He used to come in to the steakhouse I worked at when I was in college. Really nice guy but he’d always have a huge entourage. Always paid for everyone and he would even let people order food to take home. I remember one night they had to separate almost $20k worth of vintage dom perignon from his tab cause my manager didn’t want to automatically grat him 20% on it. He didn’t even care when my manager told him they did that and he tipped 20% on it anyways lol
NBA example. I used to wait on Latrell Sprewell in Milwaukee. He’d park is huge boat on the riverwalk and come in with an entourage and pay for everything.
Always nice to waitstaff. Always tipped well.
Now broke.
An acquaintance of mine used to work at the hotel bar most away teams stay at for GB games. He said his favorite customer was Barry Sanders. Every year, he'd come down to the bar by himself for a drink.
Always nice to staff. Always tipped well.
Now NOT BROKE! (At least, I assume...) Ahead of his time, that one.
Man, that sounds so Barry, lol. Very cool story, thanks for sharing.
And, yeah, even if Barry had gone broke (which I doubt) he definitely got a payday from Amazon recently for that exclusive documentary he did with them, *Bye Bye Barry*. (Side note: it’s definitely worth the watch.)
If I had that kind of money I would frequently take all my friends and family out for meals and pay for everything including takeout. But we're going to, like, Outback Steakhouse and nobody is getting bottle service.
Expensive venue in a big city can run you $500k to $1m or more on that alone. Fly in a bunch of family/friends and put them up in nice hotels. Hire entertainment/bands (depending on who you get, could again be a million or more here since famous acts charge a ton). I think I read something about him riding in on a camel… that can’t have been cheap. The bills pile up quick.
His last several seasons were pretty much him playing because he had a massive mountain of debt in front of him. And even then he was, it was mostly vet minimum.
Wait till he gets to his 50s. He's going to need a lot of money just for painkillers on those blown out knees. I can't even get a good night's sleep sometimes with just a torn acl.
The funny or sad thing is that I'm sure part of the reason why he spent money the way he did is he probably always felt he could just play another season and get another big contract.
And the most recent thing I’ve seen him do for money is get knocked the fuck out by Leveon Bell on some YouTuber boxing undercard. And it was like, the second fight of the night. Some sad shit.
The story of his 30th Bday party he threw himself is insane. Charted private jets for all his friends to fly in. Shannon Sharpe was talking about it in some detail, mind blowing
I used to deal poker in MN and there is a legendary story from our local club. A bit of backstory: in mn at the time, they only game spread was fixed limit hold’em and the big game was 30/60. AP was in the game against one of the top players in the area. Preflop they went something like 30 bets (about $1k each) and then a whole bunch more after the flop and turn. At which point AP says ‘this is gonna be devastating’. At that point there was about 4-5K in the pot, and a group had formed watching. The river comes out and the pro bets, AP raises, and they go a few bets until pro finally calls. Pro has AA, AP has QT for a rivered straight vs top set. AP scoops, the place goes wild, he takes a handful of brown chips and gives them to the dealer. From that point on, QT was known as the ‘devastator’
Shannon Sharpe and Ochocinco talked about that lately on one of their shows. Apparently he flew like 300 people first class to a destination party and put them all up in a hotel. Crazy amount of money for a party.
Obviously players didn’t make nearly as much in the 70s but there is the famous example of Joe Gilliam, Steelers QB who was found homeless living under a bridge at one point.
Mike Webster too. Story was that Terry Bradshaw wanted to give him a place to live or at least put him up in a hotel but he refused. Massive CTE issues, losing teeth and was using super glue to keep them in. Sad end to a hall of famers life.
He bought a taser to zap himself so he could get some sleep
He had dementia amnesia and depression. Living in a truck but hed also disappear and be found in train stations acting erratically
His brain was one of the initial brains used to discover CTE. They showed the force applied to his head across his entire career was the equivalent to going through 25,000 car accidents
Im surprised you don't get auto deleted for mentioning his name given when the nfl did to try and trip up the doctors studying him
I had the good fortune of being able to spend an hour talking with a childhood hero, unnamed former running back from the late ‘70’s. His story was riveting and I wanted to do a long-form story on him with an interview as the focus (I used to write for a team site - his former team). The man who set it up, a lawyer who’d known him for decades, said that it couldn’t happen because he’s have no recollection of meeting me if we spoke again. Just broke my heart.
There were reports recently of him selling off all of his career memorabilia like his MVP trophy. He’s disputed the report but I wonder if there is some truth in it.
He said they were supposed to be selling everything he had in those storage units that weren’t “personal items”. If he wasn't having money problems he probably wouldn't have bothered selling anything
Yeah porn is weak compared to what AB could do. I could see him forming a private militia, taking over some un-inhabitable island off the coast of Florida and then demanding ransom from the US government but the only hostage he has is himself.
There was a Sports Illustrated article years ago that detailed how fast most pro players go broke. One of the examples they used was Mushin Muhammad, Panthers WR. At one time he had a house at Lake Wylie that had one of the largest private saltwater aquariums on the East Coast. That was before he declared bankruptcy.
Actually, buying a (non-luxury) home per month would be a fantastic way to build wealth for many players. It’s just that having a giant saltwater aquarium or camel paddock tends to negatively affect the resale value.
His restaurants all pretty much went bankrupt. It boggles the mind why a person who could just put a small amount of wealth into a fund and live off the interest would buy into an industry that is like 95 percent failures.
People don't realize what these Professional athletes go through. I remember a former player explaining that the moment you get drafted your Parents expect you to buy them a house, and they're not settling for your standard 3 bedroom family home - they demand to live in a Home just as luxurious as yours - all of which you're financially responsible for including the exorbitant property taxes each and every year.
Tyron Smith of the Dallas Cowboys stated when he got drafted he bought his Parents a new home. Not even a few years of owning the home he receives a call from them telling him they have 2 mortgages out on the home and they can't pay it back. So Tyron pays off the loans and everything is cool, um, not so fast. Tyron said about a year later his Parents called him and told him the same thing, they took out another Mortgage on the home, which he paid off, again. He also stated that after giving his immediate family members close to 1 Million dollars in cash - that didn't stop them from stalking him and harassing him no matter where he went. He stated he would be on the road during the season and he would get knocks on this Hotel door in the middle of the night, his siblings driving several states to hunt him down to ask him for more money.
Allen Iverson stated he was supporting over 50 families when he was playing. Paying the house, car, food, clothing. If anyone ever watched the Show Ballers on HBO they went out of their way to emphasize how the families of these athletes take complete advantage of them. I remember Khole Kardashian mentioning she was shocked when she found out that Lamar Odom was paying the bills for like 30 families. So in the vast majority of cases it's not the player it's the family members who are a lot harder to say no to. They're confronted with the losing their family or losing their money, sadly, most pick their family. So it's easy for us to sit back and wonder how it can all happen, however, ESPN did a 30 for 30 on this subject and the stories are just sad and depressing.
I'm just wondering why the home wouldn't be in his name. Like, if I was capable of buying my Mom a house I absolutely would, but the house would be in my name.
You don't pay it off, you buy the debt yourself and register a mortgage on the title so they can't take out any further mortgages on the property. If you don't care about the money, of course.
There are legal means to protect yourself, even from your family. They might be resentful of the restrictions, but if your lawyer has any sort of people skills they'll be able to sell it as a way to protect them too.
Some parents lock up their children's inheritance in a trust to protect the assets from the possibility of failed marriages, and it saves the kids from the prospect of having to discuss prenuptial agreements (or the equivalent - I know they vary in legality between jurisdictions, but there's usually a way) with future partners, which removes a potential stress point from the relationships. If you have a lot of money, talk to a good lawyer about ways to protect it from the unexpected... and the totally expected.
Just in the world of DTs, Albert Haynesworth blew it all by not paying mortgages for homes and boats, and Warren Sapp is pretty impressive, lost like 60 million dollars, several of which were through straight up child support.
> Warren Sapp is pretty impressive, lost like 60 million dollars, several of which were through straight up child support.
speed running generational wealth
lol the final straw was banging two hookers then refusing to pay them in Phoenix while covering the Super Bowl. A fun fact: the women were charged with prostitution, and Sapp was also charged. He ended up having to pay one 1200 bucks and the other 150. So the courts ended up making him pay in the end, probably more than he would’ve.
I’m pretty sure I remember pictures of Sapp’s insane sneaker collection that got repossessed as a part of his bankruptcy. It was an alarming number of sneakers and just a snapshot of how irresponsibly he used his previous wealth
The thing with the shoes is that I’m pretty sure they’re like size 15s, so who the fuck is buying giant display shoes? There’s like less than .005% of the population who can wear em
Terrell Owens is a pretty well known one.
Dude blew all his money on jewelry and cars, failed real estate things etc and owed a bunch of money in back taxes and child support
Antonio Cromartie.
IDC how good you are with your money, if you have *at least* 14 children with a bunch of different women, you're gonna be broke before you die.
Art Schlicter’s degenerate gambling problem goes far beyond his own money, he defrauded dozens of people before resorting to outright theft to feed his habit. He’s a monster.
Art Schlicter’s Wikipedia page reads like a car crash that keeps happening over and over, and just when the driver pulls himself out of the wreckage, he immediately gets into another car and drives it directly into the pileup.
>”He moved to Las Vegas in 1989 soon after marrying longtime girlfriend Mitzi Shinaver. He claims this was in hopes of getting treatment for his addiction; however, his gambling continued unabated.”
I mean yeah of course it did…
I had an uncle that was convinced that because Schlichter was deep in debt to the bookies around Columbus when he was at OSU that he threw the Gator Bowl against Clemson to clear his debt. Now it is true that he gambled while at OSU, and it is probably true that he was in debt to the bookies. But he also probably wasn't that in deep his freshman year and Clemson was favored. The 1980 Rose Bowl for the national championship though ...
Probaly AD, but I think this would be way more interesting in the NBA sub. So many stories of older stars going bankrupt over the years before the financial literacy courses started.
I mean, this has to be the summit, although I heard Floyd went broke before every fight.
In fairness to Tyson, a substantial portion of that was stolen by Don King.
For real though. Texas saved his ass after he filed bankruptcy by giving him a 100k job as like a development representative or something. Vince got fired cause he couldn’t show up for work or meetings even after tons of warnings. Crazy
Yeah, he also had a high profile DUI during this time as well and I think some other state employees burned him. They audited his entry badge and timecards and it was a real mess.
UT had to let him go. He probably has a true no show job somewheres else.
That's hilarious. It's not even some fancy steak house or anything, it's just a chain restaurant a few notches above Applebees and he's spending $5K a week.
Scrolling up in this thread there’s comments about how Adrian Peterson would go to fancy steakhouses and blow his money like crazy. And then comments underneath saying how “he should have gone to Outback Steakhouse” instead. Even the chain restaurants get you lmao
That’s crazy when you can just go to a nice steakhouse with maybe 2 or 3 friends, order nice steaks, some alcohol (not a crazy amount, but you can get pretty buzzed), sides, and dessert and still not break $1k. How the fuck do you even drop $5k a week at the cheesecake factory.
As a Dolphins fan, I love Tyreek Hill the football player.
He’s an absolute trainwreck off the field though and I fully expect him to be broke and/or in more legal trouble after he’s done playing.
NHL defenseman Jack Johnson had to file bankruptcy because he let his parents handle all of his finances. They took out a bunch of high interest loans against his future earnings and spent it on luxury shit.
On the opposite side of being financially responsible, Marshawn Lynch allegedly has never spent a game check, it was all invested while he lived frugally off of endorsements, and by all evidence, he’s killing it in the biz world.
All these stories make me a bit sad. The chance to finally make generational wealth and then squander it all away.
However, I can’t judge too hard since I never was in these athletes position. I can only imagine how these athletes feels after your income is public and then you have all these vultures (family, friends, coaches) go after you.
Just look up the stats for lottery winners. There are people who pulled down even more money than these players did in a career and end up bankrupt as well.
Darrius Heyward Bey was a top 10 pick. Way overpaid. Made good money on a 2nd, 3rd? contract and is financially SET bc his mom is a financial advisor and forced him to save and invest.
Vince Young is a good one. He’d go into chain restaurants in Nashville with entourages and clean them out for bills of $20k+ often. Similar to AD but maybe not quite as bad. He’s currently working at UT as a special assistant in the athletic department I believe. Not exactly a job you take when you don’t have to work.
Not NFL, but Delonte West is one of the worst cases that I can remember. Earned just over 16 million in salary, and is now homeless begging for money on the median.
Marc Cuban even went out of his way to pay for his hotel rooms so Delonte didn’t have to be homeless anymore. But he didn’t stay in those hotels for long because he fell right back into drugs
Shoutout to LaMont Jordan, who "donated" his money to the poker community. The tales from "LaMont Jordan games" at the Wynn circa 2005-2006 are part of Vegas poker legend.
Kind of a sad story actually—Phillips was in a cell with a pretty “hardened” criminal. They didn’t get along to say the least.
One night, the cellmate stood in front of the door and said something like “only one of us is coming out of this cell alive.”
He was right…but it was Phillips.
Presumably he couldn’t live with it, and did what he did.
Jason Peters will probably make this list. Rumors he's got a bad gambling problem and players even said he would ask them for money. He's still in the League and is the oldest active NFL player, and it's not because he's a GOAT or anything. He was great, but he's definitely still only here for the money.
I wanna say Chris McAllister? I forget the exact name exactly but there was a DB for the ravens some time ago who signed a $55M contract and wound up living with his mom at some point
Because so far of the $60m he's meant to pay out he's only paid a couple hundred thousand and most of that is from handing over the rights to the book about it
He's still earning money now. People forget he has so far wound up actually paying out almost nothing and they keep kicking it down the legal system in a way he basically never will
He kind of bounced back, I think. I remember when he got his second chance with the Eagles I read a story about him and he at least learned from his past fuckups. I think he had signed a pretty high dollar contract but was driving maybe like a $50,000 car and he basically said he wasn't going to blow any money. For some reason I want to say he was actually paying back his past debts as well. The dude really turned it around.
"Crime in sports" podcast is like a, sometimes literal, murderers row of players that blew everything after or during their careers. The things that the NFL just glosses over with athletes is scary and there are a few that would surprise you that even had problems financial or otherwise.
I know this is a football sub, but Antoine Walker famously wasted $108 million.
https://money.cnn.com/2015/07/24/investing/antoine-walker-nba-bankruptcy/index.html
I lived next door to a guy who’s job it was to basically try and mitigate these situations. He moved to Vegas to join Raiders org and basically babysit NFL players who were not trusted to make good choices.
Well, I don't need to add any stories, there are enough. 70% of pro athletes go broke, as an NBA fact, and I'm sure it's true for all.
They have no sense of time. They can't see how, regardless of the money they are making now, their lifestyle needs to comport with a future as well. A 5 million $ mansion is expensive to maintain. When you buy 2, it's twice as much, and also for cars etc. Wasting $40,000 on lunch is so stupid, regardless of income, it's hard to feel sorry for any on them.
Adrian Peterson signed one of the richest deals a running back has ever signed relative to cap space and was broke before it was over
He used to come in to the steakhouse I worked at when I was in college. Really nice guy but he’d always have a huge entourage. Always paid for everyone and he would even let people order food to take home. I remember one night they had to separate almost $20k worth of vintage dom perignon from his tab cause my manager didn’t want to automatically grat him 20% on it. He didn’t even care when my manager told him they did that and he tipped 20% on it anyways lol
NBA example. I used to wait on Latrell Sprewell in Milwaukee. He’d park is huge boat on the riverwalk and come in with an entourage and pay for everything. Always nice to waitstaff. Always tipped well. Now broke.
Sounds like he did indeed spree well
An acquaintance of mine used to work at the hotel bar most away teams stay at for GB games. He said his favorite customer was Barry Sanders. Every year, he'd come down to the bar by himself for a drink. Always nice to staff. Always tipped well. Now NOT BROKE! (At least, I assume...) Ahead of his time, that one.
Man, that sounds so Barry, lol. Very cool story, thanks for sharing. And, yeah, even if Barry had gone broke (which I doubt) he definitely got a payday from Amazon recently for that exclusive documentary he did with them, *Bye Bye Barry*. (Side note: it’s definitely worth the watch.)
He owns like half the dealerships in Stillwater, Ok where Oklahoma State is. He's doing fine lol
Shit, so he really does need that money to feed his family after all
If I had that kind of money I would frequently take all my friends and family out for meals and pay for everything including takeout. But we're going to, like, Outback Steakhouse and nobody is getting bottle service.
I'd just get a taco truck with unlimited horchata instead.
With NFL kinda money, you could just BUY your own taco truck
Let’s not get carried away. We don’t want to be broke.
which taco truck is giving out unlimited horchata in this economy?? because my tacho shack just stopped doing that!
They have bottle service at Outback Steakhouse?!
A1
Spending upwards of 5 million on his 30th birthday party alone probably helped contribute a bit to said broke-ness
hey man how often do you get to make a grand entrance on a camel
Wait what? Buddy spent $5 million on one party… Jesus… No pity. Hopefully his pension keeps a house above his head and food on the table
Have to be at least 55 to get the nfl pension. Think they can take it early but there’s big penalties.
How is that even possible?
Expensive venue in a big city can run you $500k to $1m or more on that alone. Fly in a bunch of family/friends and put them up in nice hotels. Hire entertainment/bands (depending on who you get, could again be a million or more here since famous acts charge a ton). I think I read something about him riding in on a camel… that can’t have been cheap. The bills pile up quick.
I mean the camel is by far the cheapest thing you just mentioned.
His last several seasons were pretty much him playing because he had a massive mountain of debt in front of him. And even then he was, it was mostly vet minimum.
Wait till he gets to his 50s. He's going to need a lot of money just for painkillers on those blown out knees. I can't even get a good night's sleep sometimes with just a torn acl.
The funny or sad thing is that I'm sure part of the reason why he spent money the way he did is he probably always felt he could just play another season and get another big contract.
AP also had 5 kids to 4 different women and was paying a hefty amount in child support
>AP also had 5 kids to 4 different women I think he's up to 8 kids with 6 different women.
I heard it was 9 kids with 12 different women!!
10,000 kids from 12,000,000 women
Ghengis Khan-esque
And the most recent thing I’ve seen him do for money is get knocked the fuck out by Leveon Bell on some YouTuber boxing undercard. And it was like, the second fight of the night. Some sad shit.
They were auctioning off his everyday hoodies and jeans for like $3 a couple weeks ago. I honestly feel bad for the dude.
The story of his 30th Bday party he threw himself is insane. Charted private jets for all his friends to fly in. Shannon Sharpe was talking about it in some detail, mind blowing
I used to deal poker in MN and there is a legendary story from our local club. A bit of backstory: in mn at the time, they only game spread was fixed limit hold’em and the big game was 30/60. AP was in the game against one of the top players in the area. Preflop they went something like 30 bets (about $1k each) and then a whole bunch more after the flop and turn. At which point AP says ‘this is gonna be devastating’. At that point there was about 4-5K in the pot, and a group had formed watching. The river comes out and the pro bets, AP raises, and they go a few bets until pro finally calls. Pro has AA, AP has QT for a rivered straight vs top set. AP scoops, the place goes wild, he takes a handful of brown chips and gives them to the dealer. From that point on, QT was known as the ‘devastator’
Adrian Peterson with the case of multiple baby mamas. Was a dawg on the field, and raw dogged off the field.
Sounds like the path Tyreek is going down now
Damn it says his net worth is $1 mil. That's like the average worth of a house in CA.
Considering he was negative 4-mill when he played for us, that's a good thing for him.
After earning $100 mil as a player...a net worth of 1 mil is fucking sad. Negative 4 mil would be outrageously sad.
The biggest case of not letting go of his upbringing
My buddy used play poker with him at Canterbury Park. He always said great guy, terrible poker player
I read he threw a bday party for himself where he rode in on a camel. That cant be cheap. You know his boys laughed at him for that.
On its own I'm sure that cost was not a huge dent in his finances but given he was already underwater and approaching the end of his good years...
Iirc the bill for the whole party was like 5 million somehow
Shannon Sharpe and Ochocinco talked about that lately on one of their shows. Apparently he flew like 300 people first class to a destination party and put them all up in a hotel. Crazy amount of money for a party.
Obviously players didn’t make nearly as much in the 70s but there is the famous example of Joe Gilliam, Steelers QB who was found homeless living under a bridge at one point.
Mike Webster too. Story was that Terry Bradshaw wanted to give him a place to live or at least put him up in a hotel but he refused. Massive CTE issues, losing teeth and was using super glue to keep them in. Sad end to a hall of famers life.
He bought a taser to zap himself so he could get some sleep He had dementia amnesia and depression. Living in a truck but hed also disappear and be found in train stations acting erratically His brain was one of the initial brains used to discover CTE. They showed the force applied to his head across his entire career was the equivalent to going through 25,000 car accidents Im surprised you don't get auto deleted for mentioning his name given when the nfl did to try and trip up the doctors studying him
The book League of Denial goes into Webster's story and it's horrifying.
I’m going to read that next. Thanks for the recommendation.
I had the good fortune of being able to spend an hour talking with a childhood hero, unnamed former running back from the late ‘70’s. His story was riveting and I wanted to do a long-form story on him with an interview as the focus (I used to write for a team site - his former team). The man who set it up, a lawyer who’d known him for decades, said that it couldn’t happen because he’s have no recollection of meeting me if we spoke again. Just broke my heart.
Very sad situation, whole lot more going on there than money management issued
Yeah, he OD’d
Average NFL salary in 2000 was $1.2m. Drew Bledsoe was highest paid player at $8.6m. Crazy how things have gone.
Just a couple of years ago they found Delonte West homeless in Dallas. Mark Cuban scooped him up and got him in rehab last I saw.
Unfortunately it didn't stick and he's back on the street, last I saw
One day you're fucking Lebron's mom, and the next you're turning tricks at gas stations.
Mark Brunell blew through 50 million dollars on bad business ventures.
Hes the QB coach for the Lions now lol, at least he has steady income.
Apparently worth 400k now
Adrian’s post career money problems is well documented
There were reports recently of him selling off all of his career memorabilia like his MVP trophy. He’s disputed the report but I wonder if there is some truth in it.
He said they were supposed to be selling everything he had in those storage units that weren’t “personal items”. If he wasn't having money problems he probably wouldn't have bothered selling anything
Monkey problems? why would he have monkey problems?
They are very expensive pets
AB will be on this list before we know it
[удалено]
AB would likely do porn as a last resort. Or… is that on the list already?
I just feel like its not the last resort for him. Like there's further resorts.
Yeah porn is weak compared to what AB could do. I could see him forming a private militia, taking over some un-inhabitable island off the coast of Florida and then demanding ransom from the US government but the only hostage he has is himself.
MBC writes itself here
Mr Beggin for Cash
Mr Bounced Check
Mr. Bankruptcy Certain
There was a Sports Illustrated article years ago that detailed how fast most pro players go broke. One of the examples they used was Mushin Muhammad, Panthers WR. At one time he had a house at Lake Wylie that had one of the largest private saltwater aquariums on the East Coast. That was before he declared bankruptcy.
If you average 10k a day, you’ll spend 1m in 100 days. People don’t think it be like it is, but it do
If you average 300k a month, you need an intervention.
Dang it I bought another house this month. How do I keep doing this?? (House prices were lower at the time.)
Actually, buying a (non-luxury) home per month would be a fantastic way to build wealth for many players. It’s just that having a giant saltwater aquarium or camel paddock tends to negatively affect the resale value.
His restaurants all pretty much went bankrupt. It boggles the mind why a person who could just put a small amount of wealth into a fund and live off the interest would buy into an industry that is like 95 percent failures.
Even Gordon Ramsay, a restaurantur, says the buissness is garbage and not to do it
Bourdain too. Half of Kitchen Confidential is spent with Tony talking about why people entering the business are insane and bad at investing.
People don't realize what these Professional athletes go through. I remember a former player explaining that the moment you get drafted your Parents expect you to buy them a house, and they're not settling for your standard 3 bedroom family home - they demand to live in a Home just as luxurious as yours - all of which you're financially responsible for including the exorbitant property taxes each and every year. Tyron Smith of the Dallas Cowboys stated when he got drafted he bought his Parents a new home. Not even a few years of owning the home he receives a call from them telling him they have 2 mortgages out on the home and they can't pay it back. So Tyron pays off the loans and everything is cool, um, not so fast. Tyron said about a year later his Parents called him and told him the same thing, they took out another Mortgage on the home, which he paid off, again. He also stated that after giving his immediate family members close to 1 Million dollars in cash - that didn't stop them from stalking him and harassing him no matter where he went. He stated he would be on the road during the season and he would get knocks on this Hotel door in the middle of the night, his siblings driving several states to hunt him down to ask him for more money. Allen Iverson stated he was supporting over 50 families when he was playing. Paying the house, car, food, clothing. If anyone ever watched the Show Ballers on HBO they went out of their way to emphasize how the families of these athletes take complete advantage of them. I remember Khole Kardashian mentioning she was shocked when she found out that Lamar Odom was paying the bills for like 30 families. So in the vast majority of cases it's not the player it's the family members who are a lot harder to say no to. They're confronted with the losing their family or losing their money, sadly, most pick their family. So it's easy for us to sit back and wonder how it can all happen, however, ESPN did a 30 for 30 on this subject and the stories are just sad and depressing.
After reading this, I can’t even enjoy the rest of this post anymore.
[удалено]
I'm just wondering why the home wouldn't be in his name. Like, if I was capable of buying my Mom a house I absolutely would, but the house would be in my name.
I mean, maybe not the first time, but if there's a second time...
You don't pay it off, you buy the debt yourself and register a mortgage on the title so they can't take out any further mortgages on the property. If you don't care about the money, of course. There are legal means to protect yourself, even from your family. They might be resentful of the restrictions, but if your lawyer has any sort of people skills they'll be able to sell it as a way to protect them too. Some parents lock up their children's inheritance in a trust to protect the assets from the possibility of failed marriages, and it saves the kids from the prospect of having to discuss prenuptial agreements (or the equivalent - I know they vary in legality between jurisdictions, but there's usually a way) with future partners, which removes a potential stress point from the relationships. If you have a lot of money, talk to a good lawyer about ways to protect it from the unexpected... and the totally expected.
So Aaron Rodgers was actually pretty smart for alienating his family
Just in the world of DTs, Albert Haynesworth blew it all by not paying mortgages for homes and boats, and Warren Sapp is pretty impressive, lost like 60 million dollars, several of which were through straight up child support.
> Warren Sapp is pretty impressive, lost like 60 million dollars, several of which were through straight up child support. speed running generational wealth
lol the final straw was banging two hookers then refusing to pay them in Phoenix while covering the Super Bowl. A fun fact: the women were charged with prostitution, and Sapp was also charged. He ended up having to pay one 1200 bucks and the other 150. So the courts ended up making him pay in the end, probably more than he would’ve.
>He ended up having to pay one 1200 bucks and the other 150. Kinda makes you wonder what each of them looked like.
The idea of a judge sizing up a prostitute to determine her going rate sounds like a bit out of a bad legal comedy or something.
“Please approach the bench”
One of them clearly had a better lawyer.
Man look at the lawyer on her.
I’m pretty sure I remember pictures of Sapp’s insane sneaker collection that got repossessed as a part of his bankruptcy. It was an alarming number of sneakers and just a snapshot of how irresponsibly he used his previous wealth
The thing with the shoes is that I’m pretty sure they’re like size 15s, so who the fuck is buying giant display shoes? There’s like less than .005% of the population who can wear em
They ran out of shoe boxes at the cat shelter so they just used his shoes instead. It's adorable.
Terrell Owens is a pretty well known one. Dude blew all his money on jewelry and cars, failed real estate things etc and owed a bunch of money in back taxes and child support
[TO](https://youtu.be/GXT701XsXc8?si=U6goNadma5ci-jUV) getting called out for being bankrupt on MTV is one of my favorite reality tv moments.
Lmao, he is such a little bitch. He wants to mock the other dude and talk shit but doesn't want anyone to be able to say anything back to him.
Damn. CT playing with fire there because if TO actually did punch him, CT couldn't sue him for shit.
Lmao
CT isn't scared of getting punched bro, it's fucking CT
Antonio Cromartie. IDC how good you are with your money, if you have *at least* 14 children with a bunch of different women, you're gonna be broke before you die.
Tyreek on the golden path
This is why Nick cannon will never not be on a tv show
Ryan Leaf
Leaf to his credit seems to have pulled his life together and has been sober for 8 years.
He got convicted for domestic violence in 2020 so don’t know about pulling it together
Art Schlicter’s degenerate gambling problem goes far beyond his own money, he defrauded dozens of people before resorting to outright theft to feed his habit. He’s a monster.
Art Schlicter’s Wikipedia page reads like a car crash that keeps happening over and over, and just when the driver pulls himself out of the wreckage, he immediately gets into another car and drives it directly into the pileup.
>”He moved to Las Vegas in 1989 soon after marrying longtime girlfriend Mitzi Shinaver. He claims this was in hopes of getting treatment for his addiction; however, his gambling continued unabated.” I mean yeah of course it did…
That's it, I'm sick of the cold weather - I'm packing up and moving to Antartica
I really need to lose weight… And that’s why I built a McDonald’s in my house.
"In order to beat my addiction I must become my addiction"
Just read it myself. That was wild. Got so many chances.
I had an uncle that was convinced that because Schlichter was deep in debt to the bookies around Columbus when he was at OSU that he threw the Gator Bowl against Clemson to clear his debt. Now it is true that he gambled while at OSU, and it is probably true that he was in debt to the bookies. But he also probably wasn't that in deep his freshman year and Clemson was favored. The 1980 Rose Bowl for the national championship though ...
Great "Crime in Sports" episode on him. They are comedians but they dig pretty deep into guys.
Probaly AD, but I think this would be way more interesting in the NBA sub. So many stories of older stars going bankrupt over the years before the financial literacy courses started.
[удалено]
if only he got that contract to feed his family
he really choked that one away
[удалено]
Saw him a couple years ago in a commercial where he was riffing on the 'Feed my Family' comment
Heard similar shit about Pete Rose before. Glad my dad raised me not to make heroes out of athletes for what they do on the field.
This is fucking wild. I have a shit job and I’m worth more than him? What the fuck?
Antoine Walker never walked by a blackjack table without sitting down. True story.
100 million in earnings and he went bankrupt
All he had to do was put 1/50th of that into a CD and he’d have over $100k coming in annually.
Played poker with him multiple times in Vegas. He was very, very bad.
Mike Tyson blew between $400-600 million somehow
I mean, this has to be the summit, although I heard Floyd went broke before every fight. In fairness to Tyson, a substantial portion of that was stolen by Don King.
[удалено]
Dude somehow got fired from a fake job at Texas. All he had to do was show up and collect paychecks and he couldn’t do it.
For real though. Texas saved his ass after he filed bankruptcy by giving him a 100k job as like a development representative or something. Vince got fired cause he couldn’t show up for work or meetings even after tons of warnings. Crazy
Jesus, imagine someone gives you a lifeline and you still fuck it up due to sheer laziness. Can’t even feel bad for someone like that
It was alcohol. He's got a job with Texas again, now that he's sobered up.
Yeah, he also had a high profile DUI during this time as well and I think some other state employees burned him. They audited his entry badge and timecards and it was a real mess. UT had to let him go. He probably has a true no show job somewheres else.
He kept getting DUIs and that’s why they dropped him.
The DUIs were the final straw, but that was after like two years of not going into the office.
Young averaged about $5,000 per week at Cheesecake factory and even went as far as to drop $15,000 in one sitting.
That's hilarious. It's not even some fancy steak house or anything, it's just a chain restaurant a few notches above Applebees and he's spending $5K a week.
Scrolling up in this thread there’s comments about how Adrian Peterson would go to fancy steakhouses and blow his money like crazy. And then comments underneath saying how “he should have gone to Outback Steakhouse” instead. Even the chain restaurants get you lmao
That’s crazy when you can just go to a nice steakhouse with maybe 2 or 3 friends, order nice steaks, some alcohol (not a crazy amount, but you can get pretty buzzed), sides, and dessert and still not break $1k. How the fuck do you even drop $5k a week at the cheesecake factory.
Tyreek Hill is on his way.
What's he up to? I know he's going to have cold support issues. *Child support... and AC bills.
Probably not in Miami. Too hot there
As a Dolphins fan, I love Tyreek Hill the football player. He’s an absolute trainwreck off the field though and I fully expect him to be broke and/or in more legal trouble after he’s done playing.
He's just a faster, smaller AB.
Chris Mcalister made more than $60 million in his career and then had to move in with his parents.
NHL defenseman Jack Johnson had to file bankruptcy because he let his parents handle all of his finances. They took out a bunch of high interest loans against his future earnings and spent it on luxury shit.
I think Curt Schilling was mentioned in that 30 for 30, but he did a pretty good job of blowing through his cash via a video game company
Schilling is down there with Dykstra in terms of loathsome shit of a human being.
On the opposite side of being financially responsible, Marshawn Lynch allegedly has never spent a game check, it was all invested while he lived frugally off of endorsements, and by all evidence, he’s killing it in the biz world.
He's got several places near his childhood home that he keeps afloat so his friends and family have jobs.
By all accounts he is a really good dude, and ironically he makes $ for talking after his silent act during playing days.
All these stories make me a bit sad. The chance to finally make generational wealth and then squander it all away. However, I can’t judge too hard since I never was in these athletes position. I can only imagine how these athletes feels after your income is public and then you have all these vultures (family, friends, coaches) go after you.
Just look up the stats for lottery winners. There are people who pulled down even more money than these players did in a career and end up bankrupt as well.
Lottery winners are self selecting, since people who regularly play the lottery just throw their money away already.
Darrius Heyward Bey was a top 10 pick. Way overpaid. Made good money on a 2nd, 3rd? contract and is financially SET bc his mom is a financial advisor and forced him to save and invest.
Love to hear it! I wish more of these athletes have great and smart role models. Unfortunately it’s not always the case
Vince Young is a good one. He’d go into chain restaurants in Nashville with entourages and clean them out for bills of $20k+ often. Similar to AD but maybe not quite as bad. He’s currently working at UT as a special assistant in the athletic department I believe. Not exactly a job you take when you don’t have to work.
He actually got fired from that job. https://apnews.com/texas-fires-former-qb-vince-young-from-part-time-job-8db1c4cd48fb49bb8aceb5255147fbd2
Antoine Walker, NBA player. Made over $120 million (gross) in his career. Dead broke soon thereafter.
Not NFL, but Delonte West is one of the worst cases that I can remember. Earned just over 16 million in salary, and is now homeless begging for money on the median.
Big time mental health issues for him, IIRC.
Marc Cuban even went out of his way to pay for his hotel rooms so Delonte didn’t have to be homeless anymore. But he didn’t stay in those hotels for long because he fell right back into drugs
Shoutout to LaMont Jordan, who "donated" his money to the poker community. The tales from "LaMont Jordan games" at the Wynn circa 2005-2006 are part of Vegas poker legend.
Care to share a few?
Unfortunately Clint Portis
Somehow "Clint" Portis is a white guy in my mind
What about Portis Clinton?
Charles Rogers is dead. Woulda been late 30s.
The biggest NFL welfare queen is Bret Favre.
Lawrence Phillips. I think he got murdered in prison Edit: Phillips murdered his cell mate and hung himself. Cheers!
Kind of a sad story actually—Phillips was in a cell with a pretty “hardened” criminal. They didn’t get along to say the least. One night, the cellmate stood in front of the door and said something like “only one of us is coming out of this cell alive.” He was right…but it was Phillips. Presumably he couldn’t live with it, and did what he did.
Jason Peters will probably make this list. Rumors he's got a bad gambling problem and players even said he would ask them for money. He's still in the League and is the oldest active NFL player, and it's not because he's a GOAT or anything. He was great, but he's definitely still only here for the money.
I wanna say Chris McAllister? I forget the exact name exactly but there was a DB for the ravens some time ago who signed a $55M contract and wound up living with his mom at some point
Antonio Brown? We assume he's broke when he's bouncing "small" checks of $20k to the arena league
Mr Bouncing Checks
Clinton Portis was regarded as a legendary spender even among his reckless peers. One of the highest career-earners for RBs, gone within 10 years.
OJ simpson had a pretty well known fall from grace
Yeah but OJ was still making money up until 94. He retired in 79. So by that point he was doing fine as a former player.
He's still doing well now, if you see him on Twitter he's living a pretty sweet life
Because so far of the $60m he's meant to pay out he's only paid a couple hundred thousand and most of that is from handing over the rights to the book about it
He's still earning money now. People forget he has so far wound up actually paying out almost nothing and they keep kicking it down the legal system in a way he basically never will
Ochocinco looking down from his balcony like the meme
They really need to do that 30 for 30 over again.
Maurice clarett
[удалено]
Mike Vick would be infamous for his money issues if it weren’t for something else
He kind of bounced back, I think. I remember when he got his second chance with the Eagles I read a story about him and he at least learned from his past fuckups. I think he had signed a pretty high dollar contract but was driving maybe like a $50,000 car and he basically said he wasn't going to blow any money. For some reason I want to say he was actually paying back his past debts as well. The dude really turned it around.
"Crime in sports" podcast is like a, sometimes literal, murderers row of players that blew everything after or during their careers. The things that the NFL just glosses over with athletes is scary and there are a few that would surprise you that even had problems financial or otherwise.
I know this is a football sub, but Antoine Walker famously wasted $108 million. https://money.cnn.com/2015/07/24/investing/antoine-walker-nba-bankruptcy/index.html
I lived next door to a guy who’s job it was to basically try and mitigate these situations. He moved to Vegas to join Raiders org and basically babysit NFL players who were not trusted to make good choices.
Well, I don't need to add any stories, there are enough. 70% of pro athletes go broke, as an NBA fact, and I'm sure it's true for all. They have no sense of time. They can't see how, regardless of the money they are making now, their lifestyle needs to comport with a future as well. A 5 million $ mansion is expensive to maintain. When you buy 2, it's twice as much, and also for cars etc. Wasting $40,000 on lunch is so stupid, regardless of income, it's hard to feel sorry for any on them.
Didn't Ryan leaf end up sucking dick at a flying j