*One of the most common happenings to athletes after their playing careers are over is bankruptcy.
We decided to create a top 5 list of black athletes who have gone broke after their days as stars were over.
The first person on the list is “Iron” Mike Tyson.
The man with the iron fist was a poster child for the free-wheeling spending ways of some athletes.
At the time of his bankruptcy, he owed $27 million in debts and claimed he was unable to pay his bills.
The boxer was fighting journeymen fighters and signing autographs across the country just to make some extra cash.
In the last few years, the boxer has rebounded with a Vegas show and some appearances in movies like the popular, “Hangover.”
The man who choked his coach once also choked the life out of his wallet.
A few years ago, the player who made $96 million in his playing career had to foreclose on his home and sell his yacht at auction.
He once turned down a 3-year $21 million dollar contract claiming he “had a family to feed.”
Let’s hope he’s feeding them now.
The man who was known to headbutt opponents with his big head, didn’t have enough of a big head to keep his finances in check.
Holyfield, who is in his late 40s, never behaved responsibly throughout his career when it came to money and had 11 children and is paying child support on all of them.
In 1998, one of the most feared players in NFL history filed for bankruptcy because he just couldn’t pay off his debts anymore.
LT had to foreclose on a home and had a bunch of debt that ranged from mortgage payments to attorney fees.
What Taylor is most known for in recent years is his run-ins with the law.
We hope he’s able and all these athletes are able to get it back together.
The man who can be seen on Showtime’s “Inside the NFL” reportedly made over $60 million during his career and nets six figures as an analyst. But with plenty of mansions and a collection of over 200 sneakers, money can dry up real quick and did as he filed for bankruptcy earlier this year to avoid jail.