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Fools and their money soon part. 60 Max takes a look at a few of these teriible NFL money managers. Here is our dirty dozen:
12. Raghib “Rocket” Ismael
Career Earnings: $20 Million
Ismael is proof that some players aren’t cut out for the business world. Bad business moves and financial consultants bled Ismael’s riches by selling him their “can’t miss” projects. Ismael received at the time the richest three year deal in Canadian football history. He played two years in Canada and 10 in the NFL, earning an estimated $18 million to $20 million in salary. He then started to fund a series of business ventures that went south, including a Rock n’ Roll Café, COZ Records, a movie, cosmetics and a nationwide phone-card dispenser.
11. Travis Henry
Career Earnings: $20 million
Henry is just a bad dude. He has 9 kids by 9 separate baby mamas. He was also indicted on charges of cocaine trafficking. He’s been jailed for failing to temporarily reduce one of his nine child-support payments, stating that he could no longer afford to pay $3,000/month. Henry threw away his career and a $25 million contract with the Broncos because of drug trafficking and failed drug tests.
10. Tiki Barber
Career Earnings: $35,000,000
When Barber left his pregnant wife for a 23-year-old intern, he was fired by NBC for violating a morality clause in his contract. Barber left football to pursue a lucrative broadcasting career? How’d that work out? Not very good at all; maybe he should have read the fine print in his contract before hitting on the staff. In 2011, Barber tried to get back into the NFL to no avail. It’s easier to catch a 23-year-old than a NFL contract, just ask Barber.
9. JaMarcus Russell
Career Earnings: $40,000,000
Sipping on “Grape Drank” (Grape soda and codeine cough syrup) is just one of Russell’s problems. The other is he just isn’t good at all. His work ethic was so poor just about any quarterback that went to the Raiders got the starting job over Russell. Although he says he’s “far from” broke, Russell fell behind on the mortgage payments and had to pay a lien to the state of California for over $200K in back taxes. Russell will not only go down in history as a bad spender, he’s is Ryan Leaf’s main competition for the biggest overall number one pick bust in NFL history. Now, that’s an accomplishment.
8. Dermontti Dawson
Career Earnings: $25,000,000
Demontti Dawson could be the worst investor ever, or the greatest snake oil salesman ever. Creditors may have been too quick to invest with Dawson. Did anyone ask to see his portfolio? When the seven-time Pro Bowler filed for bankruptcy in 2010, he reported $1M in resources and $70M in debts. How does that happen? Dawson listed his “fake Rolex” and his daughter’s dog, “valued at $10” as assets. What’s next? Selling his left over unused athletic tape?
7. Mark Brunell
Career Earnings: $50,000,000
Known to be a good improviser, the left-handed quarterback’s most impressive trait might be his ability to make money go up in smoke. While in Jacksonville, Brunell invested heavily in Michigan real estate (Okay, we should stop here) and a fast food chain called “Whataburger.” Brunell lost millions and is facing $25M in lawsuits. At 41-years-old, Brunell should be retired, but will likely have to play another decade to get back into the some sort of financial resurrection.
6. Lawrence Taylor
Career Earnings: $50,000,000
Coke is a wonderful drug as stated by Dave Chappelle in his famous Rick James skit, but LT lost a fortune by sniffing, lavish spending, and hard partying. Since his retirement, Taylor’s been arrested numerous times for drugs, was caught by the IRS filing a false tax return, and declared bankruptcy in the late 90s, not mention the whole underage prostitute thing.
5. Chris McAlister
Career Earnings: $50,000,000
It was revealed during a hearing that he tried to have his child support payments lowered. The former Ravens cornerback declared he was so broke that he was living with his parents. A dude that once inked a $55M contract was back to an allowance and curfews.
4. Warren Sapp
Career Earnings: $60,000,000
Sapp has racked up $7M worth of debt and fell victim to the popular downfall for athletes: four baby mamas. He so called lost his Super Bowl ring (wink) and National Championship ring. Sapp claims a lion skin rug and some 240 pairs of Jordan brand sneakers as assets— maybe he can find a sneaker buff to sell his kicks, provided he hasn’t worn them all.
3. Deuce McAllister
Career Earnings: $70,000,000
It took McAllister a year to go broke. The former Saints running back was instantly crippled financially by a failed car dealership. McAllister was $7M in debt and his Louisiana home was auctioned off by the Sheriff’s office less than 12 months after his retirement.
2. Terrell Owens
Career Earnings: $80,000,000
The toxic receiver spent most of the last decade assassinating QB’s characters and tearing teams to pieces, qualities teams tend to overlook when you’re notching 15 Touchdowns a season. However with his age and seemingly in need for a contract, the league turned its back on the six-time pro bowler last fall. Not good when you have bills to pay.
1. Michael Vick
Career Earnings: $130,000,000
Vick lost an estimated $130M in earnings while spending two years in prison, but even without the legal and personal recoil from bank rolling a dog fighting business, the Eagles quarterback was a financial wreck. He spent millions by supporting an entourage of over 30 people. During his bankruptcy hearing, it was uncovered that Vick had spent almost $18M in twenty three months. The four-time Pro Bowler recently inked a six-year, $100M deal with Philadelphia, and provided the Eagles quarterback doesn’t go back to spending money like a drunken sailor, He could possibly find his way to economic stability by 2015.