Don’t Ask These Guys for Money
The 21 modt shockingly broke athletes...
(I’m pleased that no ND man made this list. We have had a few bad cases, but none to this extent.)
1. Mike Tyson – Tyson earned more than $30 million per fight and somehow squandered a $300 million peak fortune before declaring bankruptcy in 2003.
2. Evander Holyfield – After earning $250 million as a heavyweight champion, in 2008 a bank foreclosed on Evander’s $10 million, 54,000 square foot, 109 bedroom Atlanta mansion.
3. Allen Iverson – In February 2012 Iverson told a Georgia judge that he was flat broke and could not pay an $860k jewelry debt. Iverson earned $154 million in salary and $30-50 million in endorsements during his career. Iverson was known to travel with a 50 person entourage, blew millions of dollars gambling, lavished friends with expensive gifts and had massive monthly child support obligations.
4. Michael Vick – After declaring bankruptcy in 2008, over the last four years Vick has spent 95% of his income, roughly $30 million, on taxes, creditors, lawyers and accountants. He currently is worth $1.5 million but in 2011 Vick signed a six year $100 million contract with $40 million guaranteed.
5. Antoine Walker – Despite earning $108 million in salary while playing in the NBA, Antoine Walker had to declare bankruptcy in 2010 listing assets of $5 million and debts of $13 million thanks to bad real estate investments and gambling debts.
6. Latrell Sprewell – Despite earning nearly $100 million during his NBA career, Latrell Sprewell eventually went broke. Sprewell once famously rejected a $21 million contract saying “had a family to feed.” Must be a really big family.
7. Curt Schilling – In May 2012, Schilling announced that he had lost his entire $50 million baseball fortune on a failed video game company.
8. Kenny Anderson – Despite earning $63 million in salary, Kenny Anderson was broke the day he left the NBA. After filing bankruptcy, Anderson became a K-12 school teacher.
9. Lenny Dykstra – Dykstra turned a chain of car washes into an empire that eventually included a luxury airline, Wayne Gretsky’s $17 million mansion and a $60 million personal fortune. Dykstra filed chapter 11 bankruptcy in 2008 listing over $30 million in debts to various banks and law firms. He is currently serving a three year sentence for grand theft auto.
10. Lawrence Taylor – LT’s retirement has been difficult to say the least. Statutory rape allegations, cocaine addiction, bad investments and tax evasion have left the superstar linebacker broke today after earning more than $50 million in the NFL.
11. John Daly – Daly admitted recently that he has lost $50 million gambling during his career. He was also divorced four times leaving him with huge monthly bills and little to no monthly income.
12. Dennis Rodman – Rodman has not declared bankruptcy but he owes over $1 million in child support and other debts despite earning $26 million in his career.
13. Deuce McAllister – After earning millions in the NFL, McAllister’s Nissan dealership in Mississippi went bankrupt in 2009 leaving Deuce broke and liable for hundreds of thousands in debt.
14. Terrell Owens – In 2012, Terrell Owens announced he was broke and without any monthly income. Meanwhile he is paying $120,000 a month in child support and mortgages to four different baby mamas.
15. Warren Sapp – In April 2012, Sapp filed for bankruptcy claiming assets worth $6.5 million and debts of $7 million. The $7 million is owed to the IRS, child support to four different women, and medical bills.
16. Sheryl Swoopes – The first big WNBA star filed for bankruptcy in 2004, listing over $1 million in debt.
17. Marion Jones – The disgraced Olympian was left millions of dollars in debt and without a way to earn income after her steroid scandal.
18. Travis Henry – Henry couldn’t keep up with his massive child support payments after he fathered 11 children with 10 women. He was eventually arrested for cocaine trafficking.
19. Mark Brunell – After retiring, Brunell invested in real estate and bought 11 Whataburger franchises. Unfortunately in 2010 he declared bankruptcy owing $20 million in commercial real estate loans.
20. Scott Eyre – Despite earning more than $17 million in his playing career, the former MLB pitcher lost his entire fortune as part of the Stanford Financial fraud case.
21. Vince Young – After earning $45 million in salary and endorsements, Vince Young is the most recent pro-athlete to go broke.
The following athletes have also declared bankruptcy:
John Arse Riise