Pro Sports worst money managers

Almost 80 percent of National Football League players are flirting with bankruptcy two years after they retire, according to Sports Illustrated. NBA players aren’t faring much better. 60 percent of former National Basketball Association players end up broke within five years of retirement. Athletes squander millions of dollars due to bad decisions, lavish spending and poor financial planning. Here is a list of athletes that have lost their fortunes through some of the biggest financial blunders of all time.



Scottie Pippen

Known more for his on court defense than his off court business sense, former Chicago Bulls star Scottie Pippen lost $120 million in career earnings due to poor financial planning and bad business ideas. Air Jordan’s sidekick blew $27 million on bad investments and spent $4.3 million on a Gulfstream II corporate jet.


Evander Holyfield

Four-time boxing champ Evander “The Real Deal” Holyfield reportedly made over $250 million in cash during his boxing career, but despite this he reportedly is flat broke. Holyfield lost all his money by making “smart” business decisions look really foolish. You thought buying a house was a smart move? It normally is, but not when you buy a house the size of Rhode Island. Holyfield bought a $20 million house with over 54,000 square feet and 109 rooms. The house has 11 bedrooms, 17 bathrooms, a movie theater, a bowling alley and an Olympic-size swimming pool. Imagine how much it must cost to cut the grass on all 235 acres! You could buy a Range Rover with the electric bill payment alone.


Lenny Dykstra

Former New York Mets and Philadelphia Phillies star Lenny “Nails” Dykstra was a success on the baseball diamond, but in the business field Dykstra has struck out. Dykstra’s failed businesses include car washes, a magazine company, real estate investing and a stock trading website. According to Dykstra’s July 2009 bankruptcy filing, he owed more than $30 million to creditors, including his $18.5 million purchase of Wayne Gretzky’s home. The amazing part is that after two foreclosed homes and numerous failed businesses Dykstra is offering the investment advice that led him into bankruptcy for a mere $899 a year! In the investment world, it is often said that past history does not dictate future performance. Nevertheless, it’s pretty clear Dykstra isn’t the guy to go to for advice.

Latrell Sprewell
Look up the word “shortsighted” in the dictionary and you will see a picture of Latrell Sprewell. He famously turned down a $21 million contract because he said it wasn’t enough money to feed his family. Sprewell, who made over $96 million during his career, lost his $1.5 million dollar Italian yacht, named “Milwaukee’s Best”, in 2007. According to MSNBC, a U.S. marshal seized the yacht after Sprewell defaulted on his mortgage. His $5.4 million house went into foreclosure in May 2008. Don’t blame Sprewell for turning down the three-year, $21 million contract though. I mean really, who could live off a measly $7 million a year?



John Daly

Two-time PGA major champ John Daly gambled away between $50 and $60 million in career earnings, according to his 2006 autobiography. Daly once lost $1.65 million in five hours playing the slot machines at a casino. If you think that’s impressive, there’s more. Daly blew $1.2 million in a mere two hours and 30 minutes at a casino in Las Vegas. He just had his $1.6 million house foreclosed on. Did Daly quit gambling after blowing so much cash at the casino tables? Not by a long shot. Instead, he decided to downgrade from the $5,000 slot machines to the $100 and $500 machines. It looks in John Daly’s world, that is considered sound financial planning.

Jack Clark

Former professional baseball slugger Jack Clark was driven into bankruptcy in 1992 by his appetite for luxury cars. According to his bankruptcy filing, he owned 18 luxury automobiles, including a $700,000 Ferrari and a Rolls Royce. Clark was trying to pay 17 car notes simultaneously, and whenever he got bored with a car he would get rid of it and just buy another one. He ended up losing million-dollar homes and his drag-racing business because of his extravagant spending habits, but despite one of the most publicized bankruptcies in baseball, Clark reportedly got back on his feet in the late ’90s.


Mike Tyson
The king of them all is boxer Mike Tyson, who squandered a $350 million to $400 million dollar fortune. So what did “Iron” Mike spend his fortune on? Everything. He dropped half a million dollars on a 420-horsepower Bentley Continental SC with lamb’s wool rugs, a phone and a removable glass roof. It is one of only 73 Bentley Continental SCs ever built. The sad part is that’s not even the only Bentley that Tyson owned! He spent over $4.5 million dollars on cars alone. Throw in a $2 million dollar bathtub and $140,000 for two Bengal tigers and you can see why Tyson’s fortune is down for the count. He filed for bankruptcy in 2003.

Latrell Sprewell ::lmao::

7 million per year isnt enough to "feed my family"

Its better than being dead broke LOL

good read, thanks.

Shows you have stupid most these fuckers are! I mean damn, put $5 mil in the bank, leave it alone and live on the interest.

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Originally Posted by GoBlue

Shows you have stupid most these fuckers are! I mean damn, put $5 mil in the bank, leave it alone and live on the interest.

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No one ever said you have to be smart to :throw a punch, shoot a ball into a hoop ,or catch a football.


People think celebrities are smart because they make alot of money and are on tv but in reality most are dumber than a box of rocks. Most celebrities never graduated high school and most sport players barely made it into college.

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Originally Posted by Luke

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Originally Posted by GoBlue

Shows you have stupid most these fuckers are! I mean damn, put $5 mil in the bank, leave it alone and live on the interest.

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No one ever said you have to be smart to :throw a punch, shoot a ball into a hoop ,or catch a football.


People think celebrities are smart because they make alot of money and are on tv but in reality most are dumber than a box of rocks. Most celebrities never graduated high school and most sport players barely made it into college.

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And way to many people look up to these dumb fucks because of the cash they make not realizing how dumb they are and how most of them lose it all

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Originally Posted by GoBlue

And way to many people look up to these dumb fucks because of the cash they make not realizing how dumb they are and how most of them lose it all

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Exactly ::handshake::

have you guys seen the show how lottery changed my life there is some dumb fuc&ers on that show they get all this money and then end up declaring bancruptcy 10 years later or less

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Originally Posted by HUSKERPOWER

have you guys seen the show how lottery changed my life there is some dumb fuc&ers on that show they get all this money and then end up declaring bancruptcy 10 years later or less

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Haven't seen in but I think if you won a ton of cash it would cause more problems that it would help. Every one would expect a handout. Give me a win of maybe 250K and I'd keep my life as it is

I got no problem tellin mutherfuckers you aint gettin shit from me, if I wont the lottery. lol

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Originally Posted by IWS Zak

I got no problem tellin mutherfuckers you aint gettin shit from me, if I wont the lottery. lol

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Maybe just give all of your members with let's say, over 720 post one mil and screw the rest?

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Originally Posted by GoBlue

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Originally Posted by IWS Zak

I got no problem tellin mutherfuckers you aint gettin shit from me, if I wont the lottery. lol

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Maybe just give all of your members with let's say, over 720 post one mil and screw the rest?

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I got the most posts


PAY ME ::lmao::

I dont think you guys read my post...hahaha

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Originally Posted by HUSKERPOWER

have you guys seen the show how lottery changed my life there is some dumb fuc&ers on that show they get all this money and then end up declaring bancruptcy 10 years later or less

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Not only lottery winners but I also read an article once about people that get free houses on that show extreme make overs and lots of them lose the free houses they got.

These idiots get 200-500k houses for free and all the taxes paid for for 20 years and then they take out loans on the free houses and default on them.Some people are so stupid

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Originally Posted by IWS Zak

I got no problem tellin mutherfuckers you aint gettin shit from me, if I wont the lottery. lol

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I'd be the sameway unless it was a really really close friend

I think all this proves money isn't everything. I mean it sure can make things nice. I'd rather be drinking Maker's Mark versus the Ten High right now, but I am a cheap fuck

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Originally Posted by Luke

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Originally Posted by HUSKERPOWER

have you guys seen the show how lottery changed my life there is some dumb fuc&ers on that show they get all this money and then end up declaring bancruptcy 10 years later or less

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Not only lottery winners but I also read an article once about people that get free houses on that show extreme make overs and lots of them lose the free houses they got.

These idiots get 200-500k houses for free and all the taxes paid for for 20 years and then they take out loans on the free houses and default on them.Some people are so stupid

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There is one around the corner from me. They had to sell it. Im not sure why though, but we saw it had a for sale sign on it like 2 years after they built it.

This is the house here. I actually donated some electrical supplies to one of electritions that did some of the work.

http://abc.go.com/shows/extreme-makeove ... mily/54600

Sticks out like a mutherfucker on that block...LOL

Its like right in the middle too, its a bunch of houses that look alike, and then BAM, that one.

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Originally Posted by IWS Zak

There is one around the corner from me. They had to sell it. Im not sure why though, but we saw it had a for sale sign on it like 2 years after they built it.

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These people are pathetic and make me sick .They get a very nice house built for them for free that they owe nothing on plus get the property taxes paid for for 20 years and still find some way to lose the house.

Build me that house and pay it off ,I'd be set for life