9 Athletes Who Lost All Their Money

The world of professional sports is often associated with fame, glory, and, most notably, lucrative financial rewards. However, the stories of these nine athletes serve as stark reminders that financial prosperity in sports is not guaranteed to last. Despite earning millions during their careers, these athletes faced financial ruin due to a combination of poor financial management, extravagant lifestyles, and unforeseen circumstances. Here’s a closer look at their stories:

Former heavyweight champion Mike Tyson was once the king of the boxing world, with career earnings exceeding $300 million. However, a series of expensive divorces, legal battles, and a lavish lifestyle that included purchasing Bengal tigers led to his bankruptcy in 2003. Tyson’s story is a cautionary tale of how quickly fortunes can change.

NBA star Allen Iverson, known for his incredible talent on the basketball court, earned an estimated $200 million in salary and endorsements. Despite this, Iverson faced financial difficulties after his retirement, with his extravagant spending habits and personal troubles leading to a significant depletion of his wealth.

Curt Schilling, renowned for his MLB pitching career, earned over $100 million. However, his investment in the video game company 38 Studios proved disastrous, leading to bankruptcy and a significant loss of his baseball fortune.

Antoine Walker’s NBA career brought him around $108 million, but his penchant for gambling, poor investment choices, and a taste for luxury resulted in bankruptcy in 2010. Walker’s financial downfall highlights the risks of unchecked spending and investment missteps.

Lenny Dykstra, once a celebrated MLB player, ventured into the world of business after retirement. However, his aggressive investment strategy and legal troubles led to bankruptcy in 2009 and a tarnished reputation. Dykstra’s fall from grace illustrates the risks associated with transitioning from sports to business.

NFL quarterback Vince Young had a promising start with career earnings of approximately $34 million. However, poor financial decisions and a failure to adapt to life after football led to his bankruptcy in 2014. Young’s story underscores the importance of financial literacy for athletes.

Marion Jones, a former Olympic track and field star, saw her world crumble after admitting to steroid use. Stripped of her medals, Jones lost lucrative endorsement deals and faced financial struggles, compounded by her time served in prison.

Boxing legend Evander Holyfield amassed over $230 million during his illustrious career. Yet, his financial stability was rocked by multiple divorces, a large number of children to support, and a series of failed business ventures, leading to a publicized foreclosure of his mansion.

Terrell Owens, one of the NFL’s most prolific wide receivers, earned about $80 million but faced financial distress due to a combination of child support payments, mortgage obligations, and poor investments. Owens’ situation is a reminder of how personal responsibilities can impact financial health.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.