20 Athletes Who Have Gone Broke and Filed for Bankruptcy

By Tyler

Picking Out Prominent Athletes Who Went Bankrupt

athletes who went bankrupt — Professional athletes are known for their lavish lifestyles, which are aided by the fact that most of the men and women who are shown on television make millions of dollars every year. Making large sums of money doesn't mean that spending recklessly is a smart thing, as shown by these 20 current and former athletes who ended up going bankrupt.

20. Vince Young

Vince Young bankrupt athletes

20. Vince Young

Vince Young bankrupt athletes — Young made $26 million in just seven seasons in the NFL, but the free agent quarterback filed for bankruptcy in January of 2014, heightening the need to latch on with a team this fall.

19. Mike Tyson

mike tyson bankrupt athletes

19. Mike Tyson

mike tyson bankrupt athletes — Tyson is known by many for his outlandish ways during his professional boxing career, which included blowing through more than $300 million in earnings, and filing bankruptcy while $27 million in debt in 2003.

18. Michael Vick

Michael Vick bankrupt athletes

18. Michael Vick

Michael Vick bankrupt athletes — Vick was put $20 million into debt and forced into bankruptcy in July 2008 as a result of extensive lawyer fees and lost salary in accordance with his dog fighting charges and subsequent imprisonment.

17. Kenny Anderson

kenny anderson bankrupt athletes

17. Kenny Anderson

kenny anderson bankrupt athletes — Anderson made more than $60 million during his playing days, but was forced into bankruptcy in 2005 because of a plethora of bad business investments.

16. Bill Buckner

bill buckner bankrupt athletes

16. Bill Buckner

bill buckner bankrupt athletes — Buckner is best known for helping the Boston Red Sox lose the 1986 World Series, but the former first baseman saw an economic low in 2008 when he declared bankruptcy after his car dealership failed.

15. Allen Iverson

allen iverson bankrupt athletes

15. Allen Iverson

allen iverson bankrupt athletes — Iverson made over $200 million during his NBA career, but poor spending habits, bad investments and bad lifestyle choices helped him blow this total and declare bankruptcy.

14. Curt Schilling

Curt Schilling bankrupt athletes

14. Curt Schilling

Curt Schilling bankrupt athletes — Schilling took a $75 million loan from the state of Rhode Island to start up a video game company that never really took off, and he ended up having to declare bankruptcy as a result.

13. Lawrence Taylor

lawrence taylor bankrupt athletes

13. Lawrence Taylor

lawrence taylor bankrupt athletes — Taylor was once worth more than $10 million, but bad spending habits, a drug addiction and general poor lifestyle choices forced the Football Hall of Fame member into bankruptcy in 2009.

12. Diego Maradona

Diego Maradona bankrupt athletes

12. Diego Maradona

Diego Maradona bankrupt athletes — Maradona is considered by many to be the best soccer player ever, but the Italian Tax Authority did not care about this when they came calling for $54 million in unpaid taxes, and eventually forced the 53-year-old into bankruptcy.

11. Sheryl Swoopes

Sheryl Swoopes bankrupt athletes

11. Sheryl Swoopes

Sheryl Swoopes bankrupt athletes — Swoopes made over $50 million during her playing days, but the WNBA legend was forced into bankruptcy in 2004.

10. Mark Brunell

mark brunell bankrupt athletes

10. Mark Brunell

mark brunell bankrupt athletes — Brunell had $25 million in liabilities when filing for bankruptcy in 2010, which is absolutely staggering when one considers he had only $5.5 million in assets at the time.

9. Scottie Pippen

bankrupt athletes Scottie Pippen

9. Scottie Pippen

Scottie Pippen bankrupt athletes — Pippen may have six career NBA titles to his name, but that did not stop the former Chicago Bulls star from blowing $120 million in career earnings and being forced into bankruptcy.

8. Darren McCarty

bankrupt athletes Darren McCarty

8. Darren McCarty

bankrupt athletes Darren McCarty — McCarty entered bankruptcy in 2006, which was spurred on by a combination of bad investments, poor spending habits and $6.2 million in liabilities.

7. Evander Holyfield

evander holyfield bankrupt athletes

7. Evander Holyfield

evander holyfield bankrupt athletes — Holyfield is known by many as the man who had part of his ear bitten off by Mike Tyson, and the former star boxer blew through $250 million in career earnings before declaring bankruptcy.

6. George Best

George Best bankrupt athletes

6. George Best

George Best bankrupt athletes — The late Best was one of the best players in Manchester United history, but alcoholism and excessive spending forced the winger into bankruptcy in retirement.

5. Brad Friedel

brad friedel bankrupt athletes

5. Brad Friedel

brad friedel bankrupt athletes — Friedel was forced into bankruptcy in 2011 as a result of investing in a soccer academy that went underwater, but the Tottenham Hotspur backup goalkeeper has gotten back onto his feet in recent years.

4. Lenny Dykstra

Lenny Dykstra bankrupt athletes

4. Lenny Dykstra

Lenny Dykstra bankrupt athletes — Dykstra was worth more than $58 million in 2008, but he entered bankruptcy in 2009, and he was sent to prison in 2012 for bankruptcy fraud.

3. Johnny Unitas

Johnny Unitas bankrupt athletes

3. Johnny Unitas

Johnny Unitas bankrupt athletes — Unitas was forced into bankruptcy in 1991 as a result of $4 million in unpaid loans, dampening the mood of a man who some consider to be the best quarterback in football history.

2. Marion Jones

marion jones bankrupt athletes

2. Marion Jones

marion jones bankrupt athletes — Jones saw her reputation dragged through the mud as a result of a performance enhancing drugs scandal, and the drop in income that resulted from this scandal ended up with the former track star claiming bankruptcy in 2013.

1. Tony Gwynn

Tony Gwynn bankrupt athletes

1. Tony Gwynn

Tony Gwynn athletes bankrupt — The late Gwynn is known as one of the best baseball players and generally one of the best human beings in baseball history, but he did some financial difficulties early in his career, which were highlighted by declaring bankruptcy in 1987.

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