10 Athletes Who Went Bankrupt After Retiring
High-profile sports athletes are some of the biggest earners outside of corporate executives. They perform at a peak level and their pay proves it. But their careers are relatively shorter when compared with other professions. Without careful planning, their accumulated wealth can disappear in a heartbeat. Nitrogen Sports Blog presents 10 athletes who went bankrupt soon after retiring.
Tyson used to be the baddest man on the planet. At his best, Tyson was almost like a walking death sentence to his opponents. But the former heavyweight champ met his match in the form of his finances, which he so poorly managed that all his earnings in his boxing career, went up in flames.
Tyson spent most of his fortune in the same manner most people with no regards of his future would. He bought houses, cars, jewelry, and even purchased a living Siberian Tiger because why not? Tyson filed for bankruptcy in 2003, and is now known as much for his knockouts as his status as one of the most notable bankrupt athletes ever.
But hey, at least we got to see him on The Hangover.
As a former World Series winner, Dykstra earned almost $40 million in his career. The future seemed bright for Dykstra after his retirement. As a ‘self-taught’ financial investor, he appeared to expand that fortune.
Yet, the housing crash in 2008 exposed consistent fraud on his part. In addition to bankruptcy, Dykstra also served prison time.
Sheryl Swoopes may never have attained multi-millionaire status. As a powerhouse player in the WNBA she earned a respectable living. Yet, she still managed to rack up considerable debt.
In 2004 she filed for bankruptcy. While she is no longer an active star, Swoopes is now happily employed. She acts as an assistant coach at Texas Tech.
We don’t know what hurt more for Holyfield; Tyson’s bite that nearly ripped his ear off or the fact that went bankrupt despite a ridiculously profitable boxing career. Holyfield’s extravagant lifestyle and many child support payments obliterated his fortune all culminated into him filing for bankruptcy in 2012.
It’s hard to imagine during their primes, but Tyson and Holyfield would not only be together on lists of the best heavyweights of all time down the road but also on discussions of top bankrupt athletes in history.
Many experts consider Johnny Unitas as one of the greatest football players of all times. In his career, Unitas earned a considerable sum of money.
Earning over $100 million in his basketball career, Walker shared the wealth. The former Boston Celtics star poured money into his friends and family. His dwindling account took another hit during the 2008 housing crisis. He resorted to bankruptcy in the middle of 2010.
Considered by many as the best defensive player of all time in the NFL, Taylor made up part of the “Big Blue Wrecking Crew”. After multiple Super Bowl wins, he had amassed enough money to be set for life.
An unfortunate drug addiction left him with nothing to his name. In 1998, he filed for bankruptcy.
German-born tennis star Boris Becker has the strangest story on this list of bankrupt athletes. Declared bankrupt by London courts, Becker disputed the decision.
At the same time, he claimed that he had diplomatic immunity from the debt. This was due to his supposed status as an advisor to the Central African Republic. The CAR disavowed this claim.
Despite setting numerous NFL records, Owens history with the league was spotted at best. He courted controversy with his constant antics. This led to his downfall, as teams became hesitant to sign him. Without money coming in, Owens lost several homes and struggles to pay child support.
According to Celebrity Net Worth, Owens earned $66.8 million in his NFL career but only has a current net worth of $100,000.
Anderson served as point guard on several NBA teams. From 1991 to 2005, he earned over $60 million. Child support for seven children amounting to $40,000 a month ate through even this. By 2005, he declared bankruptcy.
Reading about bankrupt athletes can sap any positives vibes out of anyone, but there’s a lesson to be learned here. Make sure to check out Nitrogen Sports Blog regularly for more sports news updates and top 10 lists.