We all know athletes earn a lot money which allows them to live lavish. There is actually a high percentage of pro sports players that don’t know how to curtail their spending and they wind up spending themselves right into court to file for bankruptcy.
Even though it appears to us average people that Athletes make enough money for a life time. There is actually a number of athletes who went complete broke. Analysts at Mint.com report that 60% of NBA players file bankruptcy within five years of retirement. We came up with a list of few former High Paid athletes who lost everything over the past years.
Mike Tyson: The Boxing Legend reigned as the undisputed world heavyweight champion from 1987 to 1990. Tyson declared bankruptcy in 2003, despite having received over $30 million for several of his fights and $300 million during his career.
Diego Maradona: One of the world’s greatest soccer players, who made a great living playing pro soccer. He was caught up in 2009 for unpaid taxes over decades. He paid off $54 Million of unpaid Taxes which led him file for bankruptcy.
Allen Iverson: He was one of the most brilliant NBA Player of his time. Nicknamed " The Answer " , Allen Iverson has earned more than $200 Million during his 15 years of career. Celebritynetworth.com reports that Allen Iverson net worth is currently at $1million.
Warren Sapp: One of the most acclaimed names in the NFL, Warren Sapp has one of the most memorable bankruptcy stories ever.
Delonte West: DC native drafted in 2004, Delonte West is probably the athlete with the saddest downfall story. He was seen living in the street in a viral video on social media. Celebritynetworth.com reports that Delonte West net worth is currently at $10 thousand.
Travis Henry: The NFL running back who played for multiple teams, had a big financial downward spiral and a lot of it had to do with having nine children by nine different women reports moneyinc.com.
The List could be longer, but we would like to get your thought on this topic. Why is that People who earned so much money go broke ?