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Pro Athletes Who Have Lost Millions of Dollars

GOBankingRates Logo By Gabrielle Olya of GOBankingRates | Slide 1 of 26: Professional athletes can make millions of dollars through lucrative contracts — and sometimes billions when you add in endorsement deals — but despite their high paychecks, many end up going broke. According to a 2009 report by Sports Illustrated, 78% of former NFL players have gone bankrupt or are under financial stress within two years of retirement, and within five years of retirement, an estimated 60% of former NBA players are broke. Similar fates have befallen professional baseball, golf and hockey players as well. But where exactly do those millions go? GOBankingRates is breaking down exactly how 25 athletes lost millions of dollars, with some falling from the top of their game to financial rock bottom. Last updated: July 28, 2020

Professional athletes can make millions of dollars through lucrative contracts — and sometimes billions when you add in endorsement deals — but despite their high paychecks, many end up going broke. According to a 2009 report by Sports Illustrated, 78% of former NFL players have gone bankrupt or are under financial stress within two years of retirement, and within five years of retirement, an estimated 60% of former NBA players are broke. Similar fates have befallen professional baseball, golf and hockey players as well.

But where exactly do those millions go? GOBankingRates is breaking down exactly how 25 athletes lost millions of dollars, with some falling from the top of their game to financial rock bottom.

Last updated: July 28, 2020

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