25 Rich Athletes Who Went Broke

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25 Rich Athletes Who Went Broke

Athletes may boast eye-popping sports abilities, but when it comes to money, their inability to control their bad spending habits comes out.

More than two-thirds (78%) of former NFL players are broke or financially stressed after retirement, and 60% of former NBA players go broke five years after retiring,

A very large number (78%) of former NFL players are broke or financially stressed after retirement, and 60% of former NBA players go broke five years after retiring, according to Sports Illustrated.

Broke athletes are practically an epidemic.

Read about the 25 athletes who went broke below, and you’ll understand why.

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  • It always shocks me when i hear stories like this. Not only should they have a manager that should be look after them but they should have a life manager. This can be a friend, college or adviser (basically someone they can trust).

    Most know they are going to have a short career and plans should have been made to make the most of it.

  • Autumn

    Overpaid losers at life.

  • Wow what a bunch of dumb asses. You can tackle or throw a ball fast all you want but you are still a jerk wad who can’t watch two dimes stay in your pocket. I love it! Let’s hear it for the “working schlub”.

  • Hey Jack Clark I have that card if you want to buy it from me…… whoops sorry that was insensitive ……hahahahaha

  • John

    Only have one child if u make $40,000+ a year or have none at all.

  • all idiots

  • C.D.

    A … Fool and His or her … money are soon parted …… Who said dat …. ?

  • CJ

    lets give ’em some credit …..once in their lives they had earned millions….I’ll give you that!!!!!

  • steve davis

    When do we get to add Obama and america to the list?

  • Yeah its me

    They should just name this article “Stupid People”

  • etry bdfe

    That what cootchie will do to you! Pom pom rules!

  • rogerZ

    You must mean add Bush and America to the list. Bush came in with a surplus and left the country in bankruptcy.

    Don’t blame Obama- A hole.

  • damohre

    oh no, blame OBAMA

  • dont forget Cecil fielder, thats why sweet Prince dont talk to his daddy, “cuz he lost my mommas house where she stay” Atlantic city got big daddy money

  • Chuck. Manson

    Other than the older athalites who dodn’t make that much money back in the day, these people had milions of dollors. Why be so greedy and gamble with risky investments. Just put in the bank and live off the interest. I also like how they all blame some one else for their stupid mistakes. What a bunch of losers.

  • Jaloper

    It happens to both black and white.

  • Max

    Antoine Walker should be on the list but he filed for bankruptcy after the article was published. In 99 he’s got a 6 year $71 mil contract with the Celtics and his career earnings are about $110 mil. This is a brief from wikipedia about bankruptcy. Sad, sad, sad.

    On May 18, 2010, Walker filed for Chapter 7 bankruptcy protection in the Southern District of Florida (Miami) as case number 10-23558 with total assets of $4.3 million and debts of $12.7 million. The filing listed four pieces of real estate including a $2.3 million Miami home that is underwater with a mortgage of $3.6 million, and three other properties in Chicago, one listed for $1.4 million. Nazr Mohammed paid half the fee of Walker’s bankruptcy attorney.[16]

  • Its sad these athletes aren’t able to maintain some level of wealth. It must be crushing to their egos.

  • Many of these athletes did not get correct credit education before they enter into the professional sports arena causing them to make poor decisions as they acquire wealth. There are companies out there that teams/organizations should partner with to create more financial stability. One of my clients, Banco Capital Corporation does just that. It offers services such as credit education and restoration. I wish that this was something that the NCAA could implement to help prepare the future stars for tomorrow.

  • This a good article you should read the book “From Athletics to Business” it talks about Why do so many athletes end up in financial ruin? This book uncovers the principles that make athletes and millionaires more susceptible to economic ruin and bad behavior. Discover the 12 universal attributes that athletics teaches that should help mold athletes into prime candidates for post career success. This book may be the first of its’ kind to offer true insight into the epidemic of financial ruin that has plagued athletes for almost a century and offer the solutions to end this affliction.

  • To any athlete who lost it all, don’t worry, there’s always a spot for you over at American Jewelery & Loan.