10 Highest Earning Athletes Who Lost Big Money
Adrian Peterson #26 of the Washington Redskins looks on after being tackled by the Philadelphia Eagles during the first half at FedExField on December 30, 2018 in Landover, Maryland.
Scott Taetsch | Getty Images Sports | Getty Images
Professional athletes suddenly becoming rich and then precipitously losing everything is a familiar story to many.
The latest news on this financial front is that star NFL football player Adrian Peterson, a running back for the Washington Redskins, has been ordered by a court in Maryland to repay more than $2.4 million to a lender. after defaulting on a 2016 loan. He is also being sued for $6.6 million by another creditor who claims he failed to repay a loan.
Peterson, 34, earned $99.2 million during his 12-year career. He just signed a new, two-year, $5 million deal with the Redskins this spring, so all may not be lost yet.
Here’s a look at 10 other well-known pro athletes who faced major financial setbacks from which they ultimately bounced back — or didn’t.
Shaun Botteril | Getty Images Sports | Getty Images
The three-time German Wimbledon champion, 51, declared bankruptcy in 2017 after reportedly raking in between $63 million and $200 million during a 15-year tennis career that began in 1984. But he appears to have resumed foot and would now be worth around $10 million.
Michael Reaves | Getty Images Sports | Getty Images
Professional golfer John Daly, 53, told ESPN in 2016 he lost $98 million gambling. The 1991 PGA Championship and 1995 Open Championship winner said he thought he had recovered around $48 million. million, but that still left him with $50 million in the hole at one point. Today, Daly – who admitted to having struggled with addiction in the past – still plays golf and is worth an estimated $2million.
Philippe Faraone | MovieMagic | Getty Images
Estimated by some to have earned up to half a billion dollars in a three-decade boxing career that spanned from 1984 to 2014, 56-year-old Evander Holyfield is now worth 1,000 times less, at around $500,000.
Diamond Pictures | Diamond Pictures | Getty Images
This former Cleveland Browns quarterback, now 55, is believed to have earned as much as $19 million during his football career. But by one estimate, Kosar is now worth around $100,000, having lost everything to divorce settlements and corrupt officials.
Joel Auerbach | Getty Images Sports | Getty Images
The former Miami Dolphins quarterback legend reportedly lost as much as $14 million to a bad investment in 2012. But Marino, 57, is apparently a comeback kid and is now worth, according to some accounts. , still around $35 million.
George Gojkovich | Getty Images Sports | Getty Images
With total earnings estimated at $60 million, retired NFL player Sapp could have lived on an easy street for the rest of his life. But the 46-year-old former defensive tackle now has an estimated $1 million in debt and would only make about half of that annual salary from post-football gigs.
Jim McIsaac | Getty Images Sports | Getty Images
Having apparently earned as much as $60 million in total, the 60-year-old former New York Giants linebacker is now worth around $100,000, according to a source. Legal and family issues, parties and lavish spending would have been to blame.
Rich Polk | Getty Images Entertainment | Getty Images
Once the youngest heavyweight boxing champion in history, ‘Iron Mike’ amassed over $300 million in prize money and winnings – before losing most of it. Tyson is a story of financial, personal and professional ups and downs, a roller coaster ride from fall to return. Now 53, Tyson declared bankruptcy in 2003. His current net worth is estimated by at least one source to be just 1/100th his former wealth of $3 million.
Kevin C. Cox | Getty Images Sports | Getty Images
Worth an estimated $16 million, the 39-year-old former quarterback lost up to $130 million after a stint in jail, personal bankruptcy, spending and investing mistakes and a business ill-advised and highly publicized combat campaign.
Documents | Getty Images Sports | Getty Images