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Riches to Rags: Sport stars who went broke in retirement

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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, 

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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.

Kunle Solaja is the author of landmark books on sports and journalism as well as being a multiple award-winning journalist and editor of long standing. He is easily Nigeria’s foremost soccer diarist and Africa's most capped FIFA World Cup journalist, having attended all FIFA World Cup finals from Italia ’90 to Qatar 2022. He was honoured at the Qatar 2022 World Cup by FIFA and AIPS.

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Maradona’s former home transformed into a soup kitchen

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People cook stew for residents of the working-class neighbourhood of Villa Fiorito at a soup kitchen set up in the house where late soccer legend Diego Armando Maradona spent his early childhood, on the outskirts of Buenos Aires, Argentina, March 26, 2026. REUTERS/Miguel Lo Bianco 

Every week, hundreds of people line up to fill a plastic container with food ​in an unlikely place: the humble home where Argentine soccer legend Diego Armando ‌Maradona was born.

The house in Villa Fiorito, a poor neighbourhood on the outskirts of Buenos Aires, no longer belongs to the family of Maradona, who died in 2020 after a heart attack. Still, for the ​last month, its current owner has lent its dirt yard to a group of ​volunteers who light a grill and cook for neighbours.

Last Thursday, Maria Torres ⁠stirred a stew in two large pots while several others peeled potatoes and chopped pieces ​of chicken. A mural painted on the house’s facade depicts the soccer player next to ​the words, “The house of god.”

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A man cooks stew for residents of the working-class neighbourhood of Villa Fiorito at a soup kitchen set up in the house where late soccer legend Diego Armando Maradona spent his early childhood, on the outskirts of Buenos Aires, Argentina, March 26, 2026. Picture taken with a mobile phone. REUTERS/Miguel Lo Bianco

Poverty has been trending downward in Argentina, with official statistics released on Tuesday showing it dropping to 28.2% of the country’s population in the second half of 2025 from 52.9% in ​the first half of 2024, when President Javier Milei sharply devalued the peso and inflation ​spiked.

While there has been a “very important drop” in poverty, Argentina needs to see more GDP growth in ‌labour-intensive ⁠sectors, such as mining, as opposed to capital-intensive sectors, such as agriculture, said Eduardo Donza, a sociologist at the Catholic University of Argentina.

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Volunteers chop chicken before cooking a stew for residents of the working-class neighbourhood of Villa Fiorito at a soup kitchen set up in the house where late soccer legend Diego Armando Maradona spent his early childhood, on the outskirts of Buenos Aires, Argentina, March 26, 2026. Picture taken with a mobile phone. REUTERS/Miguel Lo Bianco

The drop in the poverty rate has followed a substantial drop in monthly inflation, from double digits when Milei took office to 2.9% in February.

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A man cooks stew for residents of the working-class neighbourhood of Villa Fiorito at a soup kitchen set up in the house where late soccer legend Diego Armando Maradona spent his early childhood, on the outskirts of Buenos Aires, Argentina, March 26, 2026. Picture taken with a mobile phone. REUTERS/Miguel Lo Bianco

However, ​Milei’s austerity measures have ​sharply diminished the public ⁠sector workforce, and many say they have lost purchasing power as the government has cut transportation and energy subsidies.

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Volunteers chop chicken before cooking a stew for residents of the working-class neighbourhood of Villa Fiorito at a soup kitchen set up in the house where late soccer legend Diego Armando Maradona spent his early childhood, on the outskirts of Buenos Aires, Argentina, March 26, 2026. Picture taken with a mobile phone. REUTERS/Miguel Lo Bianco

Leonardo Fabian Alvarez, a ​pastor who runs the makeshift soup kitchen, said he has seen the ​demand for ⁠food in Villa Fiorito and other neighbourhoods grow as small factories have closed. Deregulation and a stronger peso have led to cheaper imports under Milei.

“People obviously lost their jobs,” he said, adding that “they come ⁠to ​the line, pick up food, take what we give ​them.”

Argentina declared the home of Maradona a National Historic Site in 2021.

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-Reuters

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Neymar’s Father Buys Rights to Pelé Brand in Landmark Deal to ‘Bring the King Home’

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The legacy of Brazilian football legend Pelé has taken a new turn after Neymar Santos Sr, father of Brazil star Neymar Jr, confirmed the acquisition of the commercial rights to Pelé’s name and image through his agency, NR Sports.

Speaking at the Pelé Museum in Santos, Brazil, Neymar Sr said the deal marks a new chapter for one of the most iconic brands in global sport.

“We are proud. I think it’s a very strong brand. We want to strengthen its identity and adapt it to the current era,” he said, describing the project as deeply emotional and nationally significant.

Although financial details were not officially disclosed, Brazilian media estimate the acquisition at around $18 million. The rights had previously belonged to US-based company Sport 10, which many in Brazil accused of underdeveloping a national treasure.

A ‘Repatriation’ of Pelé’s Legacy

NR Sports described the agreement as a “repatriation” of Pelé’s brand—bringing back to Brazil “one of the greatest symbols in the history of world sport.”
Pelé’s daughter, Flavia, attended the announcement and welcomed the move, saying the family had tried—and failed—to reacquire the rights after Pelé’s death in 2022.

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“There are no words to describe the emotion of bringing back a brand that embodies soul, humanity, and love. It’s priceless,” she told AFP.

The unveiling was accompanied by an emotional tribute at the Pelé Museum, which erected a massive green screen with Pelé’s iconic logo. A video shared on Pelé’s and NR Sports’ official accounts celebrated the “universal language” of Brazilian football, showing some of the King’s most memorable goals from his World Cup triumphs in 1958, 1962, and 1970.

Neymar Jr: ‘Pelé Was Born to Change Everything’

Neymar Jr, who recently returned to Pelé’s former club Santos and has surpassed the King as Brazil’s all-time top scorer, featured in a promotional video congratulating his father’s company.

“Some are born to play, others are born to change the game. Pelé was born to change everything,” the 33-year-old forward said. “Pelé never stopped being one of us, and now he is officially part of Brazil, again and forever.”

A New Era for an Underused Global Brand

For years, Pelé’s image rights were more prominently exploited abroad than at home—a situation that drew criticism from the family and Brazilian football circles. The new deal is expected to revitalise the Pelé brand through modern marketing, partnerships, and heritage initiatives anchored in Brazil.

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“This is the beginning of a motivating project for us. We are very moved,” Neymar Sr added.

Pelé, who died in December 2022 at age 82, remains an enduring symbol in Santos, São Paulo state, where he played from 1956 to 1974 and where thousands still visit his mausoleum.

With the rights now back in Brazilian hands, NR Sports says the goal is clear: preserve, expand, and enrich the legacy of the King of Football for generations to come.

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Messi visits Barca’s revamped Camp Nou, hopes to return

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Lionel Messi expressed his wish to one day return to Barcelona’s Camp Nou on Monday, having made a brief visit to see the newly revamped stadium where he spent 21 years of his illustrious career.

The 38-year-old Argentine World Cup winner, who joined Barca’s youth academy at age 13 and went on to become the club’s all-time top scorer with 672 goals in 778 appearances, left the Catalan side in 2021 when they could not make it financially viable to keep him.

Having won 10 LaLiga titles, four Champions League crowns and three Club World Cups with Barca, Messi now plays for Inter Miami after two years with Paris St Germain.

Barca reopened the Camp Nou on Friday, 895 days after its closure, unveiling a revamped stadium by staging an open training session attended by 21,795 fans.

“Last night, I returned to a place that I miss with all my heart. A place where I was immensely happy, where you made me feel a thousand times like the happiest person in the world,” the eight-times Ballon d’Or winner wrote on Instagram on Monday.

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“I hope that one day I can return, and not just to say goodbye as a player, as I never got to do.”

Messi extended his contract with Inter Miami in October, and has previously said that the Major League Soccer club would likely be his last.

“You’re always welcome at your home, Leo,” Barca posted on X.

-Reuters

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