List Of NFL Players Broke After Retirement

Andre Rison is among the NFL players that went broke after earning millions of dollars during their career. Rison lost nearly $19 million after retiring.

Reckless spending without thinking about the future led to the former NFL star’s bank balance dipping at an alarming rate. Although he was at the receiving end of a heavy paycheck as a player, his life turned out to be much different later on.

Rison admitted in the 30 for 30 series Broke (2012) to blowing at least $1 million on jewelry, more on cars, and nightclubs.

He said that he did not know how to handle all the money that was flowing in. He was spending money at an alarming rate as if there was no tomorrow.

Rison declared bankruptcy in 2007 with child support being one of the major reasons along with his reckless spending.

Warren Sapp earned over $75 million in salaries in thirteen seasons and became a victim of reckless spending leading to being among the bankrupt NFL players.

People dream of earning that kind of money and not everyone can make it. Life becomes so much easier when you have that kind of money in your bank account but only if you spend it wisely.

Sapp did not do so and spent his money on things that he did not need at all. A lion skin rug and 240 pairs of Jordans were some of the items that he spent only to fill his $4.1 million mansion that he had built.

He filed for Chapter 7 bankruptcy in 2012 as had $6.45 million in assets including the mentioned items against his $6.7 million in debt.

Dermontti Dawson filed for Chapter 7 bankruptcy in 2010 after declaring liabilities of roughly $70 million and had only $1.5 million in assets.

The former Pittsburgh Steelers center and long-snapper spent his entire career with the club from 1988-2000. The Round 2 pick was a 7x Pro Bowler throughout his career.

Although Dawson’s career earnings are not unclear, a debt of over $69 million is a huge downfall for any person. He invested millions in real estate with multiple partners.

The housing market spiraled down to the ground back in 2008, when Dawson’s investment took a massive hit. He pumped in a lot of cash in real estate and that was the result of him going broke after his playing days were over.

NFL players broke after losing almost $80 million is Terrell Owens. High-risk investments and uncontrolled spending on houses and condos were the major reasons.

Owens is regarded as one of the greatest WRs of all time having been the NFL receiving touchdowns leader in three seasons (2001, 2002, 206) and is third in both NFL career receiving yards (15,934 yards) and NFL receiving touchdowns (153).

One of the most common reasons for players losing all their hard-earned money is reckless spending on houses and other lavish things. What Owens planned was to buy the expensive condos and houses and then rent them all out if they became too expensive.

It does seem like a reasonable plan but does not always work out. A combined mortgage of $750,000 a month is a huge sum and he too was a victim of the housing market that crashed and as a result, Owens could not find any renters.

A $2 million entertainment complex, high living, and excessive spending on cars and jewelry are other reasons for his massive loss.

The former Saints running back Deuce McAllister earned an estimated $70 million throughout his career from 2001-2009. The Super Bowl champion only took three years to blow all of his money.

In 2009, McAllister’s Nissan dealership failed miserably and filed for bankruptcy protection for the dealership. He owed the Japanese automobile manufacturer around $7 million in addition to $300,000 in interest.

McAllister’s assets were liquidated and some of the debt was paid back to Nissan after a settlement in 2012. However, he still owed the company $1.5 million, and Nissan once again sued McAllister in 2013.

His financial troubles would not leave him as his Louisiana home was also auctioned off for $800,000 as he failed to pay $1.8 million on the property.

Mark Brunell played in the NFL for 19 seasons, most of the years with the Jacksonville Jaguars, and earned an estimated $50 million. Brunell filed for bankruptcy in 2010 after listing $25 million in liabilities.

He had only $5 million in assets against such a huge liability. If we look at Brunell’s case, it was worse than being broke.

The quarterback coach of the Detroit Lions had invested millions from his career earnings to start a company called Champion LLC that would focus on real estate. He lost close to $11 million as the housing market crashed.

Another failed investment that he made was the Whataburger franchises that he established. Brunell lost over $9 million with this business venture and also had other failed businesses.

Lawrence Taylor made a fortune of over $50 million in his 13 seasons that started in 1981 and ended in 1993. He played only for the New York Giants throughout his career.

The two-time Super Bowl champion is considered one of the best ever to play the sport but lost almost all of his money on drugs and women. Taylor would spend up to a thousand dollars a day on drugs and women.

In the latter stages of his career, Taylor started a company called All-Pro Products that went public at $5 a share. As the stock price rocketed, his stake reached an estimated value of $10 million.

However, the company crumbled and he lost a lot of money. In 1998, Taylor filed for bankruptcy as he was falling behind on mortgage payments for his $605,000 home.

His frequent trouble with the law, tax fraud, and reckless spending ultimately led him to become broke and was left without any money.

Luther Elliss filed for bankruptcy in 2010 as a result of bad financial decisions and investments. Elliss had earned over $20 million in the NFL.

The former defensive tackle played in the NFL for 10 seasons with nine of them for the Detroit Lions and his last season came for the Denver Broncos. He earned an estimated $11 million in salaries alone.

Elliss was a generous person and often contributed a lot to charities from his earnings. It includes adopting seven children and has 12 in total. 

He had also invested in business ventures that failed and as a result, lost all of his money and went bankrupt.

Bernie Kosar played in the NFL from 1985 until his retirement after the end of the 1996 season. The Super Bowl winner earned nearly $20 million throughout his career and went completely broke in 2009.

The talented and generational quarterback shared his story in ESPN’s “30 for 30” series Broke about how his father manipulated millions of dollars out of him. His trust and obligation toward his family were one of the reasons he lost so much money.

Kosar lost most of his fortune on failed business ventures such as his steakhouse, unsecured loans, reckless spending, and $15 million due to his divorce.

When he filed for bankruptcy in 2009 due to the 2008-2009 recession, he listed $18.9 in liabilities and had assets worth only $9.2 million.

Clinton Portis is a former running back who played for 9 seasons in the NFL for the Broncos and the Redskins (now Commanders). He began his career in 2002 and last played in 2010.

In his career, Portis earned a staggering $43,101,000 in salaries and officially retired in 2012. With such a huge bank balance, it would be obvious that he had a relatively easy life ahead of him.

That was not the case since he filed for bankruptcy in 2015 as a result of mismanagement by his financial advisors. He went on to lose multiple homes and owed nearly $5 million to several parties combined.

He too could not control his lifestyle and spent lavishly in addition to $150,000 in child support took him to the ground. He also made many bad decisions when it came to investments and lost all of his fortune.

Jeff Rubin and Jinesh Brahmbhatt had convinced Portis to pump in $3.1 million in an Alabama Casino and that was a huge mistake on his end.