Top 5 Bankrupt Athletes
Top 5 bankrupt athletes. Athletes often make a lot of money but not always enough to prevent them from going broke. These former athletes all went from riches to rags and are bankrupt!
5. Curt Schilling
Schilling was a famous pitcher who ended his career with the Boston Red Sox in 2008. Schilling was one of the best pitchers of his era. He made a very silly decision to invest all his money in a video game company. Schilling has said he invested as much as $50 million in 38 Studios and has lost all the money earned over his 20-year career.
Schilling already auctioned off the bloody sock he wore in the 2004 World Series while pitching on an injured ankle for $92,613...
4. Arantxa Sanchez-Vicario
Former Spanish tennis star Arantxa Sanchez-Vicario earned $17 million in prize money during her 17-year career that ended in 2002. She earned another $40 million in endorsements. She accuses her parents of losing an estimated $60 million in career earnings through mismanagement. In her memoirs she writes: "My parents left me with nothing and now I am in debt to the tax authorities."
3. Allen Iverson
The former NBA guard earned over $200 million, according to Forbes. Since he ended his career, he reportedly stopped paying the mortgage on a multimillion-dollar Colorado home and owed a Georgia jewelry store a whopping $859,000. For Iversen it's just a waiting game though, recently it was revealed that Reebok set aside a $30 million rainy day trust fund for Iverson. The problem is, he can't touch it until 2030, when he is 55 years old...
2. Evander Holyfield
Boxers are used to taking hard hits, but Holyfield had to take an exceptionally hard hit outside of the ring after his career was already over. Holyfield was forced to hold a memorabilia auction after facing foreclosure, a federal lawsuit and child support payments. Makes you wonder where that $200 million went that he earned during his career...
1. Mike Tyson
A lot of money can be made in boxing. The more you can make, the more you can blow. "Iron Mike" filed for bankruptcy in 2003 with $38 million in debt. A staggering $13.4 million of it was owed to the IRS. According to Time, Tyson made "somewhere between $300 to $400 million" over the course of his boxing career... Btw: There are no NFL players in this list but it is worth mentioning that 78% of all NFL players file for bankruptcy within five years of retirement.
Title: Top 5 Bankrupt Athletes
Published on Jun 3, 2014
Uploaded by: World 5 List
5. Curt Schilling
Schilling was a famous pitcher who ended his career with the Boston Red Sox in 2008. Schilling was one of the best pitchers of his era. He made a very silly decision to invest all his money in a video game company. Schilling has said he invested as much as $50 million in 38 Studios and has lost all the money earned over his 20-year career.
Schilling already auctioned off the bloody sock he wore in the 2004 World Series while pitching on an injured ankle for $92,613...
4. Arantxa Sanchez-Vicario
Former Spanish tennis star Arantxa Sanchez-Vicario earned $17 million in prize money during her 17-year career that ended in 2002. She earned another $40 million in endorsements. She accuses her parents of losing an estimated $60 million in career earnings through mismanagement. In her memoirs she writes: "My parents left me with nothing and now I am in debt to the tax authorities."
3. Allen Iverson
The former NBA guard earned over $200 million, according to Forbes. Since he ended his career, he reportedly stopped paying the mortgage on a multimillion-dollar Colorado home and owed a Georgia jewelry store a whopping $859,000. For Iversen it's just a waiting game though, recently it was revealed that Reebok set aside a $30 million rainy day trust fund for Iverson. The problem is, he can't touch it until 2030, when he is 55 years old...
2. Evander Holyfield
Boxers are used to taking hard hits, but Holyfield had to take an exceptionally hard hit outside of the ring after his career was already over. Holyfield was forced to hold a memorabilia auction after facing foreclosure, a federal lawsuit and child support payments. Makes you wonder where that $200 million went that he earned during his career...
1. Mike Tyson
A lot of money can be made in boxing. The more you can make, the more you can blow. "Iron Mike" filed for bankruptcy in 2003 with $38 million in debt. A staggering $13.4 million of it was owed to the IRS. According to Time, Tyson made "somewhere between $300 to $400 million" over the course of his boxing career... Btw: There are no NFL players in this list but it is worth mentioning that 78% of all NFL players file for bankruptcy within five years of retirement.
Title: Top 5 Bankrupt Athletes
Published on Jun 3, 2014
Uploaded by: World 5 List
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