From Millionaire to Broke: How These 7 Star Athletes Blew Their Multi-Million Dollar Fortunes

Despite signing multimillion-dollar contracts, many professional athletes find themselves in financial turmoil, grappling with a combination of poor financial literacy, extravagant spending habits, and misplaced trust in advisors. (L-R) Dennis Rodman (image via Instagram, @dennisrodman), Delonte West (image via Instagram, @dluckyleftywest), and Lawrence Taylor, image via Instagram, @lawrencetaylor56) NFL great Terrell Davis recently shared a horror story about being misled and swindled by an adviser, who was recommended by a friend, who mismanaged his accounts, losing him a lot of money early in his career. His story is not uncommon, as many athletes come from backgrounds where they’ve never had to manage large sums of money, and without proper guidance, they can fall prey to extravagant lifestyles, risky investments, and even unethical advisors. The unpredictable nature of sports careers, combined with the pressure to uphold a certain image, often leads to reckless spending, making them vulnerable to financial collapse once their playing days come to an end. The situation is dire for some athletes, who experience not just hiccups in their investment portfolios but total financial ruin after once basking in the glory of substantial earnings. Here are seven notable professional athletes who faced misfortune after reaching the pinnacle of...