Why do so many NFL players go bankrupt?

Posted by: Andrew Pia

Within two years of retirement, 78 percent of NFL players are bankrupt or in severe financial distress. Unlike Rocket Ismail, most of those players can't blame it on the negative karma associated with getting a bear hug from Michael Irvin.

How is this possible? The minimum salary for rookies in 2009 is $310,000. That jumps to $460,000 for two year veterans. How can men who earn so much have so little after retirement?

The Business Insider looked at that question today and listed 10 ways that sports stars destroy their finances. Most of the reasons fall under the umbrella of one of the ways, "Act Dumb." (These include "Do Drugs", "Fight Dogs", and "Have Too Many Children". Two outta three ain't bad, Michael Vick).

Written by: Chris Chase

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