He played in Liverpool's glory years ... when they had a team capable of winning the title ... yes THAT long ago. And of course he played for the mighty Magpies.

John Barnes has seen a lot of money in his time ... but  he was declared bankrupt by an insolvency court last week.  

Barnes: 'The bankruptcy issue is a tax oversight which is being dealt with.'

To add to his woes, Barnes was sacked as boss of Tranmere earlier this month.