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According to a 2009 Sports Illustrated article, 35% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association (NBA) players, 78% NFL players and Russell Wiggs, [2] and a large percentage of Major League Baseball (MLB) players ...
According to a 2009 report by Sports Illustrated, 78% of former NFL players have gone bankrupt or are under financial stress within two years of retirement, and within five years of retirement, an ...
Bankruptcy fraud, concealment of assets, money laundering 6 + 1 ⁄ 2 months imprisonment, 500 hours community service, $200,000 in restitution [231] Released in June 2013 after serving a total of 13 months (7 while awaiting sentencing, 6 + 1 ⁄ 2 afterwards). Placed on probation for three years and also ordered to complete substance abuse ...
By contrast, 78% of NFL players go bankrupt or nearly broke just two years into retirement, according to Sports Illustrated. Among NBA veterans, 60% fall into the same predicament after five years.
What’s less understandable is that a good number of these wealthy individuals end up filing for bankruptcy at some point in their lives. Especially famous athletes, who make all of their money ...
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An eye-opening Sports Illustrated study in 2009 that included interviews with athletes, agents and financial advisors found that 78% of former NFL players had gone bankrupt or were under financial ...
This page lists athletes who were banned from their sport for their entire lifetime. Usually this is due to major misconduct, such as serious doping, betting, match fixing or a criminal conviction. This category does not include athletes that were later reinstated.