According to the Brazil Newspaper Folha de S. Paulo, Cafu’s businesses have run up huge debts and five of his properties have been seized to clear some of them.
The failure of his sports agency Capi Penta International Football Player, which he ran with his wife Regina, would have also forced the couple to give up 15 other properties.
“It’s my own problem. I can give up my properties, my car, my house. I can give up what I want to pay my debts,” he was quoted as saying by the newspaper.
The 49-year-old - currently an ambassador for the 2022 World Cup in Qatar - made almost 400 appearances for Roma and Milan between 1997 and 2008, winning two Scudetti and a Champions League.
He is also Brazil’s record appearance holder with 142 caps and is the only player in history to feature in three consecutive World Cup Finals, two of which he won (1994 and 2002).
Cafu was the captain of the Brazil team that won the 2002 FIFA World Cup staged in Korea/Japan.