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12 bankrupt NFL Players


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#1 Steve O

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Posted 07 April 2013 - 01:12 PM

http://www.60maxpowe...crowdignite.com

Surprised about Ismail and Mcallister, not so much for the former Bills

#2 Fan in San Diego

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Posted 07 April 2013 - 01:25 PM

Wow ! Sad to say the least. Come from nothing, go back to being nothing.

#3 ny33

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Posted 07 April 2013 - 05:56 PM

As they are at the pinnacle of their careers, many professional athletes believe, falsely, that their investment skills are equal. That's why you see so many of them starting their own, usually failed, ventures such as restaurants and car dealerships. They've also generally squandered their education and take advice from sleazy individuals who only aim for management fees and not actual profits for their athlete clients.

If you're worth $10 million after taxes, you should be putting that money into a mix of safe, high-capital mutual funds (PIMCO Total Return, for example) and private-equity/v.c. funds. It's amazing how foolish these guys are with their money.

#4 NoSaint

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Posted 07 April 2013 - 06:18 PM

View Postny33, on 07 April 2013 - 05:56 PM, said:

As they are at the pinnacle of their careers, many professional athletes believe, falsely, that their investment skills are equal. That's why you see so many of them starting their own, usually failed, ventures such as restaurants and car dealerships. They've also generally squandered their education and take advice from sleazy individuals who only aim for management fees and not actual profits for their athlete clients.

If you're worth $10 million after taxes, you should be putting that money into a mix of safe, high-capital mutual funds (PIMCO Total Return, for example) and private-equity/v.c. funds. It's amazing how foolish these guys are with their money.

But record labels and unprotected sex with hundreds of women is waaaay more fun than a mutual fund. Priorities man. Priorities.

#5 Meathead

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Posted 07 April 2013 - 06:24 PM

mark brunnell you aint representin wigga

#6 Kkspike

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Posted 07 April 2013 - 06:31 PM

We make a lot of money,but we spend a lot of money.

#7 Kirby Jackson

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Posted 07 April 2013 - 06:31 PM

View PostSteve O, on 07 April 2013 - 01:12 PM, said:

http://www.60maxpowe...crowdignite.com

Surprised about Ismail and Mcallister, not so much for the former Bills

I am good friends with a Saints player that was going to buy Deuce's house for like 25% of what Deuce paid because he needed the $. His car dealerships crushed him.

#8 Joe_the_6_pack

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Posted 07 April 2013 - 06:54 PM

Tiki's a dork, but his new wife (the intern that got him canned from TV) is amazing.

#9 Frez

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Posted 07 April 2013 - 07:01 PM

is it possible some of these clowns filed for bankruptcy to protect some of their assets?

I know Sapp was going to get sued by Jeremy Shockey for something. Just before it happened Sapp filed and went bankrupt.

#10 jaybee

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Posted 07 April 2013 - 07:17 PM

Lets face it fellas.  As much as we love watching these guys on Sundays, they will never be accused of splitting atoms in their spare time.

The football machine rolls on.  Snagging as many dumb-ass athletes as it can push thru the system.  Listened to an interview lately ?  75% of em cant even speak fluid English.

Its a stand-up comic act and I'd imagine there are a whole lot more "challenged"  ex-nfl players that are bankrupt than this list here.

#11 dailar

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Posted 07 April 2013 - 07:19 PM

and ryan leaf wasnt a number one pick.

#12 ExiledInIllinois

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Posted 07 April 2013 - 07:26 PM

View PostFrez, on 07 April 2013 - 07:01 PM, said:

is it possible some of these clowns filed for bankruptcy to protect some of their assets?

You think?  No, never happens!  Like they said: Sapp's Super Bowl ring was lost (wink wink)  ;-) :-P

Corporations are people and people are corporations...??   What is the problem w/the strategy of protecting one's self-interest.  These dudes (and their baby mamas) are probably still living financial lives way above the average slep.  Oh, they are hurting... Just in their own relative sense considering how much they made...  But, they are getting by...

#13 PearlHowardman

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Posted 07 April 2013 - 07:33 PM

I watch television programs about people who win the lottery.  The program always states the fact that within something like five years of a person winning their respective lottery, 1/3 of them are broke.

#14 BuffaloBill

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Posted 07 April 2013 - 07:33 PM

The numbers are staggering.  Most of Jose guys could have lived well on the interest from a passbook savings account ... As pathetic as interest rates and all are.

#15 gjnoronh

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Posted 07 April 2013 - 07:41 PM

For what it's worth there are lots of similar stories from lottery winners.  It's easy to blame dumb athletes but the average American who gets a boat lad of money sudden,y also does a terrible job managing it.

First hit on google "lottery winners years later"

http://www.businessi...ll-2012-11?op=1

#16 jaybee

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Posted 07 April 2013 - 08:00 PM

View Postgjnoronh, on 07 April 2013 - 07:41 PM, said:

For what it's worth there are lots of similar stories from lottery winners.  It's easy to blame dumb athletes but the average American who gets a boat lad of money sudden,y also does a terrible job managing it.

First hit on google "lottery winners years later"

http://www.businessi...ll-2012-11?op=1

Yea OK.  So lottery players are the bar we are comparing to then ?  Gotcha.  10-4.  The lottery was designed for the mathematically challenged.  Dumb asses and lazy people.  Welfare and disability recipients abound.  Faking injuries.  Thats who plays the lottery.  Mostly.

You are right though.  Many people simply do not know how to manage money.  Its an expensive lesson to be learned over ones life and then its too late.

NFL players that go broke after making millions?  Sorry man, go elsewhere for sympathy.  If you're that stupid you deserve to be broke.

#17 ExiledInIllinois

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Posted 07 April 2013 - 08:07 PM

View PostBuffaloBill, on 07 April 2013 - 07:33 PM, said:

The numbers are staggering.  Most of Jose guys could have lived well on the interest from a passbook savings account ... As pathetic as interest rates and all are.

I agree... Yet, whose to say they still aren't living well?  Probably better than most people.  Sure they may have blown way too much... Sure they lost control of what seemed like a sure thing. But, I don't see them in a soup line.  Vick is still playing... Think he is living in a trailer park?

Just saying...

#18 Kellyto83TD

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Posted 07 April 2013 - 08:29 PM

I don't feel for them one bit. Thousands of times, what the normal hard working American makes and we are supposed to feel sorry for them? !@#$ them.  I guess they didnt need that many cars, or houses or bling after all.

#19 ny33

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Posted 07 April 2013 - 08:31 PM

View PostKellyto83TD, on 07 April 2013 - 08:29 PM, said:

I don't feel for them one bit. Thousands of times, what the normal hard working American makes and we are supposed to feel sorry for them? !@#$ them.  I guess they didnt need that many cars, or houses or bling after all.

Actually, many of these guys go broke because they make poor investments. I'm not saying they deserve sympathy, but their bankruptcies are often due to failed businesses/investments/swindles.

#20 Dylanme8

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Posted 07 April 2013 - 09:00 PM

I think this is hilarious. Haha How stupid do you have to be to miss manage that kind of money!  If they want some sympathy maybe I'll throw them a quarter, just make sure they start begging around 4 pm that's about the time I get home from work.