Pro NFL Players Who Are Bankrupt

If you were a highly paid athlete, how would you spend your money? For American football players, the answer is “not very well.” Three in four football players for the NFL have financial problems or have gone bankrupt within two years of their professional career retirement. The minimum salary for an NFL player is almost $400,000, while the average NFL salary is $1.9 million. Over the course of an average (six- to seven-year) career, most players will earn more than ten million dollars. Many NFL players are the victims of bad investment advice, listening to those without their best interests in mind. Deuce McAllister, for example, earned $70 million dollars over his NFL career, and was $7 million in debt less than a year after retiring from the league. And it’s reported that Michael Vick spent more than $25,000 per day for almost two years at the height of his NFL career. Several other football players have made similar mistakes — whether it’s hard partying, real estate investments, gambling, or divorce. Learn a lesson from the NFL: save your money, check your investments, and don’t listen to anyone’s advice unless they’re completely trustworthy. Learn more about the NFL’s money woes in the infographic below:

Benched and Broke Infographic
Source: AccountingDegree.com

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