10 Athletes Who Lost It All
Many people want to be athletes because of the money they make. Most people see the millions of dollars that come with signing their names on a piece of paper. A lot of money means increased responsibility. There have been a lot athletes who have run into trouble financially. The reasons for their financial distress varies from bad accounting, bad investments and business deals, even marital problems. This is a list of 10 athletes that lost it all.
Curt Shilling was a MLB pitcher who led the Phillies to the ’93 world series, the Diamondbacks in 2001, and retired after winning two world’s series with the Red Sox. After retirement, Shilling went into developing video games and founded Green Monster Games, later named 38 Studios. Shilling laid off the entire staff which resulted in the company failing to meet payroll obligations. The $75 million loan given to Shilling went into default and was then sued by the state of Rhode Island. Currently, Curt Shillings is a broadcast analyst for ESPN’s Sunday Night Baseball.
Mark Brunell has played for four NFL teams during his career. He has one a ring with the New Orleans Saints as their backup quarterback and holder. Mark Brunell retired in 2012 and opened Whataburger fast food locations in Jacksonville, FL. In 2010, Mark filed for chapter 11 bankruptcy due to failed real estate and business deals. It was reported that he had $5.5 million in assets but accumulated $25 million in liabilities.
As a rookie, running back Jamal Lewis helped the Baltimore Ravens win Super Bowl XXXV. Jamal Lewis’ career was tainted when he was hit with a drug charge. He served four months in prison. Six years later Regions bank filed a law suit against Lewis over an unpaid loan in the amount of $660,000. In April 2012 Lewis filed for bankruptcy.
Dennis Rodman is most famous for playing for the Chicago Bulls. His tattoos, nose ring, the multi-colored hair styles, and in-your-face defensive style made him a stand out player. Off the court, his antics made him a person people often wondered about. Rodman’s alcohol problem led t0o much of his legal situations resulting in many fines. On top of all that he was listed to owe $808,935 in back child and spousal support for his ex-wife and two children.
Considered a “bad boy” of the NBA, Allen Iverson was a problem on and off the court. On the court there wasn’t too many people that could contain him. His speed and ball handling skills made him hard for opponents to defend. Off the court it was hard for lawyers to defend him as well. Iverson has had many legal run-ins, some of the most costly ones involves a lawsuit from Marlin Godfrey. Godfrey was assaulted by Iverson’s body guard in a night club. The jury awarded $260,000 to Godfrey. Iverson’s wife divorced him and took custody of their five children request child support and alimony.
Evander “The Real Deal” Holyfield is the only boxer to be five-time World Heavyweight Champion. He is also known for getting his ear chewed off by Mike Tyson. Holyfield has experienced much success outside of the ring with many endorsement deals and business ventures. In 2008 his $10 million home in Atlanta was out up for auction after being foreclosed. One of the six women Holyfield has children with, sued him for unpaid child support and a landscaping firm sued for $550,000 of service that were not paid for.
Latrell Sprewell has played in the NBA for three different teams. The most famous period of his career is when he played for the New York Knicks. During his time there he caught the nation’s attention when he choked coach P.J. Carlesimo in 1997. Sprewell was known to be a flashy player, buying a yacht and being the first with the classic spinning rims. In 2007 his yacht was repossessed after he stilled owed $1.3 million. In 2008 his Milwaukee mansion went into foreclosure and a year later he lost his home in Westchester.
LT is one of the greatest players to step on a football field. His career stretches from 1981 to 1993 and all with the New York Giants. After his retirement, LT started a company, All-Pro Products. In the beginning it was very successful, but fell victim to defraud by a penny stock firm. LT dug himself in a bigger hole when he filed a false tax return in 1999. Other legal battles depleted his money as well as the period of drug abuse.
Marion Jones is a three time gold medal Olympian in track and field. Jones was caught up in the BALCO scandal, when the founder of BALCO admitted to giving Jones and other professional athletes, illegal performance drugs. Jones was stripped of all of her medals and awards. To make matters worse, she confessed to being part of a check-counterfeiting scheme.
Terrell Owens was once the top wide receiver in the NFL. He is also one of the most controversial players ever. Every team he has played for has experienced some type of problem with him. He is most known for his flamboyant touchdown celebrations. Over is 15 year career T.O. has accumulated $80 million. He allowed others to take care of his finances without overseeing his account. His houses in Atlanta and in New Jersey were sold. Other cases of back child support and bad investments also play a role in Owens’ financial woes.