Some star athletes have notoriously short career spans, and others, despite earning a great amount of money fall prey to bad investments, financial mismanagement, or overtly luxurious lifestyle – squandering their wealth on speeding cars, booze and multi-bedroom mansions on a beach. Here we present you the list of Top 6 Richest Athletes Who Went Broke.
Today we give you a glimpse into the top 6 richest athletes who went broke. Want-to-rich-and-famous-players reading this, be cautious – you’ve been forewarned!
6. Marion Jones
Estimated Earnings – $7 million per year
Marion Lois Jones is a former American track and field athlete who during her heyday earned something between seventy to eighty thousand dollars plus another one million from endorsements and bonuses. In the Summer Olympics of 2000, Jones won 3 gold and 2 bronze medals. But later, the Olympic committee stripped-off the medal after they found Jones guilty. She faced charges for using steroids and also for her link with the BALCO scandal.
Her multi-million dollar endorsement deals were pulled back, she went into debt during the court trials, had to sell off properties and loose her million dollars worth house. She definitely deserves her place among the richest athletes who went broke.
5. John Arne Riise
Estimated Lifetime Earnings – over $20 million
Norwegian footballer John Arne Semundseth Riise has earned praises for his powerful shots and incredible stamina. At one point he was earning around $75,000 per week. But things soon escalated and Riise had to declare bankruptcy in 2007.
Reports have it that Riise has had differences in opinion with his financial advisor, over investments. He also received charges for his connection to a case of $4-million fraud.
4. George Best
Estimated Lifetime Earnings – $100 Million
Described as the “greatest player to ever pull on the green shirt of Northern Ireland”, Best was an Irish footballer who played for Manchester United and the Northern Ireland national team. Best’s talent and charisma made him popular and rich but soon his extravagant lifestyle leads to problems like alcoholism, controversies and bankruptcy.
He suffered alcohol abuse for the rest of his life. Best once confessed how he had ruined his career and lost his riches saying – “I spent a lot of money on booze, birds (women) and fast cars – the rest I just squandered.” He now holds his place among the richest athletes who went broke.
3. Scottie Maurice Pippen
Estimated Lifetime Earnings – $120 Million
Scottie Maurice Pippen is one of the top 10 richest athletes who went broke. Now retired, American basketball player Pippen is a six-time NBA champion from back when he played with the Chicago Bulls. Alongside Michael Jordan, Pippen also became a reason for making NBA popular around the world in the 90s.
Nickname ‘Pip’, he holds a number of records including, being the only player to win both the NBA title and an Olympic Gold medal in the same year, twice (in 1992 & 1996 respectively). Following a number of bad business deals and financial mismanagement, Pippen lost millions of dollars. He had to put his luxurious mansion on sale and hold a yard sale to raise money.
2. Michael Vick
Estimated Lifetime Earnings – More than $130 million
Speaking of richest athletes who went broke, Michael Dwayne Vick is an American footballer whose majestic performance on-field earned him popularity, endorsement and truckload of money. In 2007, Vick booked with charges of promoting, funding and operating dog-fighting ring in his property.
He was found guilty of being personally engaged in killing dogs who could not fight by hanging or drowning them. After pleading guilty Vick served in prison for twenty-one months. This hiatus in his career combined with the withdrawal of sponsorship and financial mismanagement made him bankrupt. Currently, he plays as a free agent.
1. Mike Tyson
Estimated Lifetime Earnings – $400 million
Mike Tyson is one of the richest athletes who went broke, otherwise known as Michael Gerard ‘Mike’ Tyson is the former undisputed heavyweight champion of the world from America. At 20 he made a name for himself by becoming the youngest boxer to win the WBC, WBA and IBF heavyweight titles. Tyson rose to stardom and became broke and bankrupt in 2003. Despite making millions of dollar each year, Tyson was a reckless spender.
In 2000, financial mismanagement leads him to fire everyone who was working with him and recruit new accountants. After a few years of financial struggle combined with lack of income, Tyson told himself “Wow, this is over.” The ‘Iron Mike’ retired in 2005.
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