Straight Cash Homey! 15 Athletes Who Went Broke

Everyone assumes professional athletes have it made. Millions of dollars, (inter)national fame and recognition and a bevy of women who throw themselves all over you hoping for a pay day.

While all that sounds fine and dandy, the reality is different. Several very prominent athletes over the last few years have gone a downward slide on the good 'ol IRS tax bracket.

Here are 15 of the worst cases of millionaires going broke in sports.

15. Marion Jones

The fastest woman on earth was at one point raking in around $7 million a year through her track and field career. She was a five time Olympic Medalist, winning the gold in the 100 meters, 200 meters and 1,600 meter relay as well as bronze in the long jump and 400 meter relay, all during the 2000 Summer Olympics in Sydney.

In late 2007 Jones came clean on the fact that she lied to authorities regarding her steroid use during the Olympics but was later involved in the BALCO fiasco in California.

In October 2007 Jones pled guilty to perjury and was thus sentenced to six months in jail to begin in March of 2008 and end(ed) in September of the same year.

Jones has since signed to play with the Tulsa Shock of the WNBA and is averaging an outstanding two points per game, averaging just seven minutes of playing time each night.

14. Deuce McAllister

Deuce is the all time leading rusher in Saints franchise history as well as the top touchdown scorer and is one of the most beloved Saints in New Orleans. In February 2009 the Deuce was cut loose by the Saints due cap problems the team was facing. After he missed the entire 2009 season, McAllister resigned with the Saints in January 2010 but less than a week later he retired from not playing.

McAllister earned an estimated $70 million during his seven year stint in the NFL but most of that is long gone. He owns a Nissan dealership in Mississippi but is being sued by Nissan for $6.6 million dollars as well as $300,000 just in interest payments to the manufacturer.

13. Lenny Dykstra

Lenny was a World Series champ back in 1986 with the Mets but it seems that was the high point of his life since becoming a professional baseball player.

Lenny has two brothers who both have accused him of fraud, especially with regards to the case of California based car washes they once owned. Lenny sold the company for $40 million and was supposed to break off 10% for his brother but failed to do so.

Dykstra once owned a private jet but for some reason could not afford the fuel to take him anywhere. He has been accused by former employees that he would ask them to pay for the fuel on their own credit cards, promising to pay them back. Lenny hit bottom with the airplane situation when he called his mother crying asking her for $13,000 to pay for the planes jet fuel.

In 2009 “Nails” faced foreclosure on a $17.5 million dollar house that was once owned by Wayne Gretzky. By August of the same year he was living out of his car and hotel lobbies.

12. Kenny Anderson

The former #2 overall pick in the 1991 NBA Draft by the Nets, Kenny Anderson had a very decent NBA career length wise. He came in as a rookie in 1991 and would eventually play for nine NBA teams in 14 years. Kenny was also named an All-Star during the 1993/1994 season while a member of the Nets.

Through his career Anderson earned an estimated $60 million dollars and for most of us that figure would last for generations to come. By October 2005, Anderson was piling up $41,000 a month in expenses that included but were not limited to his mothers house payment as well as the child support he has to pay for his eight children.

Even with a $40,000 plus monthly bill that nice stack of $60 million would last a long long time. The question then becomes just how did the former all-star manage to squander it all away?

Simple, he had eight cars in the garage of his Beverly Hills mansion (or one for every day of the week right?) Anderson was also known for constantly just handing out cash to family and friends consistently ranging from $3,000 to $5,000 or more each time.

Perhaps the largest chunk of his fortune that he had to hand over was approximately a $5.8 million dollar prenuptial agreement with former wife Tami Akbar and was also forced to pay monthly child support that was valued at $8,500 a month.

After the 2005 NBA season, Kenny was broke enough to accept a spot on BC Zalgiris. Go ahead and try to guess where that team is from, I bet you won't be able to do it! Is it worse that Kenny Anderson had to go to Lithuania to play pro ball or the fact that the same Lithuanian team released him after just one season over seas?

11. George Best

Regarded as one of the greatest players in the history of Manchester United, George Best is also perhaps the greatest footballer there ever was from Northern Ireland. He had a 21 year career that earned him fame and fortune world wide.

However, after his playing days were long over, Best went into a financial down fall. Always a heavy drinker, Best soon needed a liver replacement in order to survive. Not learning from his medical mistakes, George was arrest for driving drunk and assaulting a police officer and sent to prison for three months. However once he was released he went back to his old ways and soon was again arrested for the same reasons, which resulted in another prison sentence of course.

One of the first “celebrity” athletes, George racked up an estimated $100 million dollars in career earnings through his 21 year long career. However he was nearly broke at the time of his death due to multiple organ failure, from his heavy drinking, and during an interview with the BBC he stated “I spent a lot of money on booze, [women], and fast cars. The rest I just squandered.”

10. Travis Henry

Henry was a former University of Tennessee chosen by the Bills in the second round of the 2001 NFL Draft. He had his best season in 2002 racking up 1,438 yards 13 touchdowns and his first pro bowl selection.

After several problems within the organization he was playing for, Henry was asked to be traded so he could again be the first option at RB (McGahee took his spot). Henry was traded to the Titans where he again was not he starter.

After his release from the Titans in 2007 he joined the Broncos but was again cut in June of 2008.

Henry has reportedly had to pay about $170,000 a year in child support, according to his lawyer, since he has 11 children with 10 women.

In late September 2008 Henry was arrested by the DEA due to his involvement as the money man in a scheme to traffic several kilograms of cocaine.

He was facing a 10 year to life sentence due to the arrest, Henry and his lawyers reached a plea agreement and on July 15th 2009 Henry was sentenced to three years in a federal prison for bankrolling the cocaine operation.

On top of his three year sentence, Henry will have to pay close to $4 million in fines.

9. Bernie Kosar

As a redshirt freshmen in 1983, Bernie Kosar led the Miami Hurricanes to their first National Championship with a victory over Nebraska in the 1983 Orange Bowl.

Following several bad investment ideas after his retirement from the NFL in 1996, today Bernie Kosar has declared bankruptcy (June 2009) and has listed with the courts he is $19 million dollars in debt.

In 2001 he became part owner of the Florida Panthers (first huge mistake) and in 2004 he opened a steak house in Miami which is now closed. In his last ditch effort he became a minority owner in the AFL's Las Vegas Gladiators franchise in 2007.

8. Scottie Pippen

Now a days we usually only hear the name Scottie Pippen during the phrase "Jordan wouldn't have won six without Scottie".

That may be so, but we can't forget Scottie was actually a top 5 pick, even though he never made a "top 5 pick" caliber decision when it came to investments.

Reportedly having already lost $120 million dollars due to poor financial planning and bad business deals (since 2004), Scottie even spent $4.3 million on a Gulfstream Jet that has been grounded for over eight years.

Pippen recently sued and as of this week won a lawsuit brought against his attorneys who he says failed to monitor his airplane purchase.

Despite asking for $8.2 million in the suit, Pippen was awarded $2 million by a Cook County jury.

7. Latrell Sprewell

Selected late in the first round of the NBA Draft by Golden State in 1992, Spree came on strong as a rookie in the NBA. He averaged 15 points a game as a rookie and with performance improvements he made the All Star team in 1994, 1995 and 1997.

Perhaps the biggest reason we all know Sprewell today was due his "chocking" incident in 1997. During practice, his coach P.J. Carlesimo told Latrell to "put a little mustard" on his passes, since he seemed to not be trying his best.

Latrell would respond to his coach saying he was not in the mood to be criticized and told P.J. to stay away. Once the coach stepped towards him however Spree quickly took action and while threatening to kill him, he grabbed Carlesimo by the throat and dragged him to the floor for nearly 15 seconds before teammates broke it up.

The next day Golden State voided the remained of Latrell's contract which was for three years and $23.7 million dollars.

After the 1998-1999 NBA Lockout Sprewell found himself as a member of the Knicks squad that faced but lost to the Spurs in the NBA Finals. Following his first season in the New York, the Knicks gave him a five year deal worth $62 million.

After the 2003 season however Spree was traded by the Knicks to Minnesota in a four team trade. In October of 2004, the Wolves offered him a three year $21 million dollar extension but of course Latrell Sprewell was insulted and was quoted as saying "I have a family to feed".

Even his agent got in on the act, saying his client would rather retire than make the NBA minimum of $1 million calling it a slap in the face. Just a few days later his agent, Bob Gist, said his client would wait until the trade deadline when teams get desperate to sign with a squad, but he mentioned clearly that the he would not sign for any teams mid level exception, or $5 million dollars, saying the value was "a level beneath which Spree would not stoop or kneel."

In the last three years, Sprewell has been sued for $200 million by his former partner, ran his yacht ashore, refused to pay someone to remove it and eventually had the boat repossessed by federal marshals after Latrell failed to make payments and insurance for the vessel, which he still owed more than a million dollars on. He has also had two homes go into foreclosure status after he failed to make mortgage payments of $2600 a month.

But $5 million for one year is an insult right? I mean he does have kids to feed! Its not his fault his children can only eat diamonds and gold.

6. Lawrence Taylor

After making an estimated $50 million during his hall of fame career in the NFL, Taylor was forced to declare bankruptcy in 1998.

Immense legal fees resulting from various arrests, the rumors of his involvement in a drug and arms ring followed by a false tax return he filed with the IRS Taylor was completely broke.

He has since regained some of his fortune, being featured in video games as well as having a speaking tour.

He is now in jail on charges of rape of an underage girl in New York State, something that will surely not be cheap to try and defend.

5. John Daly

John Daly burst onto the gold scene when he won the 1991 PGA Championship as the 9th alternate for the tournament.

Seen as an "every man" Daly quickly grew in popularity for both his on the course actions as well as his lifestyle off it.

Daly claims that from 1991-2006 he lost between $50 and $60 million dollars just on gambling alone. It includes the loss of over $1.5 million in October 2005 alone related to his weakness; $5,000 Las Vegas Slots.

4. Eddy Curry

What do you get when you add up a million dollar loan at 85% interest, $17,000 a month on rent, $30,000 in household expenses monthly, $16,000 a month to family members?

Eddy Curry

The top bench warmer on the Knicks squad is in serious doo doo. He owes so much money it is actually hard to find out where he spent it all. Don't forget that he has a current salary of $10.5 million per season. The last two seasons, 08/09 & 09/2010, Curry played in ten games TOTAL.

If you work out the numbers, it comes out to a total of just 74 minutes on the court over the course of the last two years. At this rate to justify his $10.5 million contract, the Knicks are actually paying him $283,783.00 a minute.

He also owes Juwan Howard $350,000 for some weird reason or another.

3. Antoine Walker

Antoine Walker had his little signature shimmy shake that he liked to throw in there after he sinks a few three's every game. Well I guess he felt it would work off the court as well but clearly he couldn't get other people to buy into the move.

After a 13 year NBA career where he made over $100 million dollars, Walker has had to attempt to save face playing in a Puerto Rican minor league team that won't guarantee game checks unless the side wins.

He was arrested in July of 2009 as a result of writing bad checks to casinos in Vegas that would total up to over $800,000.

In may of 2010 he filed for bankruptcy claiming total assets of $4.3 million while he has debts of $12.7 million. Walker has four properties listed in the court filing, three in Chicago (one is listed at $1.4 million) and the other a $2.3 million dollar house in Miami which he still owes $3.6 million on (somehow). He also got his BFF Nazr Mohammed to pay 50% of the attorney's fee in his bankruptcy case.

How does that old saying go again? If it ain't broke it ain't Antoine Walker.

2. Evander Holyfield

“I’m not broke; I’m just not liquid,” 45-year-old Holyfield said when he almost fell behind $9,000 in child support payments that are court-ordered.

His $10 million dollar house was just foreclosed on and Holyfield has the distinct honor of being able to also say he owes his gardeners over $500,000 in unpaid labor.

How does a four time champion who made over $250 million in earnings go broke so fast? Having 11 children who you have to pay child support for is a big reason. Maybe the biggest reason is that the same house in foreclosure has as follows: 54,000 square ft, 17 bathrooms an 109 rooms.

Really? 17 bathrooms? 17??? How much do you need to poop Evander???

1. Mike Tyson

Undisputed heavyweight champion of the world: Check
Youngest man to win the WBC, WBA and IBF heavyweight titles: Check
Win 12 of first 19 fights with a first round K.O.: Check

Iron Mike is perhaps the most misunderstood athlete of our time. As a fighter he is instantly seen as not a brain but just a brawn. He had a nasty divorce from an actress, the man that raised him suddenly died and not to mention he spent three years in prison on a rape charge.

We can't forget the ear biting incident either, perhaps though he knew Evander wasn't liquid and he needed some sort of item to guarantee payment by Holyfield.

After earning an estimated $300-$400 million during his boxing career Tyson sank low enough that an one point he was simply worth $700 dollars.

The last few years have been better however, he stopped fighting and has appeared in several films including one that is based on his life story.

I just cant get over the fact he has a tattoo on his face now. How drunk do you have to be to say that's a good idea? Probably more drunk than you have to be when you tell national tv during a live interview you are just going to fade into Bolivia.