NFL

30 NFL Stars Who Lost Everything

Darren - November 6, 2020

NFL

30 NFL Stars Who Lost Everything

Darren - November 6, 2020

11. Charlie Batch

People always think houses are safe investments because you’re pouring your money into a saleable asset. Players will either rent it out and make their money back over time, or flip it for a bigger price. But you’ve got to do your research, understand what a mortgage is, and be aware of the financial picture. In sum, Batch wasn’t. He bought a whole bunch of properties and then the recession came and squeezed him for every dime in his pocket.

A two-time Super Bowl winner with his hometown team, the Pittsburgh Steelers, Batch spent most of his time as a back-up. However, when the financial crisis hit, Batch couldn’t afford to pay his mortgages and lost everything. His debts rose to almost eight million dollars but he only had about $2.3 million in assets. It was a disastrous situation for the quarterback and a warning to all NFL players.

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10. Raghib Ismail

If you know about Ismail’s early professional career, then it will be a surprise to see him on this list. He rejected the NFL draft simply because the Canadian Football League offered him almost $20 million to come and play north of the border. Ismail duly obliged and spent two years with the Toronto Argonauts on the biggest contract in football before moving to the NFL, where he enjoyed 10 seasons.

He left the sport with an obscene amount of wealth but lost it all because of a series of brutal investments. Firstly, there was a religious movie, then there was a music label. He even invested in a custom calligraphy shop chain. We’re not sure why any of these seemed like good ideas but it cost him about five million dollars. When you add in all the taxes and outside expenses, it was even more.

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9. O.J. Simpson

We all know about Simpson’s legal woes. The former NFL star’s landmark murder investigation trial and subsequent armed robbery conviction years later cost him millions of dollars. After initially walked free, Simpson expected to return to his old life. However, he soon discovered that it wasn’t that easy. He became a social pariah and this severely damaged his earning potential.

Furthermore, the judge ordered him to pay over $35 million to the victims’ families of the people that he definitely didn’t murder. While he is technically in the hole for this, he may never actually pay because of Florida. State laws enable him to keep his home from creditors and enjoy his NFL pension as well as social security payments. It could have been much worse for the notorious former star.

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8. Warren Sapp

Most men have three pairs of shoes. But Sapp had literally thousands of shoes in his warehouse-sized closet, with an estimated 2,400 pairs at one point. This should give you a snapshot of the former defensive tackle’s spending habits. He burned through money like it’s about to go out of fashion. Sapp lost a $75 million fortune.

The seven-time Pro Bowler plunged into massive debt and owed almost seven million dollars. Furthermore, NBC fired him after he tried to pick up an illegal prostitute. He lost his house as well as other saleable assets in a significant blow to his lifestyle. But you can’t keep this Super Bowl winner down as a betting agency picked him up as a podcast host in 2020.

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7. Muhsin Muhammad

Credit cards are the downfall of so many people. It can be so easy and tempting to just swipe your card without thinking or checking your balance. When you lose track of the interest it’s like hooking a fish. As much as you try, there’s just no way to get escape. Muhammad suffered from this exact problem. The former Carolina Panthers receiver lost control of his spending in the most drastic manner.

The two-time Pro Bowler and one-time All-Pro selection lasted for 14 seasons in the NFL. Meanwhile, he made a lot of money as one of the best in his position in the league. But his typical spending was out of control. This resulted in Wachovia Bank coming after him. They sued him and Muhammad lost a huge amount of cash. Maybe he should have kept his money under his bed. At least he would have known how much he had left.

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6. Chris McAlister

McAlister went from signing a $55 million contract to living with his parents because he lost all of his money. You almost have to appreciate the sheer frivolity of his ability to spend money. McAlister’s marriage lasted for just three months before the divorce and he also had a child, which didn’t help matters. In the end, he struggled to pay $3000 per month in child benefits.

A Super Bowl champion with the Baltimore Ravens, the former corner played for 11 seasons in the NFL. As we previously stated, he made a fortune but his hard-living ways played havoc with his bank balance. Finally, he depended on his parents to give him an allowance for basic daily living expenses after squandering his massive fortune. It’s a unique and miserable tale.

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5. Bernie Kosar

Kosar was an excellent quarterback for the Cleveland Browns. Furthermore, he won a Super Bowl with the Dallas Cowboys back in the day. The two-time Pro Bowl selection enjoyed a lengthy career and held many records until Tom Brady came along. Furthermore, because of the longevity of his time in the NFL, Kosar made a lot of money. In fact, his millions of dollars in income should have set him up for life.

Unfortunately, Kosar lost almost everything in 2009 when he declared bankruptcy. To sum up, this was like a box-ticking exercise in bad decisions. Firstly, there was a messy divorce that cost him about three million dollars. Then there were some terrible real estate investments and finally, his steakhouse went out of business. In the end, he lost about $15 million and had only about $44 left to his name.

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4. Lawrence Taylor

Many regard Taylor as the greatest defensive player in NFL history, but he definitely wasn’t the most fiscally responsible. If you had a choice between leaving your wallet on the sidewalk and giving it to Taylor to look after, the former would definitely be much safer. A two-time Super Bowl winner with the New York Giants, this linebacker was a force. But his everyday life was very controversial.

Taylor partied hard and went through cocaine like it was sugar. He even claimed that he spent $1,000 per day on drugs alone. That’s not counting his penchant for alcohol or prostitutes. Meanwhile, his company All-Pro Products went bust, while he also served house arrest for tax avoidance. Overall, Taylor’s spending habits and bad investments meant that he lost almost everything.

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3. Terrell Owens

An obnoxious teammate but an excellent player, Owens was a superb wide receiver. Sure, he hated almost every quarterback he lined up beside him but he still made the Hall of Fame after a brilliant career. The six-time Pro Bowler was as flamboyant on the field as he was off it. Meanwhile, he made a massive fortune including an estimated $80 million in salaries from six NFL teams.

However, Owens lost almost all of his massive fortune after living too large. He spent so much money on properties that he ended up paying $750,000 per month on mortgages alone. When the housing market crashed, he couldn’t find renters. Then there was a disastrous entertainment complex in Alabama that was a hammer blow. Owens also made all of the mistakes involving jewelry and fancy cars, but high-risk investments were his biggest problem.

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2. Dermontti Dawson

$70 million. That’s how much Dawson lost in disclosed career earnings. It’s a staggering sum of money, earned from a brilliant NFL career. To be able to lose a fortune that big should almost be admired because the closest most people will come to that amount of money is if they stand outside Fort Knox. However, the seven-time Pro Bowler somehow managed to do exactly that.

When a court declared him bankrupt in 2010, Dawson had debts of over $70 million. But the big problem was that he had less than $1.5 million left in his bank account. Unfortunately, you can’t just pay with a credit card and worry about it later. The housing crash decimated his fortune because the Hall of Famer unwisely put a lot of cash into unsustainable properties. To sum up, it’s the same, sad story.

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1. Michael Vick

Vick’s downfall was one of the most dramatic in sporting history. The former Atlanta Hawks’ superstar changed the quarterback position. However, being brilliant on the field doesn’t necessarily translate to being a great person. After a federal investigation uncovered his dog-fighting ring, Vick served almost two years in prison. Obviously, being in jail doesn’t help you raise the numbers in your bank balance.

Meanwhile, Vick lost all of his major endorsements and had to pay massive legal fees. Furthermore, he had all the mortgages, scandalous purchases, and family support that you come to expect from NFL players. He lost over $130 million before he got out of prison. After leaving jail, he found redemption with a $100 million deal with the Eagles. He cleared most of his debts but was no longer the mega-rich star of old.

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