EX-FOOTIE star and manager Iain Dowie faces being made bankrupt after being taken to court by the taxman.Cult hero Dowie, 60 – who coined the term “bouncebackability” – has been hit with the bankruptcy petition by HMRC with a hearing due at the High Court.GettyFormer football manager Iain Dowie faces being made bankrupt after being taken to court by the taxman[/caption]GettyThe cult hero has been hit with the bankruptcy petition by HMRC with a hearing due at the High Court[/caption]It comes almost two decades after ex-Luton, Southampton and West Ham striker Dowie was clobbered with a huge legal bill after leaving Crystal Palace as manager.A court ruled in 2007 that Dowie deceived Palace into waiving a £1 million compensation clause when he quit.And a source said: “It looks like Iain’s financial problems might date back to that legal action – there doesn’t seem to be any other reason for it.“It is a shame for him as he’s such a likeable bloke, but he hasn’t cashed in with punditry as much as some other ex-players and he probably could have done.“But Iain is a bright bloke and I am sure he will bounce back.”After leaving Palace, Dowie joined Charlton – but left the Addicks after just 15 games.His contract contained a clause that Palace would receive £1 million in compensation if Dowie left to join another club.The 59-cap Northern Ireland international worked as a sales manager and a Sky Sports pundit since his football career ended.In 2023, Dowie told how he had landed a new position – as a mortgage advisor at a law firm.He joined Alexander Grace Law, based near Burnley, as a business director leading its re-mortgaging team. Dad of two Dowie, whose wife Debbie was also working for the company, said: “While people may wonder how I’ve gone from the football pitch to the office I have been working within the conveyancing arena for some four years now and when I was asked if I would come on board with them it was a no-brainer.”Last year Dowie – who scored 105 goals in 388 league games – said he was lucky to be alive after suffering cardiac arrest during a spin class at a gym in Chorley, Lancs.After he was treated by other gym-goers and paramedics, Dowie backed calls for more people to learn CPR and said he survived due to the “brilliance of everyone involved”.Dowie famously used the word “boucebackability” to describe a Crystal Palace comeback and it entered the Oxford dictionary in 2005.A spokesperson for the star did not respond to a request for comment.