Football pundit Jamie Carragher made light of a significant tax bill that could lead to bankruptcy during CBS Sports' Champions League coverage on Tuesday. The jokes came less than a week after Her Majesty's Revenue and Customs (HMRC) filed a petition at the High Court in London to have Carragher declared bankrupt over unpaid taxes reportedly in the region of £700,000 to £800,000.

During the broadcast, host Kate Abdo referred to Carragher's "depleted bank account" in a humorous segment. Carragher, a former England international and Liverpool legend, responded with laughter and later joined in the self-deprecating humor.

When previewing Barcelona's match, Carragher quipped, "They (Barcelona) have probably had financial problems, haven't they. Well, haven't we all." His co-pundits, including Micah Richards and Thierry Henry, appeared amused.

HMRC stated that it takes a supportive approach to customers with tax debts and offers solutions like installment plans, adding that bankruptcy petitions are a last resort. The agency does not comment on individual cases.

A spokesperson for Carragher said the matter is a "private tax matter that should have been resolved sooner" and that "appropriate steps are being taken today to settle it." The spokesperson indicated the issue would be resolved imminently and would not proceed further.

Carragher, 48, is involved in several business ventures, including directing four firms and serving as an LLP member for another. Beyond his Champions League work with CBS Sports, he is a regular pundit for Sky Sports and contributes to The Overlap podcast. He also founded the 23 Foundation, which supports young people in Merseyside, and co-founded Football For Change, an initiative addressing child poverty.

Carragher has been married to his wife Nicola for 21 years and they have two children: James, a footballer for Wigan Athletic, and Mia, an actress and model.