Athletes Going Broke After Retirement

Discussion in 'Sports' started by Mirage, Mar 12, 2010.

  1. Mirage

    Mirage Administrator Staff Member V.I.P.

    60% of NBA players are broke 5 years after retirement and almost 80% of NFL players just 2 years after! This is surprising to be honest. You'd think with so much money coming in you could learn how to manage it:

    Seven costly pro athlete screw-ups - Yahoo! Sports
     

  2. storm_ina_C_cup

    storm_ina_C_cup Registered Member

    This doesn't surprize me in the slightest.
    ...My dad was a fullback for an NFL team back in the 70's (prefer to keep team and his name to myself) and found himself battling his highlife coke habit for years afterwards. After he retired from the NFL, he played for a couple professional slow-pitch minor league baseball teams and carried on with his drinking and drug habit. It wasn't until the mid 1980's that he quit but by then he was totally out of all the money he ever earned playing professional sports.
     
  3. icegoat63

    icegoat63 Son of Liberty V.I.P. Lifetime

    Nice, lol you did snipe me on this one. I had a sneaking feeling that I shoulda posted it in General Sports but figured, naaaahh I'd rather see the responses from non-sports fans instead heheheeh.

    This shit pisses me off. I mean if you look at just Mike Tyson alone, he blew over 4 million in vehicles.... IN VEHICLES!!!!!!! He's one god damn man for craps sake. Do you know what I could do with 4 million dollars? that ONE PERCENT of his total earnings? Ugh... Dont get me wrong, I understand its his money and he's earned it. But for fucks sake, these people get a wild hair up their ass to buy the most idiotic things like Bengal Fucking Tigers. What the fuck?!?!!!?!??!??!!
     
    Doc likes this.
  4. Major

    Major 4 legs good 2 legs bad V.I.P.

    I'm surprised the number is that high, but it doesn't surprise me that a lot of professional athletes end up going broke. Most of them come from poor backgrounds and don't know what it's like to have money or how to manage it. You'd think it would be the other way around though, not taking anything for granted, but I guess they need their 50,000 square foot mansions, dozens of custom cars, a yacht, houses for their family members, not to mention the gambling problems that many of them have.
     
  5. Raos

    Raos Registered Member

    This does not surprise me at all. It is not limited to sports stars either though. Lottery winners have similar stories as these. I think when you come into a lot of money very quickly there are very few people who know how to really handle it.
     

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