Why do footballers go broke?

There seems to be an almost endless supply of footballers who’ve been overtaken by alcohol and gambling. Even popular Sky Sports Pundit Paul Merson lost £5m went on gambling, alcohol, and drugs and went bankrupt in 2011.

Do most football players go broke?

Roughly 16\% of retired football players end up bankrupt within 12 years of stepping off the field for the last time, according to a study by the National Bureau of Economic Research.

What percent of NFL players go broke?

Statistics suggest that up to 78\% of NFL players go bankrupt or fall into severe financial stress within just two years of retirement. For basketball players, the figures are only slightly better at 60\% of financial ruin within five years of retirement.

How many professional footballers go broke?

Research by Xpro—a charity for former players—claims that three out of every five Premier League players declare bankruptcy after retirement. According to The Independent, such figures are mirrored in American professional sports, too.

How do ex footballers make money?

You can find former professional footballers in a whole range of jobs, from bakers, postmen and builders, to accountants, fitness trainers and salesmen.

What percentage of professional athletes end up broke?

According to a 2009 Sports Illustrated article, 35\% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60\% of National Basketball Association (NBA) players, 78\% NFL players, and a large percentage of Major League Baseball (MLB) …

What do pro athletes do with their money?

In a lot of cases, it involves buying stuff–obvious, well-worn rich athlete stuff like jewelry, cars, and mansions. And who could blame them? Many others give to charity, start foundations, and raise awareness for their pet causes. Here’s how the world’s millionaire athletes spend their salaries.

What happens with NFL fine money?

The fines collected do not go to the NFL, but instead are donated through the NFL Foundation to assist Legends in need. (Programs are mutually agreed upon by the NFL and NFLPA in the CBA.) Since 2011, about $4 million a year has been used to assist former players.

How footballers spend their money?

The football stadiums are always sold out and millions of spectators cheer on in front of the television. Promotional items such as jerseys, balls, autograph cards, and drinking cups are also bought regularly. These revenues enable the clubs to pay the wages of the stars.