England rugby legend Lawrence Dallaglio is selling his World Cup winner's medal as he confronts his ongoing financial troubles following his 'excessive spending' and bitter divorce from his wife.

The 2003 World Cup winner was declared insolvent last year after he and his wife of almost 20 years, Alice, divorced.

It ended with Dallaglio being forced into selling their Richmond family home for £2.4million last May, after it had been put on the market for £3.3million months earlier.

The day after the sale, the former rugby star was declared bankrupt and was ordered to hand over his share of the proceeds to pay off an overdrawn directors loan of more than £366,500.

Typically, restrictions imposed by bankruptcy end after 12 months in England and Wales but they can be extended by a judge, something that was done in May for Dallaglio for three months until August 7.

However, the restrictions were extended last month, with reports suggesting he had continued spending - leaving 'nothing' to pay his debts. 

Now, the former England team captain has put his winners' medal up for auction with an estimate of £50,000 to £80,000.

He was part of the side which beat Australia on their own turf in 2003 to lift the William Webb Ellis trophy following Jonny Wilkinson's dramatic extra time drop goal.

Dallaglio, who played 85 times for England, is also parting with his 2007 World Cup runner's up medal which could go for £10,000.

His 2003 Six Nations winner's medal from England's Grand Slam campaign is valued at £5,000.

Dallaglio, 54, is also selling his medals from his illustrious club career with London Wasps.

He won two European Cups and three league titles captaining the club, which are all being sold with individual estimates of £8,000.

His British and Irish Lions cap is priced at £5,500 and his England cap could achieve £5,000.

The overall collection, which also includes his player of the year awards, is set to raise £180,000 at auctioneers Budds, of Wellingborough, Northants.

Budds said of the World Cup winner's medal: 'It was presented to Dallaglio on November 22, 2003 in Sydney, following victory in the Rugby World Cup Final against host nation Australia,

'England defeated Australia 20-17 after extra time. It was the pinnacle of world rugby and the singular greatest achievement in English rugby history.'

Dallaglio made his England debut in 1995 and retired from the international game following the 2007 Rugby World Cup.

The powerful back row forward played one more season of club rugby, leading Wasps to the 2007/08 Premiership title, before hanging up his boots. He has since worked in punditry. The sale takes place on October 13.