78 percent of NFL players face bankruptcy or serious financial s

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Why pro athletes go broke

August 06, 2013|Robert Pagliarini | Your Other 8 Hours, Tribune Media Services
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Have you heard the story about the professional athlete who just declared bankruptcy? Of course you have. Because when it comes to professional athletes and money, we tend to only hear about how much their new contract is worth or how much they just lost, and, unfortunately, there is no shortage of examples of the latter. A Sports Illustrated article reports the grim statistics: 78 percent of NFL players face bankruptcy or serious financial stress within just two years of leaving the game (due to joblessness or divorce), and 60 percent of NBA players face the same dire results in five years.