These NFL and NBA Players Lost Their Fortunes After Retiring

A lot of people assume that successful professional athletes are set for life when it comes to their finances. While that is definitely true for many stars of the NBA and NFL, there are many who unfortunately squander their wealth and don’t invest properly. It’s crazy to think that it is possible to go through millions, but it does happen more often than you might expect.

Vince Young

Vince Young was the third overall pick in the NFL draft, which means it came with a hefty payday. However, seven years later, he filed for bankruptcy, with his financial advisor explaining that Young’s spending overtook his earnings. That is pretty wild considering the fact that he had signed for $26 million. His assets were worth less than $1 million when he filed, and he owed about $10 million.

Chris McAlister

Chris McAlister was a top 10 pick and played for the Ravens for ten years. He won a Super Bowl with the team at Super Bowl XXXV. He even signed a seven year $35 million contract, so it was pretty shocking when he was already retired in 2011, he requested at court that his monthly child support be reduced since he was living with his parents who were supporting him financially.

Ray Williams

Over the course of his 9 years in the NBA, Ray Williams bounced around different teams. He earned about $2.5 million during this time, but by the time he retired, he applied for his NBA pension as he declared bankruptcy in 1994. He lost the $200,000 he received from the NBA after moving to Florida and falling prey to a real estate scam. By 2010, he was living in a car in Pompano Beach. He began to build himself back up later that year when he got a job at Mount Vernon’s Recreation Department. He passed away in 2013 from colon cancer.

Kenny Anderson

Kenny Anderson had a great career early on with the Nets, especially 1994 when he made the All-Star Team. The later half of his career was not as great, and though he earned $63 million, by the time he retired he was struggling financially, especially since he had to pay child support for his seven kids with four women, as well as divorce settlements. He filed for bankruptcy in 2005.

Andre Rison

Andre Rison had a lot of ups and downs during his career. While playing for the Falcons, he became a Pro Bowler fives times, and with the Packers he won a Super Bowl. He also had  a turbulent relationship with TLC member Lisa Lopes, and often spent lavishly, even dropping $1 on jewelry alone. In 2007, he filed for bankruptcy and then became a high school coach.

Sidney Moncrief

Sidney Moncrief made millions during his 11 years playing in the NBA, becoming a five time All-Star while playing for the Bucks. He even won the Defensive Player of the year twice, a rare feat. However, by 2005 he declared bankruptcy. He began working as a coach for the Fort Worth Flyers and a a sports analyst for Fox Sports in order to try to improve his financial standing.

Travis Henry

While Travis Henry had a successful NFL career, the fact that he fathered 11 children with 10 different women means that he has to keep up with a whole lot of child support. Of course, that is quite difficult, when it is estimated that his child support payments comes out to about $170,000 a year. In 2009, he was arrested when he failed to pay. Though he signed a 5 year contract for $22.5 million with the Broncos, drug use and bad behavior meant he was fired just one year into the contract.

Adrian Peterson

Adrian Peterson has had a tumultuous life both on and off the field. He had a successful NFL career going for him until his legal issues began to interfere. Additionally, he made several bad investments and then took out loans to try to make up for them, causing him to owe millions to creditors and dealing with several settlements after defaulting on his loans. He played for a lot longer than expected since he needed to keep earning money to cover his payments.

Rick Mahorn

Rick Mahorn played in the NBA for 18 seasons, which is seriously impressive. He played with the Pistons in 1989 while on their title run. However, about 10 years after he retired from the NBA he was bankrupt. However, he worked hard to get himself back on his feet financially, working as a Pistons broadcaster and a coach in the Big3 league and he is no longer in debt.

Johnny Unitas

Johnny Unitas was a legendary NFL player who is considered to be the prototype of the modern day marquee quarterback, even being inducted into the Pro Football Hall of Fame in 1979. However, he poured a large part of his life savings into a company that went bust, leaving him is financial trouble to the tune of $3.2 million in debt.

Erick Strickland

Erick Strickland played with six different teams through nine seasons in the NBA. He was able to amass a $13 million fortune while he played, however, he lost a significant amount of money due to a bad investment after trusting someone who took advantage of him.

Michael Vick

Michael Vick was one of the top earning NFL players by 2006, but his time at the top wouldn’t last. He made a series of bad investments and faced a $45 million lawsuit from his former agent. In 2007, he was suspended from the NFL indefinitely without pay after pleading guilty during the Bad News Kennels dog fighting investigation. He filed for bankruptcy shortly after. After being released from prison, he played for several more NFL teams until he retired in 2017.

Derrick Coleman won the Rookie of the Year award in 1991 and became an All-Star in 1994. Throughout his NBA career, he was able to amass $91 million, but several years after his retirement in 2005, he declare bankruptcy. Drinking problems and living a lavish lifestyle led him to lose his money. However, he decided to turn things around and works as a spokesperson at Syracuse University and also campaigns for clean water in Flint, Michigan, his hometown.

Raghib “Rocket” Ismail

Raghib “Rocket” Ismail ha a successful college football career at Notre Dame and began his professional career in the Canadian Football League. He then had an NFL career between 1993 and 2001. However, he made a bad investment in several businesses that never took off, costing him a massive amount of money.

Randy Brown is best known for his time spent playing for the Chicago Bulls from 1995 until 2000. He managed to accrue $15 million during his time in the NBA, but after investing in several restaurants and real estate ventures, he lost a significant amount of money. He managed to turn things around after being hired by the Bulls as director of player development and later assistant general manager.

Mark Brunell had a successful NFL career that earned him about $50 million, which should mean he would be set for life. However, in 2010 he filed for bankruptcy with just $5 million of assets and more than $25 million of debts. He lost a lot of money investing in Whataburger locations that failed and closed down. In 2012, he was hired by the Lions as a quarterback coach so he could get back on his feet financially.

Mark Ingram Sr.

Mark Ingram Sr. was a first round NFL draft pick and spent 10 seasons playing in the league. He even won a Super Bowl while playing for the giants. In 1996, he retired, and that’s when his problems began. He tried to get away with money laundering but after he was caught, he spent 7 years in prison and had to pay many fines. In 2018, he was sent to jail once again after failing to pay his $500 monthly reparation and not notifying his probation officer of his change of address.

Dan Issel

Dan Issel is a legendary Nuggets player, becoming an All-ABA player six times, All-Star seven times, and being inducted into the Basketball Hall of Fame. However, he made some bad investments which caused him to declare bankruptcy by 2009. Issel owed a combined $4.5 million to 34 different creditors. He had to auction off some of his memorabilia, but he has been able to get back on his feet financially since then.

Warren Sapp amassed a fortune of $82 million during his time as an NFL player, and after retiring, he earned $45,000 a month as an analyst. However, he eventually filed for bankruptcy with just $826 to his name. He spent frivolously and eventually had to auction off all of his expensive luxury possessions as well as a Florida home to pay off his debts.

Dennis Rodman

Dennis Rodman is one of the best known players to have played in the NBA. During his basketball career, he managed to make about $25 million, but extensive spending got him in a bit of hot water. He owned $800,000 in child support as well as $50,000 is spousal support, leading him to declare bankruptcy.

Charlie Batch

Charlie Batch had a moderately successful career in the NFL, but he won two Super Bowls during his time with the Steelers. Though he made a decent amount of money while in the NFL, he filed for bankruptcy in 2011 and nearly had to sell off his Super Bowl rings. He made several bad real estate investments that caused him to reach $8.3 million in debt. However, he managed to pull it together while working on NFLPA as a broadcaster.

Shawn Kemp played for the SuperSonics and went on to six All-Star games and led the SuperSonics through a title run in 1996, though they ultimately lost to the Bulls. He made over $91 million during his career, but by 2022, he was broke after dealing with money-draining legal issues and having to keep up with child support for six different families.

Antoine Walker

Antoine Walker spent 13 seasons in the NBA, earning him a whopping $100 million. However, lavish spending and supporting 70 family members and friends means that money goes fast. He filed for bankruptcy in 2010, with $12 million in debt and his assets amounting to just $4.3 million. By 2013, he managed to get out of debt but he did hae to sell his NBA championship ring.

Lawrence Taylor

Lawrence Taylor played during a time when defensive players didn’t make a handsome salary as they do today. However, he also had a drug habit that caused him to spend $1000 a day on both drugs and escorts. Along with several bad investments, Taylor ended up without any money. He also gave the IRS a false tax return. In 1998, he filed for bankruptcy and later got in trouble for tax evasion and failing to pay child support.

Mookie Blaylock

Mookie Baylock was one of the best defensive players of his time, which helped him earn about $31 million during his career. However, he struggled with alcohol and substance abuse, so a lot of his money was drained due to that along with court troubles. In 2013, he was in a car accident in which he was driving, ending in a fatality. He plead guilty and served 3 years along with 8 years of probation, leaving him without any funds at all.

Terrell Owens

Terrell Owens made about $80 million while playing in the NFL. However, his spending was out of control, and along with having to pay $45,000 a month in child support, he reached the end of his funds, his net worth dwindling down to half a million dollars. He nearly went to jail for avoiding child support payments, but he managed to get work in the CFL and Fan Controlled Football to avoid more issues.

Glen Rice

Glen Rice spent 15 season in the NBA, earning him a sizable net worth of $68 million. However, he made several bad investments and along with many child support payments, leading him to financial ruin. He began selling his memorabilia, making public appearances, and charging for autographs. However, despite all of this, in 2022 a judge agreed to reduce his monthly child support payments.

Latrell Sprewell

Latrell Sprewell was playing for the Warriors when he was involved in a violent incident with coach P.J. Carleismo. The Warriors avoided his contract, but he went on to sign with the Knicks. In 2004, he declined an offer from the Timberwolves for $21 million, saying that was not enough to “feed his family.” However, after his retirement, he was sued by his ex for $200, saying that he didn’t support her and their four children. Sprewell had to sell his yacht, and foreclosed two homes. Several years later, the state of Wisconsin claimed that he was behind in his taxes to the tune of $3.5 million.

Tiki Barber

Tiki Barber had a very successful running back career, earning millions throughout. He turned down a $50 million two year contract with the Giants in order to retire, which means he must have been quite well off at the time. However, after it was discovered that he had an affair with an NBC intern, he lost his broadcasting job with the network and his wife divorced him.

Eric Williams

Eric Williams spent 12 season in the NBA, earning about $40 million throughout his career. However, 10 years after his retirement, he ended up homeless and in debt, and on top of that he was also $24,000 behind on child support.

Deuce Mcallister

Deuce Mcallister made about $70 million while playing in the NFL, as he was one of the top paid running backs at the time. However, a bad business investment in a car dealership cost him, when Nissan sued him for $6.6 million, leading him to declare bankruptcy on behalf of the dealership. His home was then auctioned off.

Allen Iverson

Allen Iverson was one of the most highly paid NBA stars while he was playing, with $20 million being his yearly salary for several of those years. In 2008, his wife filed for divorce, and it was reported that the NBA star was broke. He spent frivolously, and during the divorce proceedings he allegedly shouted “I don’t even have money for a cheeseburger.”

Dan Marino

Dan Marino is probably best known for being the best quarterback that never actually won a Super Bowl. The former Miami Dolphin star followed his incredible career with some pretty bad financial decisions, with his investments causing him to lose $14 million. However, he is managing to stay afloat thanks to his CBS broadcasting job.

William Perry

William Perry, who was nicknamed “Refrigerator,” had a great career with the Chicago Bears, winning Super Bowl XX, in which he scored a touchdown. Though he earned millions, a series of health issues caused him to sell his Super Bowl championship ring for $20,000. By 2016, he moved into a retirement home and is allegedly living off of disability payments from the NFL as well as social security payments.

Clifford Robinson

Clifford Robinson played in 18 season of the NFL, earning $60 millions throughout his career. However, just two years after he retired, he filed for bankruptcy, though his assets were worth $7.1 million at the time, he owed $12.4 million. He was able to get back on his feet with his Uncle Cliffy cannabis business. He sadly passed away in 2020 when he was just 53 years old.

Clinton Portis

Clinton Portis was once the highest paid running back in the NFL. He eventually signed an 8 year, $50.5 million contract but due to injuries, he was unable to finish his career as he had hoped. 5 years after his NFL career, he filed for bankruptcy after some bad investments. He was later accuse of defrauding the NFL health program, and spent 6 months in jail.

Darius Miles

Darius Miles made waves when he became a successful player after being recruited straight from high school. He earned $62 million during his 8 seasons in the NBA, but a knee injury forced him to return early. His lavish spending and bad investments forced him to declare bankruptcy seven years after his retirement.

Luther Elliss

Luther Elliss spent 10 years playing in the NFL, mostly for the Detour Lions. He earned about $10 million during his career, but he spent a lot of his money on cars and jewelry, and along with poor investments, he was $1.6 million in debton his mortgage  just 5 years after retiring. He later was hired as a college football coach in 2017.

Joe Smith

Joe Smith spent 16 season in the NBA, but played for 12 different teams throughout. He earned $60 million during his time in the NBA, but because he kept moving around and buying new homes in each place he moved to, he ended up bankrupt by 2018. With help from a financial advisor that A.Rod recommended to him, he was able to pay off his debts and get back in good financial standing.

Bernie Kosar

Bernie Kosar played in the NFL for 12 seasons, signing for a $6 million contract in his first year alone. He decided to let his father manage his money, which ended up being a huge mistake. His father used up Kosar’s signing bonus on cars and on his mortgage. Ultimately, his father caused him to lose $15 million and by 2009, Kosar declared bankruptcy.