Marca carry a report from Dutch media outlet Voelbalzone that states that the former high-profile player was declared bankrupt by the District Court of Zeeland-West-Brabant on Tuesday.
Drenthe is quoted by the report as saying that he is “not easily scared by such things” while an accountant has now been assigned to control the assets of the Dutchman.
Now aged 33, Drenthe is currently playing for Kozakken Boys in the Dutch third tier and he has accepted responsibility for his negligence, having failed to appear at the hearing while his lawyer was on holiday.
The Dutchman spent three seasons at the Bernabeu after joining from Feyenoord in 2007 but surprisingly quit football altogether in 2016, aged just 29.
Drenthe made 65 appearances across three seasons at the Bernabeu between 2007 and 2010 before the Rotterdam-native was farmed out on loan to Hercules and later Everton.