Yahoo Finance 22 millionaire sports stars who lost it all
Sports stars who played it all away
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For athletes at the top of their game, the sporting industry is a lucrative business. Stars can make a fortune from their profession, as well as millions through the money-spinning endorsement deals that come with the fame.
However, for some unfortunate athletes, bad decisions away from sports can result in financial ruin. Read on to discover how these millionaire sports stars lost it all.
All amounts in US dollars.
Leon Spinks
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The late boxing champ Leon Spinks was one of the few people to beat the great Muhammad Ali in the ring, defeating him in Las Vegas in February 1978. The ageing Ali had anticipated an easy fight but Spinks (pictured here celebrating his iconic victory) boxed his way to the world heavyweight champion title – as well as millions in the bank.
However, the promising young boxer's glory was fleeting, and he fell into a life of debt and drug addiction.
Leon Spinks
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Spinks filed for bankruptcy protection in 1986 from creditors to whom he owed $301,000. That's the equivalent of $863,000 (£680k) in today's money. Spinks claimed that his $4.5 million fortune – $12.9 million (£10.2m) today – had been reduced to a wardrobe worth just $500 and a $1,600 monthly salary.
A far cry from his old life, the former world champion would reportedly go on to work as a cleaner at the YMCA, and also did shifts at his local McDonald's restaurant. He died of prostate cancer in 2021.
Roland "Rollie" Fingers
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Milwaukee Brewers pitcher Roland "Rollie" Fingers had reportedly amassed a cool $1.1 million by the time he retired from baseball in 1985. That’s the equivalent of $3.2 million (£2.5m) in today’s money.
However, the baseball Hall of Fame legend found himself filing for bankruptcy just four years later, with creditors claiming he owed more than $4 million, which is $10.1 million (£7.9m) today.
Roland "Rollie" Fingers
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His undoing? A slew of bad investments, which included pistachio farms, wind turbines, and even a herd of Arabian horses. Fingers paid off his debts by returning to work and selling baseball cards, and the bank also seized his horses to help pay his dues.
He found himself in financial trouble again in 2007 when he was involved in a tax scandal, although he fought to prove his innocence and the investigation was eventually dropped.
Johnny Unitas
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One of the great American football players of all time, the late Johnny "The Golden Arm" Unitas, led the Baltimore Colts to Super Bowl stardom. The legendary quarterback also earned the title of the NFL's Most Valuable Player (MVP) three times between 1959 and 1967.
Despite his brilliance on the football field, however, Unitas was decidedly less successful with his finances.
Johnny Unitas
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Upon his retirement in 1974, Unitas failed to convert his prowess on the pitch into business acumen. He faced financial ruin after a run of unsuccessful ventures, which included purchasing a string of bowling alleys as well as a print circuit board company.
Unitas had debts of $3.2 million, which is the equivalent of $7.4 million (£5.8m) in today's money. He and his wife Sandra filed for protection under Chapter 11 bankruptcy in 1991. Unitas died in 2002.
Dorothy Hamill
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Dorothy Hamill took the figure skating world by storm in 1976, winning a gold medal at the Winter Olympics as well as becoming the World Champion in ladies’ singles, all in the same year. Her athletic achievements, coupled with her down-to-earth persona, earned her the title of "America’s Sweetheart".
As a result, the nation was shocked when the figure skater filed for bankruptcy in 1996, 20 years after the iconic Olympic performance that first catapulted her to fame and fortune.
Dorothy Hamill
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Court papers revealed that, despite having assets totalling $1.3 million, Hamill was $1.6 million in debt, the equivalent of $3.2 million (£2.5m) today. The Olympian blamed her financial misfortune on bad business advice from her estranged husband, although anonymous sources close to Hamill revealed she'd always had a penchant for extravagant spending.
Fortunately, she turned things around, and today she reportedly has a fortune of $5 million (£3.9m).
OJ Simpson
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OJ Simpson rose to prominence as an American football star in the 1970s, although his name is now more synonymous with one of the most gripping criminal cases of the 20th century. Thanks to his ability on the pitch and various endorsement deals, Simpson had a cool $11 million in the bank by the early 1990s, the equivalent of $26 million (£20.5m) in today’s money.
Despite his name being globally recognised, Simpson's fortune was reduced to nothing after he was charged with the 1994 murders of his ex-wife Nicole Brown Simpson, and her friend Ron Goldman.
OJ Simpson
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Simpson (pictured here in court) was controversially acquitted of the crime, although most of his fortune was ravaged by legal expenses. His financial woes worsened in 1997 when he was found guilty of the murders in a civil trial and ordered to pay $33.5 million in damages to the victims' families, the equivalent of $65.5 million (£51.7m) today.
Simpson subsequently turned to crime in the hopes of regaining his former fortune. In 2008, he was sentenced to 33 years in prison after being found guilty of armed robbery and kidnapping. He was freed from prison in 2017 and died in April of this year.
Mike Tyson
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One of the greatest boxers of all time, Mike Tyson is estimated to have made an astonishing $430 million from fights and endorsement deals, around $700 million (£552m) in today's money. Dubbed "The Baddest Man on the Planet" for his skills in the boxing ring, Tyson was also notoriously bad with money.
He squandered much of his fortune on a string of extravagant and bizarre purchases, such as a 24-carat gold bathtub that cost a whopping $2.2 million ($6m/£4.7m today) and a trio of white Bengal tigers, which reportedly cost $70,000 each ($154k/£122k today).
Mike Tyson
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Tyson's lavish lifestyle, coupled with drug addiction and time spent behind bars, led to him filing for bankruptcy in 2003. The heavyweight champion claimed he was an eye-watering $23 million in debt, which is $39.3 million (£31m) in today's money.
After spending time in rehab, Tyson changed his life for the better and started to rebuild his wealth. His net worth is currently reported to be $10 million (£7.9m).
Sheryl Swoopes
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While basketball is primarily a male-dominated sport, there have been numerous female athletes who've made a fortune on the court. Sheryl Swoopes is a prime example. The WNBA player banked a whopping $50 million (£39.5m) throughout her career, with highlights including four WNBA Championship wins, three MVP titles, and three Olympic gold medals.
Swoopes was also the first woman to have her own signature athletic shoe: the Nike Air Swoopes.
Sheryl Swoopes
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Swoopes' empire imploded in 2004 when she declared Chapter 13 bankruptcy due to a combination of poor investments and bad money management.
As a result, the superstar was forced to sell most of her trophies and Olympic gold medals to get out of the red. Swoopes continued to play basketball until 2011, but despite this, her net worth today is reported to be just $300,000 (£237k).
Darren McCarty
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While hockey players typically earn less than athletes in the NFL or NBA, ice enforcer Darren McCarty amassed a cool $15 million (£11.8m) in his prime. McCarty rose to prominence after joining the Detroit Red Wings in 1992, winning four Stanley Cups while playing for the prestigious team as well as acquiring a reputation as one of hockey's greatest players.
Unfortunately, McCarty liked to play as hard off the ice as he did on it, and he found himself in the red due to gambling debts, addiction issues, and several failed business ventures.
Darren McCarty
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By 2006, McCarty was playing for the Calgary Flames on a lower-paying contract than he was accustomed to. He declared himself bankrupt, listing debts of $6.2 million, the equivalent of $9.7 million (£7.7m) in 2024 money.
Today, McCarty, who now owns his own medical cannabis brand, has a net worth of just $500,000 (£395k).
Marion Jones
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Marion Jones is a woman who had it all – and then lost it. Following her victory at the 2000 Sydney Olympics, where she won three gold medals and two bronze, the track and field athlete boasted to The New York Times that she was set for life.
Top brands such as Nike were desperate to partner with the sporting starlet, and she even appeared on the cover of Vogue alongside the headline "The new American hero".
Marion Jones
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From hero to zero, it all came crashing down for Jones in 2004 when her trainer, Victor Conte, claimed he had given Jones performance-enhancing drugs before her Olympic win. Her ex-husband also said he’d seen her using steroids.
Jones initially denied the accusations but came clean three years later. As a result, she lost lucrative deals and her Olympic medals. She also had to repay some of the awards she’d earned and lost her $2.5 million (£1.8m) North Carolina mansion, as well as the house she purchased for her mother. She declared bankruptcy in 2007 with assets of just $2,000 (£1.6k). To make matters worse, her drug use also landed her a six-month prison stint.
Andre Rison
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Though Andre Rison’s NFL journey began in 1989, the wide receiver’s career truly began to skyrocket in 1995 when he signed a hefty $17 million contract with the Cleveland Browns. That’s $35 million (£27.6m) in today's money. Brand deals swiftly followed, and a young Rison was soon rolling in cash beyond his wildest dreams.
However, he liked to party hard and spend his money even harder. By the time he retired from sports in 2007, he had declared bankruptcy due to his inability to pay child support.
Andre Rison
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Rison blamed his downfall on the elite sporting world's competitive culture. The sports star was constantly trying to outdo his teammates' extravagant purchases, admitting to ESPN in 2012 that, at the height of his career, he had spent at least $1 million on jewellery alone, the equivalent of $1.8 million (£1.4m) in today's money.
Rison now lives a considerably more modest lifestyle, with a reported net worth of $250,000 (£197k).
Michael Vick
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Can you imagine what it feels like to lose over $100 million? Former NFL superstar Michael Vick knows that unique pain. The quarterback signed a then-record-breaking contract worth $130 million with the Atlanta Falcons back in 2004 – that's a stunning $216 million (£170m) in today's money.
Vick's skills on the football field, coupled with lucrative endorsement deals from brands including Nike and Coca-Cola, saw him named the second-highest-earning athlete in America in 2006. He banked an incredible $25.4 million per year, or $39.6 million (£31.2m) in today's money. Vick truly had it all – until he lost it all.
Michael Vick
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Vick's multimillion-dollar contract was swiftly terminated when he was convicted of running an illegal dog fighting ring in 2007 and jailed for almost two years for the crime. Vick was left destitute, and he filed for Chapter 11 bankruptcy protection in 2008 with debts of around $18 million, the equivalent of $26.3 million (£20.8m) in today's money.
Despite an NFL comeback effort, few teams wanted to sign Vick due to his troubled past. He finished paying off his debts in 2017. Vick has since seen the error of his unlawful ways, admitting that he felt he "deserved" to lose his enviable finances.
Lenny Dykstra
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During his 11-year career with the New York Mets and the Philadelphia Phillies, baseball star Lenny Dykstra amassed a fortune of $58 million, which is around $84.6 million (£66.8m) in today's money.
However, money can't buy you happiness, as Dykstra's behaviour after his 1998 retirement shows. The three-time All-Star player became addicted to drugs and was imprisoned several times on charges of grand theft auto, drug possession, and indecent exposure.
Lenny Dykstra
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The troubled centre-fielder lost his fortune as well as his freedom, and in 2009 he filed for Chapter 11 bankruptcy. Dykstra was reportedly in debt to the tune of $31 million, which is $45.4 million (£35.8m) in today's money.
He had just $50,000to his name and was forced to sell all of his possessions. His house was foreclosed on, his reputation was ruined, and he never recovered his losses.
Diego Maradona
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Even if you’re not a sports fan, you've most likely heard of Diego Maradona. Widely considered to be one of the greatest football players of all time, the soccer icon represented his home country Argentina in four World Cups, leading his nation to victory in the 1986 edition of the tournament.
It goes without saying that the star midfielder amassed a multimillion-dollar fortune from his superior soccer skills. However, Maradona wasn't a fan of paying his dues, an own-goal decision that would drastically decrease his bank balance...
Diego Maradona
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When the Italian tax authorities came knocking in 2009, it was discovered that Maradona owed an eye-watering $54 million in back taxes, the equivalent of $79 million (£62.3m) in today’s money. As a result, Maradona declared bankruptcy.
At the time of the sporting hero's death in 2020, he reportedly had only $99,000 (£78k) left in the bank.
Antoine Walker
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Antoine Walker slam-dunked his way to fame and fortune, becoming an NBA champion with the Miami Heat in 2005. In fact, his skills on the court earned him an enviable $108 million bank balance during his 16-year career, the equivalent of $157 million (£124m) in 2024 money.
But unfortunately for Walker, he took the adage "work hard, play hard" too literally, and eventually found himself broke.
Antoine Walker
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A string of lavish purchases, including numerous multimillion-dollar homes and a fleet of luxury cars, coupled with gambling debts and an ugly separation, saw Walker file for Chapter 7 bankruptcy protection in 2010.
Walker also found himself in legal trouble when he was arrested for writing over $1 million (£789k) in bounced cheques to Las Vegas casinos. Today, Walker has a reported net worth of just $250,000 (£197k), a drop in the ocean compared to his previous wealth.
Tiki Barber
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NFL star Tiki Barber had earned upwards of $25 million, which is $39 million (£30.8m) in today's money, by the time he retired from the New York Giants in 2006. While some athletes struggle to supplement their income after retiring, Barber was hired by NBC, with regular slots on everything from the Today show to Sunday Night Football. He also worked as a commentator for the 2008 Summer Olympics and 2010 Winter Olympics.
However, everything began to fall apart in April 2010, when it was revealed that Barber had been having an affair with Traci Lynn Johnson, a 23-year-old intern at NBC.
Tiki Barber
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A few weeks later, NBC fired Barber, reportedly owing to a contractual morality clause. After Virginia "Ginny" Cha, Barber's wife of 13 years, filed for divorce in 2010 the sports star had difficulties paying the settlement and child support, and declared bankruptcy. Barber attempted to return to the NFL to recover his wealth, but no teams were interested in signing him.
Fast-forward to 2024, however, and Barber seems to have escaped the situation relatively unscathed. He married Johnson and has recovered much of his former fortune as the host of CBS Sports Radio, as well as via various business ventures. Barber is now reportedly worth around $16 million (£12.6m).
Mark Brunell
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During his 18-year NFL journey, Mark Brunell played for five teams, including the prestigious New York Jets and the New Orleans Saints. With the latter, he was part of the team that secured the Saints' first-ever Super Bowl championship victory in February 2010.
It's little surprise then that the star quarterback's glittering career banked him a whopping $50 million, the equivalent of $68.4 million (£54m) today.
Mark Brunell
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Brunell's athletic performance should have set him up for a comfortable retirement. A year before leaving the NFL, however, he went bust due to a slew of disastrous investments, including nine Whataburger franchises, five of which flopped. Brunell declared bankruptcy in the summer of 2011, with debts of $24.8 million ($34.6m/£27.3m in today's money).
Brunell wisely decided to turn his back on business and instead returned to sports as the quarterback coach for the Detroit Lions in 2021. His net worth is reportedly around $400,000 (£316k) today.
Dennis Rodman
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According to Forbes, Dennis Rodman had a net worth of $29 million in 1998, the equivalent of $55.9 million (£44.1m) in today's money. The former Chicago Bulls star banked a cool $9 million ($17.6m/£13.9m today) alone during the 1997 season.
With that in mind, it’s almost unfathomable to imagine how Rodman could have struggled to make ends meet after his retirement from basketball.
Dennis Rodman
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In 2012, Rodman swapped the basketball court for the law court. He owed $809,000 in child support payments, which amounts to $1.1 million (£868k) in today’s money. The sports star claimed he was broke, sick, and unable to pay.
In a bid to restore his fortune, he's tried his hand at acting and wrestling and has also appeared on several reality TV shows. His net worth today is reportedly just $500,000 (£395k).
Warren Sapp
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Warren Sapp’s 13-season American football career was stacked with highlights, including a Super Bowl victory with the Tampa Bay Buccaneers in 2002. It’s hardly surprising that the legendary defensive tackle garnered a fortune of $75 million throughout his NFL tenure, the equivalent of around $113 million (£89.2m) in 2024 money.
However, what's most astonishing is that he filed for Chapter 7 bankruptcy in 2012, just five years after his retirement. He reportedly had just $826.04 in the bank at the time.
Warren Sapp
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Sapp owed money to everyone, including the IRS, his ex-wife, lawyers, and even his friends. Ironically, while it was his expensive tastes that buried him in a pit of financial despair, it was these lucrative assets that ultimately helped to haul him out of the hole.
Sapp was forced to auction off everything he owned, including his basketball shoe collection. While he's no longer in the red, his net worth is estimated to be just $500,000 (£395k) today, a fraction of its previous size.
Terrell Owens
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Terrell Owens played in the NFL for an impressive 16 seasons between 1996 and 2012. During the wide receiver's enviable career, he earned around $80 million ($109m/£86m in today's money) playing for teams such as the Philadelphia Eagles, Dallas Cowboys, and Buffalo Bills.
However, despite his jaw-dropping earnings, Owens lost it all by the time he retired in 2012.
Terrell Owens
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A slew of bad investments, coupled with the collapse of the property market, caused Owens to declare bankruptcy in 2012. He reportedly faced debts of $400,000, which is $547,000 (£432k) in today’s money.
Owens never restored his fortune and, according to reports, is worth just $500,000 (£395k) today.
Vince Young
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Vince Young was once the star quarterback of the Tennessee Titans, receiving one of the highest-paid rookie contracts in NFL history in 2006 for $26 million, the equivalent of $40.5 million (£32m) in today’s money – plus there were the countless lucrative endorsement opportunities that came his way.
Sadly, Young is yet another unfortunate athlete who played his fortune away...
Vince Young
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Young filed for Chapter 11 bankruptcy in 2014, with his former financial adviser Ronnie Peoples claiming that he was spending money faster than he was making it. Young would extravagantly splash the cash on a regular basis, and reportedly once spent $5,000 at the Cheesecake Factory in just a week.
His bankruptcy filing showed that he and his wife faced debts of around $10 million, or $13.3 million (£10.5m) in 2024 money.
Bradley Wiggins
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Widely considered to be one of Britain’s greatest Olympians, Sir Bradley Wiggins had the world at his feet after picking up a sensational gold in the men’s time trial at the 2012 Olympics in London. He became the first Briton to win the Tour de France in the same year.
In total, the cyclist picked up eight Olympic medals during his career. In 2017, he boasted an estimated net worth of £13 million, the equivalent of £16.8 million ($21.3m) in today’s money.
Sir Bradley Wiggins
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However, after several years of ongoing financial difficulties stemming from his post-career business ventures, the star was reportedly declared bankrupt in June 2024. He now faces having to sell his gold medals and, according to his lawyer, has “lost absolutely everything”.
The star’s UK property worth £975,000 ($1.2m) has reportedly been repossessed and his lawyer claims he’s been reduced to “sofa-surfing”.
Boris Becker
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Boris Becker – the tennis star-turned-TV pundit – was a sporting sensation in the 1980s and 90s. The former world number one started his career as a teen and went on to win 49 singles titles and six Grand Slams, as well as an Olympic gold medal.
The German sports star unsurprisingly amassed an astonishing $130 million during his professional career, a staggering $275 million (£217m) in today's money. Despite his presumed riches, Becker declared bankruptcy in 2017
Boris Becker
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Becker’s money woes began back in 2001 when it was revealed he owed $7 million in back taxes in his native Germany, which is $12.4 million (£9.8m) in today's money. That same year, a divorce also cost him at least $10 million, or $17.7 million (£14m) today.
While no final amount was released, Becker's debt was described by a bankruptcy court registrar as "substantial", with reports suggesting the figure could be as high as $63.4 million (£50m). In 2022, Becker was jailed for hiding assets to avoid paying debts. In May of this year, his bankruptcy officially ended after a UK judge found the star had done "all that he reasonably could do" to fulfil his financial obligations.
Now discover the bankrupt billionaires who lost it all
