When it all goes wrong

The adrenaline rush of competing in front of thousands of cheering fans, along with the lavish lifestyles that come with lucrative contracts, can make the life of a pro athlete seem like a fairytale. However, not all sports stars manage their finances wisely, and some end up facing financial ruin once their playing days are over. Here, we take a closer look at several high-profile athletes who went from living the high life to experiencing the harsh reality of bankruptcy.

Diego Maradona

Diego Maradona, an Argentine soccer legend, captured the world’s attention with his exceptional skills and memorable goals. Despite earning massive sums of money throughout his career, Maradona struggled with addiction, extravagant spending, and legal troubles. In  2009, there Argentine filed for bankruptcy after Italian Tax Authority demanded he pay around £53 million in unpaid taxes from his time as a Napoli player, according to Sportskeeda.

Boris Becker

Boris Becker, a tennis icon and multiple Grand Slam champion, achieved worldwide fame and fortune in the 1980s. However, Becker’s extravagant lifestyle, including expensive homes, luxury cars, failed business ventures and divorce settlements contributed to his financial struggles. In 2017, he was declared bankrupt squandering a fortune of over $200 million, according to the Mirror. He was also jailed for hiding over 3 million dollars in his fraud case relating to his bankruptcy. 

Dennis Rodman

Dennis Rodman was characterized as someone who was very generous during his NBA career. But his generosity wasn’t what caused him to go broke. According to ABC News, Rodman had a serious drinking problem in 2012 that led to him filing court papers saying he could not afford to pay child support. At the time, he owed his ex-wife over $837,000 in back child support and was previously ordered to pay her $50,000 a month, according to Nicki Swift. 

Mike Tyson

Mike Tyson: Once known as “Iron Mike” and considered one of the greatest boxers of all time, Mike Tyson amassed a fortune estimated at $300 million throughout his career. However, poor financial management, extravagant spending, and legal troubles took a toll on his finances. In 2003, Tyson filed for bankruptcy, with debts exceeding $$38.4 million, according to the Bleacher Report, 

Marion Jones

Marion Jones was a track and field sensation, winning multiple Olympic medals and World Championships. However, her career took a dark turn when she admitted to using performance-enhancing drugs and subsequently had her medals stripped. Along with the loss of her reputation, Jones faced a series of legal battles and financial challenges, ultimately leading to her bankruptcy filing in 2007.

Evander Holyfield

Evander Holyfield, a legendary heavyweight boxer, amassed an impressive fortune throughout his career. Despite earning a whopping reported $500 million during his career, according to Sportskeeda, Holyfield faced financial challenges due to extravagant spending, multiple divorces, and poor financial management. In 2012, he faced foreclosure on his Georgia mansion and filed for bankruptcy.