins," went into voluntary liquidation in 2020 with debts of £650,000. These debts have now increased to £979,953 "as a result of a review of the company's books and records" and the liquidator is struggling to secure repayment of an overdrawn directors loan account of £760,373.

Creditors of Wiggins Rights Limited include the UK tax office HMRC, which has filed a claim for £313,447, and a list of 14 other unnamed creditors who have filed claims totaling £749,223.

The ongoing liquidation is one of several financial issues the 2012 Tour de France winner is battling: in October 2020, Wiggins announced that Wiggins Rights Limited, which owned and operated the Team Wiggins Continental team, and New Team Cycling Limited, which owned and operated Team Wiggins Continental. Wiggins also liquidated another company, 101 Ride Limited.

These companies were liquidated after Team Wiggins closed at the end of 2019. Wiggins ran for Continental for the last two seasons of his career before the 2016 Olympics, winning gold in team pursuit as part of the British team. In recent years, he has been a television commentator for Eurosport/GCN and a VIP guest on luxury cycling holidays.

Wiggins will be firing the pistol next week at the Ghent Six.

According to documents released by Companies House, the UK's company registry (opens in new tab), Wiggins has agreed to an Individual Voluntary Arrangement (IVA) with an offer to repay a substantial portion of his debts with his main asset being a property worth £606,695.

The trustees report that they "requested a meeting with one of the company's directors" but "having received no response" instructed their lawyers to issue a formal letter. The interview was to take place in late October. He also directed the law firm to evaluate the trademarks "Bradley Wiggins," "Wiggins," and "Wiggo."

According to Cyclingweekly, a spokesperson for Bradley Wiggins said he disputes the claim.

In December 2020, a spokesperson stated that "Bradley's involvement with the firm is not routine" and that "this in no way affects Bradley's personal ability to pay."