Athletes Of My Time To Go From ‘Financial Fame To Financial Shame’ [LIST]
In recent weeks, I have noticed more and more former professional athletes filing for bankruptcy. How can these athletes go from Million Dollar contracts to owning NOTHING?!?! Well it happens more often than we know. While recently discussing the issue with Chris Logan, we compiled a list of athletes that have gone from “Fame to Shame” in recent time. Let's look back at a few athletes here that once had it all, but are now are struggling in their financial world. These are just a FEW of the athletes during “my time” that have seemed to lose it all!!!
In recent days we have heard via TMZ that former NBA star Dennis Rodman is in hot water with the law in the state of Florida. Its been reported that Rodman owes $179,000 in back child support and that paying it back may be a problem for the former NBA star. In a separate case, Rodman allegedly owes his ex-wife Michelle Rodman $800,000 in another child support case. Again in this case, Rodman says he doesn't have the money to pay the tab.
While in the NBA, former NBA player Antoine Walker made $110 Million during his career. However, since walking away from the game, Walker has faced nothing but financial distress. Walker has had a mountain of financial creditors on his back since his playing days were over, and was even wanted in Vegas for fraud charges. To be fair here, Walker's generosity may have been his biggest enemy. He was a generous friend and teammate who had custom suits made for coaches, routinely picked up giant team dinner tabs and gave financial support to underprivileged youngsters. He was basically spending money like it was going out of style.
Perhaps the most recent of all former players to file for “Chapter-7″ is former NFL great Warren Sapp. After his career on the field the once feared lineman took to the broadcast industry. Still, not even the “day job” could help alleviate his financial woes. TMZ recently reported that not only has Sapp racked up millions of dollars of debt, he says that he also lost his 2002 Superbowl ring. According to the docs, Sapp owes more than $6.7 million to various creditors …and Hundreds of Thousands dollars to four separate “baby mommas.” TMZ says, “Sapp says he owes $853k to the IRS for 2006 and another $89k for 2010. Sapp says he also owes $2,858 in medical bills for “Corrective Speech and Language Therapy.”
While things seem to be looking better for the guy once labeled as the “Baddest Man On The Planet,” for boxing great Mike Tyson has had his troubles too. Tyson's estimated career earnings range from $300-$400 million. Tyson can site several incidents in his career that may have led to his downfall including three years in prison and various other legal issues. Its hard to believe that at one point, Tyson was worth less that $700 dollars. But his situation has improved through movie deals and other entertainment offers.
One of the best ever to wear a New Orleans Saints uniform had his financial struggles too have his playing days were done. For Deuce McAllister his fortune fell through when he made a bad investment in the car business. As things began to take a turn for the worse in the car industry many that had once invested in it, the car business, ran for higher ground. Unfortunately the former Saint was NOT one seeking higher ground and stayed put at his dealership in Mississippi. The business went bankrupt, with McAllister owing Nissan more than $6.6 million plus almost $300,000 in interest on his car dealership. Deuce earned an approximately $70 million during his playing career.