Athletes make millions of dollars these days. Unfortunately, most of them have no financial skills and if they are not smart with their money, they could end up bankrupt. Kidzworld has compiled the Top 10 Athletes that have gone bankrupt.
#10 – Evander Holyfield
Evander Holyfield had too many children
Evander Holyfield has made more than $250 million and it is almost all gone. His big problem is that he has 11 children and he is $9000 behind in child support money. The bank has recently foreclosed on his $10 million dollar mansion and apparently he owes $500 thousand dollars to a landscaping firm that was doing all the yard work.
#9 – Johnny Unitas
Johnny Unitas made some bad investments
Johnny Unitas didn’t earn much in the NFL as one of the greatest quarterback’s ever. His yearly paychecks started at $7,000 and his biggest was only $425,000. But Johnny made it to the Hall of Fame and some of his records will never be touched. That’s why it’s hard to believe that he filed for bankruptcy in 1991, and then he died 11 years later with many lawsuits on his shoulders.
#8 – Bjorn Borg
Bjorn Borg and the Bottle
One of the all-time great tennis players from Sweden became a drug-addict and drugs are probably the easiest way to lose your fortune. Bjorn Borg lost his millions after winning 11 grand slam titles, and now he’s trying to make money selling underwear.
#7 – Sheryl Swoopes
Sheryl Swoopes does not like lawyers
Sheryl Swoopes was the Michael Jordan of the WNBA and she made more than 50 million dollars. So how is it that she filed for bankruptcy in 2004 owing more than $750,000? Apparently her lawyers and agents took most of it from her.
#6 – Travis Henry
Travis Henry's Run for Drugs
Travis Henry was a great running back for the Buffalo Bills and Denver Broncos. But with a serious drug problem and 9 children with 9 different mothers, Travis went into debt big-time. To top it all off, he lost a $25 million dollar contract with the Broncos when he was arrested for drug trafficking.
#5 – Kenny Anderson
Kenny Anderson couldn't save a penny
Kenny Anderson piled up over $60 million in NBA dollars before he filed for bankruptcy in 2005. How did his estimated $60 million dwindle to nothing? Easy. He kept 8 cars in the garage of his five-bedroom Beverly Hills home. He gave himself a monthly allowance of $10,000 that he dubbed “hanging out money.” He regularly handed out $3,000 to $5,000 to friends and relatives.
#4 - Scottie Pippen
Scottie Pippen... I'm on a Jet
Scottie Pippien made over $120 million in the NBA. Then he bought a jet. It was the worst investment as it plummeted Scottie’s bankroll into a $9 million dollar debt to lawyers and banks. He tried to make a comeback into the NBA in 2007 just to pay back some bills.
#3 – Marion Jones
Marion Jones was fast... fast in crime
Marion Jones was labeled the fastest woman in the World at one point in her life while she made over $7 million dollars every year. She lost everything, including all her gold medals, thanks to steroids, check counterfeiting, check forging, committing perjury to the IRS, money laundering and more illegal drugs.
#2 - George Best
George Best was a sucker for the worst
George Best played 21 years as one of Soccer’s greatest hero’s. He made over $100 million dollars before he lost it all when he became an alcohalic. He said he spent all his money on “booze, fast cars, and women”.
#1 – Mike Tyson
Mike Tyson's Fists of Fury
Mike Tyson is the most famous athlete for losing his fortune. Mike won more than $400 million dollars and at one point he lost everything. There’s a big list of reasons why Mike lost it all… the death of his father-figure trainer, a nasty divorce, that federal rape charge, felony possession of drugs, a DUI, and a bloody ear incident.
