Athletes who went bankrupt! From a soccer legend to an ear-biting boxer
12. Denny McLain
This athlete is a former professional baseball player and pitched for ten seasons in Major League Baseball. He is most well-known for his time with the Detroit Tigers. He often stirred up controversy because he was very outspoken and harshly judged his teammates. In 1970, he went bankrupt despite being the Tigers’ first hundred thousand dollar player; his loss of cash had to do a lot with his gambling addiction. Plus, he owed over four hundred forty thousand dollars to various people, including the FBI, IRS, and the commissioner of baseball. After his baseball days came to an end, he dealt with some other issues as well. He faced a twenty-three-year-long prison sentence for moving illegal substances and extortion. That verdict was thrown out later on, but he ended up serving six years for embezzling money from the meat-packing company he owned with a business partner.
11. Terrell Owens
Owens, aka T.O., is known for the sixteen seasons he played in the NFL. He was initially selected by the San Francisco 49ers and then went to the Philadelphia Eagles, Dallas Cowboys, Buffalo Bills, and Cincinnati Bengals. However, although he reportedly made about eighty million dollars during his career, it didn’t last after some wrong decisions. Owens has talked about his monetary loss, stating, “At that time I got sucked into wanting to be like everybody else, the guys with the Mercedes and all the flashy cars and the jewelry… I think those are some of the most idiotic purchases I think players can do.” In addition to spending money on a lot of things, Owens also lost one hundred fifty thousand dollars to fines after “excessive celebrations” for touchdowns. Plus, his financial advisors reportedly “put him in a series of risky, highly leveraged ventures,” which he didn’t find out about until 2010. In 2012, he told GQ that nearly all of his money was gone.