11 Athletes That Went Bankrupt
Whether you love it or hate it, professional athletes are some of the highest paid people in our country. According to USA Today, the average NBA player rakes in an estimated average of $5.15 million per year while the average NFL player cashes in with $1.9 million per year. For those in the MLB, expect an average of $3.2 million annually. With such exorbitant salaries, it’s hard to fathom having any financial problems. Yet, these eleven athletes filed bankruptcy despite high earnings during their professional years.
Despite earning approximately $26 million dollars as a quarterback for seven seasons, Vince Young’s financial life tumbled, and he filed for bankruptcy in January 2014. Outlandish spending and multiple child support payments contributed to his financial ruin. Young allegedly spent $200,000 per month, which included multiple $5000 bills at Cheesecake Factory. Young also reportedly took out a loan to pay for a $300,000 birthday party – for himself.