NFL Players Broke After Retirement

NFL stars who went broke after getting suspended or retired are Bernie Kosar, Andre Rison, Ray Rice, and Lawrence Taylor among others.

Currently, the National Football League stands as the biggest sports league in the world. They made a profit of $17.19 billion in 2021.

Simultaneously, even the salaries of the athletes escalated rapidly. During the 1970s, it stood between $20,000 to $60,000.

As of 2023, the highest-paid athlete in NFL is Lamar Jackson with a contract of $260 million. The sportsmen earn millions in a short period of time.

Moreover, it is believed that more than 50% of League players come from impoverished homes. Their immediate success feels like a dream, and most of them do not know where to invest their wealth, and how to use it.

According to Sports Illustrated, around 80% of NFL players become bankrupt within the first three years of their retirement.

Here is a list of 20 players who went impecunious even after earning millions of money:

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Terrell Owens is broke because he was cut from the Cincinnati Bengals in 2010. The $2 million contract was not renewed making Owens unemployed and bankrupt.

As written in an article published in GQ magazine in 2012, the 49-year-old was not recruited by any football franchise. This resulted in him going penniless.

The wide receiver of the NFL was drafted in the third round in 1996 by the San Francisco 49ers. After playing there for around 7 years, he joined Philadelphia Eagles, Dallas Cowboys, Buffalo Bills, and the Bengals.

During Terrell's tenure, he was selected for the Pro Bowl 6 times. 3 times he became the NFL receiving touchdowns leader. He is also one of the all-time scoring leaders.

Owens played shortly for Texas Revolution, an indoor football team in 2012. For almost a decade, he remained inactive in the American football league.

Then in 2022, he started serving for The FCF Zappers and continues to do so. In his NFL career, Terrell accumulated wealth worth $80 million.

Is Terrell Owens Really Broke?

Yes, Terrell Owens is really broke. Terrell Owens net worth stands at $500 thousand as of 2023 according to Wealthy Gorilla.

He may have earned millions, but all of his assets were lost owing to poor investments, and ill decisions which includes investing in the Alabama entertainment complex.

Furthermore, the former pro footballer, the father of 4, had to pay for child support which cost him $44,600 monthly. Due to his weak financial condition, he had to sell his real estate worth $3.9 million.

Vince Young is broke and in debt since 2014. That year in January Vince Young filed for Chapter 11 bankruptcy protection per Sports Illustrated.

He graduated from Texas College in 2005, and the next year, the promising collegiate athlete commenced his professional journey. Moreover, Young was selected in the first round as the third pick in the 2006 NFL draft by the Tennessee Titans.

After serving the Titans for 4 years, the 6 feet 5 inches frame pro joined Philadelphia Eagles in 2011, which became his last squad.

The 2006 NFL Offensive Rookie of the Year played for 6 seasons in the coveted league. Despite having a bright future, some of his bad decisions led him to retire early as a player.

How Did Vince Young Go Broke?

Young went broke because of his erratic ways of spending money. Based on the report by Yahoo, he splurged $5000 weekly at The Cheesecake Factory.

Vince had earned $25 million after his contract with the Titans. and his net worth stood at $35 million. Nevertheless, his inability to spend money wisely cost him a fortune.

Meanwhile, he was entangled in league issues, lawsuits, controversies, and several financial problems, which contributed to depleting his income.

JaMarcus Russell is broke since he got released by Oakland Raiders in 2010. JaMarcus Russell was the first pick in the first round of the 2007 NFL Draft.

Despite being selected by the Raiders in the first round of the draft, he was unable to perform as per the expectation. In 2010, JaMarcus was released by the team, and he never came back to play in the league.

That was the start of his downfall, both professionally and personally. Currently, the 37-year-old is busy coaching at a High School.

JaMarcus filed for bankruptcy in 2012. As of 2021, his total revenue corresponded to $5 million per Sportskeeda.

The former quarterback had an opportunity to become the greatest player of all time. As the first overall pick, he had signed a contract worth $61 million.

Due to his underperformance, JaMarcus lost this incredible deal, earning only $38 million for the 3 seasons that he played for the Raiders.

During his early 20s, Russell suddenly garnered fame as well as money. He was incapable of directing his newfound success to the right path, leading him to go bankrupt at the initial stage of his career.

Also, his problem with substance abuse also impacted his poor choices. No matter what, JaMarcus is a humanitarian by heart who works through Jamarcus Russell Foundation.

Bankrupt NFL players include the former running back of the New York Giants named Tiki Barber. Tiki Barber took retirement from NFL in 2006 to be a broadcaster.

However, things did not pan out well for him. In 2010, he had to leave his TV career as NBC TV Network did not renew his contract which was approximately $300,000 yearly.

In the 1997 NFL Draft, Tiki was recruited by the New York Giants in the third round. During his short-lived football journey, he earned 3 Pro Bowls, the New York Giants Ring of Honor, and the First Team All-Pro.

In 2011, he was inducted into the Virginia Sports Hall of Fame. Despite being at the peak of his career, he exited the league which promised to pay him $25.5 million.

Barber went penurious after NBC fired him because he had an extramarital affair with a young girl whilst his wife was pregnant.

Not only that, his overall demeanor was not loved by many. From disrespecting star players as a TV correspondent to interviewing them terribly, he was not doing a great job.

Even as an athlete in National Football League, Tiki was disrespectful towards the head coach of his team. All these things somehow became the cause of his failure which eventually led him to bankruptcy.

NFL players who are broke after retiring from the NFL consist of Andre Rison. Andre Rison used to play in the league from 1989 to 2005.

In 1989, he got drafted in the first round as the 22nd overall pick by Indianapolis Colts. Later, he went on to join many other teams including Atlanta Falcons, Cleveland Browns, Green Bay Packers, and Oakland Raiders among many others.

Rison gained his only Super Bowl victory in the 1997 season. In 1993, he received the title of NFL receiving touchdowns co-leader.

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Per the '30 for 30: broke' documentary released in 2012, Andre is as poor as a church mouse. The former wide receiver has confessed conspicuously about the dark truths of retired athletes in the film per IMDB.

Rison signed a contract worth $1,175,000 in 1989 with the Colts. He did not hesitate and accepted that he spent extravagantly on jewelry and cars.

Sudden exposure to fame got the best of him. The five times Pro Bowl athlete has faced many lawsuits and legal woes. Andre had to pay around $105,000 for child support alone.

Currently, his net worth stands at $250,000 per Clutchpoints.

NFL players that are broke include the former wide receiver of the Dallas Cowboys called Raghib Ismail. Raghib is a 5 feet 11 inches tall Notre Dame alumni.

He was drafted in the fourth round of the Canadian Football League (CFL) with a signing amount of $18.2 million. As his first squad, Raghib served for Toronto Argonauts, the Canadian Football team.

In 1993, he joined Los Angeles Raiders. Subsequently, he played for Carolina Panthers. In the end, he played for the Cowboys after signing a deal that stood at $21 million.

How Did Raghib Ismail Go Bankrupt?

Raghib, also called Rocket went bankrupt because of his poor investment choices. He put his $300,000 worth of money into a restaurant that turned out to be a failure.

Furthermore, he invested in other unsuccessful businesses like prepaid phone dispensers, souvenir calligraphy, and mouthguard.

None of these businesses aided Ismail financially, causing him to go penniless. Nevertheless, he never filed for bankruptcy per Yahoo.

NFL players that went broke include Johnny Unitas among others. Johnny Unitas and his partner filed for bankruptcy in February 1991.

He was one of the greatest quarterbacks of the National Football League who got recruited in 1995. The 3 times NFL champion and Most Valuable Player had gained passing yards of 40,239 and 290 touchdowns.

Johnny's contribution to Gridiron football is unmatched. He became the 1971 Super Bowl champion while playing for Baltimore Colts. He is one of the players with the most interception in his career.

Johnny Unitas went penurious owing to bad investments in real estate, a prime-rib restaurant, and an air freight company.

Well, he did not lose hope and again tried his hands at circuit board manufacturing as mentioned by Bleacher Report. Unfortunately, it was another big failure that hampered Unitas.

Sadly, Unitas passed away in 2002, but his legal conflict carried on for a few more years.

20 NFL players that went broke comprises retired quarterback Mark Brunell. Mark Brunell filed for bankruptcy in June 2010 as his career was coming to an end.

He was picked in the 1993 NFL Draft by Green Bay Packers. After a year-long collaboration with the Packers, Brunell was briefly associated with 4 other teams:

• Jacksonville Jaguars
• Washington Redskins
• New Orleans Saints
• New York Jets

Jaguars paid him around $14.3 million in the early 2000s. While playing for the Jets from 2010 to 2011, he was given $1.5 million initially.

Mark became strapped for cash because of his poor financial decisions. He invested a large sum of his money in real estate, but the market collapsed incurring huge losses.

When he filed for bankruptcy, it was mentioned that his debts corresponded to $24.7 million while his assets were worth $5.5 million only.

The cause of his enormous debt is the loan he had taken for his businesses that turned out to be a disaster. Since 2021, he has been serving as a coach for the Detroit Lions.

Although he was one of the highest-paid players of the Jacksonville Jaguars one time, he is included in the list of busted football players.

Chris McAlister has been broke since 2009. Chris appealed to the court to lower his $11,000 per month child support obligation citing his bankruptcy in 2011.

The decade-long football journey earned him not only fame but millions of assets. In 2004, he was in his prime and garnered a $55 million deal as well.

The professional football player has been associated with NFL since 1999 after getting selected in the first round of the drafting process.

He studied at Arizona College and played for Baltimore Ravens and New Orleans Saints from 1999 to 2008 and 2008 respectively.

The cornerback and his team emerged victorious in Super Bowl XXXV. Also, he earned a trip to the Pro Bowl three times. McAlister retired from the American Football League in February 2009.

The former cornerback is so poor that he lives with his parents according to TMZ. After his retirement, he became jobless, which further added to his financial woes.

The 45-year-old failed to capitalize on tremendous earnings from his football career. Around 2011, the news of his inability to take care of his basic expenses circulated in the media.

However, there is not much information regarding his whereabouts at the present time. Recently, McAlister was spotted at Pac-12 Network along with his previous team members.

Bernie Kosar officially became broke in 2008. In this year Bernie Kosar was compelled to file for bankruptcy on account of his financial stress.

Born on 25 November 1963 in Youngstown, Ohio, Super Bowl champion competed in the NFL since 1985 after getting picked by the Cleveland Browns.

In the year 1993, he signed a deal with the Dallas Cowboys. The following year Kosar joined Miami Dolphins and continued to serve them until 1996.

Kosar went penniless as a consequence of frivolous spending, and unprofitable transactions in the business. In the meantime, even his father named Bernie Kosar Sr. is responsible for his economic instability.

Kosar Sr. used to haphazardly use his son's money which led the wealthiest athlete to a low-income person. Like Andre Rison, he has been featured on ESPN's documentary movie '30 for 30: Broke'.

These days, the ex-QB is busy marketing sports betting, which was also the reason behind his exit from the Browns radio program.

Luther Elliss became broke in 2009 as a result of his extreme generosity and kindness. Luther played for Detroit Lions in the position of defensive tackle.

One of the reasons behind Luther's economic downfall is his squandering habits, although he was far from someone who spent in drugs.

Another major reason for his unfavorable circumstance is his big heart. Well, one needs to cut his coat according to his cloth, but he did not abide by this century-old phrase.

He joined one of the world's richest leagues in 1995. Until 2004, Elliss gave a spectacular performance in the field. His last team was Denver Broncos.

Luther's total revenue from his football career stands at $11 million. 5 years after his retirement from the American Football League, Luther declared bankruptcy.

He and his spouse had already welcomed 5 biological children. But he went on to adopt 7 more kids. To raise and give quality lifestyle and education to your children is no joke. Elliss somehow failed in foreseeing the future and making wise decisions.

No matter what, the two times Pro Bowl winner is an optimistic man who is teaching his learnings to the current football stars. Luther serves as a coach for Utah since 2022. From 2017 to 2021, he was employed as a coach at Idaho.

Ray Rice is broke since 2014. Ray Rice was released by his team Baltimore Ravens and suspended by the National Football League that year.

A rising star footballer's career suddenly came to a halt. After being selected in the 2008 NFL draft, Ray continuously showcased his talent on the field.

The 5 feet 8 inches tall running back of Baltimore Ravens went on to help his team to win Super Bowl XLVII. In 2009, 2011, and 2012, he earned trips to Pro Bowl.

During his 5 year-long journeys in the American League, he scored rushing yards of 6180 with a rushing average of 4.3.

Rice went penurious after losing his contract with the Ravens. A video of him hitting his then-fiance circulated everywhere, which ultimately became the reason why the RB was suspended by the coveted League.

Unfortunately, this incident not only cost him his job but Ray was dragged into the lawsuit, which drained his millions of wealth. In this way, an exceptional running back went bankrupt, and the American gridiron lost a gifted player.

Dick Lane went broke after he retired in the latter months of 1992 because of his frivolous spending on alcohol, drugs, and unsuccessful investments.

He suffered from long-term diseases like diabetes and high blood pressure, which worsened his health and overall well-being. Lane had an amazing career in the NFL that lasted from 1952 to 1965.

Predominantly known as the Night Train by all his ardent fans and football fanatics, Dick commenced his career by taking in the position of a cornerback for the Rams.

The next year, he joined Chicago Cardinals and remained in the squad till 1959. From 1960 to 1965, Lane was part of the Detroit Lions.

He received many awards, accolades, and achievements including NFL interceptions leader, Arizona Cardinals Ring of Honor, 7 Pro Bowls, and became First team All-Pro 7 times.

Dick was paid only $200 monthly by the League, despite his outstanding contributions to football. Coming from a damaged family, he did not have a normal childhood.

Football became his way out of poverty, but some bad decisions ruined all his riches. Lane passed away on the 29th of January 2002 at the age of 73.

Travis Henry went broke after he got released by the football league in 2008. The reason behind it was his involvement with drugs.

The former running back of the Buffalo Bills joined the League in 2001 and continued to play with this squad till 2004. Then, he joined Tennessee Titans in 2005.

After that, Henry became a part of the Denver Broncos in 2007. Their collaboration did not last long, and the Broncos cut him out in the June of 2008.

In his 7 seasons long play in the NFL, Travis gained a rushing yard of 6086 with 1488 attempts. Before that, he used to perform as a college athlete for the University of Tennessee.

Travis became poor as millions of his money were spent while paying the fees, fines, and penalties in the drug case.

In September of 2008, Travis was found taking part in the transactions of kgs of cocaine, which also put him in prison. He stayed in prison for 2 years and successfully completed a drug program.

Although he was reinstated by the league in 2012, he never took part in any games conducted by it.

Michael Vick went broke after his career came to a halt due to his alleged involvement in a dog fighting ring. Michael Vick filed for bankruptcy in July 2008.

He was a quarterback for Atlanta Falcons from 2001 to 2008. Then, he went on to play for Philadelphia Eagles, New York Jets, and Pittsburgh Steelers in 2009, 2014, and 2015 respectively.

Vick made NFL records with Yards per carry of 7.0 and career rushing yards by a quarterback which stands at 6109. He won 4 Pro Bowls as well as the NFL Comeback Player of the Year in 2010.

Vick actually became penurious in the late 2000s but today he has cleared all his debts per Bleacher Report. Due to the above-mentioned dog-fighting scandal, Michael owed $17.8 million to the creditors.

For a brief period of time, he had to lead a jail life. Losing the $130 million dollar contract with NFL turned out to be the biggest downfall of his career.

Nonetheless, around 2010, Vick again made a deal worth $100 with the football franchise and paid off all his charges before 2015.

Today, he is working as a sports analyst at the FOX network, and his net worth is approximately $16 million. In a nutshell, Michael rose from the ashes despite the setback and leads a happy life along with his family.

Dan Marino became broke as the company Digital Domain Media Group suffered millions of losses. Marino lost nearly $13 million due to the breakdown of the firm.

He was one of the best QBs in the history of the National Football League who served for the Miami Dolphins from 1983 to 1999. The 61-year-old amassed a wealth of $51,510,000 during his tenure with the Dolphins.

In Dan's 17 years of professional journey with the Miami Dolphins, he broke many records. He became the NFL Most Valuable Player and NFL Offensive Player of the Year in 1984.

Marino became poor as a consequence of a bad investment in the business. When he saw the hologram of legendary rapper Tupac Shakur at the Coachella music festival, he could not help himself but invest in the Digital Domain.

Dan owned a large percentage of the share of the visual company mentioned above. Failure of the firm eventually became his loss as well.

Well, more than a decade has passed since this event happened. Today, he is employed as a Special Advisor for the Dolphins although he also worked as an analyst at CBS for a large period of time.

Marino's annual revenue has skyrocketed to $50 million as of May 2023.

Lawrence Taylor officially became broke in 1998 after filing for Chapter 7 bankruptcy. Lawrence Taylor is a retired outside linebacker of the New York Giants.

He was inducted into the Pro Football Hall of Fame the next year in 1999. His incredible football career commenced in 1981 after getting drafted in the first round as the 2nd overall pick.

Before that, Lawrence used to play as a collegiate athlete for the University of North Carolina as a leader. Emerging as a Super Bowl champion two times are the major highlight of his football career.

Prior to that in 1986, Taylor was named as the NFL Most Valuable Player. NFL Defensive Rookie of the Year lived up to the hype of his talent.

Lawrence became penniless as a result of squandering money on drugs like cocaine and parties. He also committed tax fraud and went to jail three times.

In 2010, he was accused of assaulting a teenage girl. All these things hampered his image and questioned his morality. Taylor's illustrious football career ended in 1993.

Despite these controversies and mishaps, he did not lose hope. Starting from 1998, he lived a drug free life.

Warren Sapp was completely broke around 2012. In 2012 TMZ published the news regarding the former defensive tackle named Warren Sapp filing for bankruptcy.

He completed his alma mater at Miami College in 1994, then got selected in the first round of the 1995 NFL Draft.

Sapp played for Tampa Bay Buccaneers from 1995 to 2003. Later, he joined Oakland Raiders and played till 2007 before retiring on 4 March 2008.

The 50-year-old had an interesting career graph which includes Super Bowl XXXVII victory. He received many awards and accolades such as the Tampa Bay Buccaneers Ring of Honor, NFL Defensive Player of the Year, NFL 1990s All-Decade Team, and so on.

Due to Sapp's extreme moments of erratic spending in the name of luxury, he lost all his assets. In the meantime, his obligation to fund child support, and to provide alimony also took a toll on his finances.

The Pro Football Hall of Famer was in such a dreadful circumstance that he had to auction his belongings. His total earnings from his professional career are estimated to be around $58,982,500 while his net worth stands at $500,000 in the present scenario.

Archie Griffin went broke in 1982 because of his failed shoe business. That year the retried running back of the Cincinnati Bengals filed for bankruptcy owing to his unsuccessful business venture.

The 5 feet 9 inches framed sportsman had invested most of his riches in a shoe company with 6 stores.

Sadly, instead of getting prosperous, it made him penniless with a debt of over $500,000. At that time, he owned assets worth $127,750 only.

It is going to be around 3 decades since his retirement and his total revenue stands at $3 million.

He was picked in the first round of the 1976 NFL recruitment ceremony by the Bengals. At the end of his career, he played for Jacksonville Bulls for a year in 1985.

Griffin attended Ohio State College in 1972 and graduated in 1975 becoming the only NCAA athlete to win 2 Heisman trophies.

This proves he had a bright future ahead in the national league. However, as compared to his college career, he did not have many achievements in the American Football League.

Dermontti Dawson became broke in 2010 due to his doomed real estate business. Dermontti filed for bankruptcy as his poor financial decisions led to financial stress for him.

When he filed for Chapter 7 Bankruptcy in 2010, he owned assets of $1.5 million only whereas his debts accounted for $69 million.

The ex-player had cracked a deal with the Steelers in 1994 where they would pay him $2 million yearly until 1997. It is safe to say that he accumulated tons of money, but he lost them due to poor financial management.

He played for the Pittsburgh Steelers from 1988 to 2000. Born on 17 June 1965, Dawson stands at a height of 6 feet and 2 inches.

In total, he played as the center and long-snapper in 184 games. From 1992 to 1998, Dermontti subsequently earned 7 Pro Bowls.

The Kentucky graduate was named the First-team All-Pro 6 times from 1993 to 1998. He was released by the Steelers in 2000 on account of his health issues as well as the limit on his salary.