Mike Tyson made over $500 million and declared bankruptcy. These guys are just jocks, not financial gurus.

Been a CPA for 30 years and have worked with a number of athletes. This happens more than you realize.

They acquire an expensive lifestyle; house(s), car(s), women, family, friends, etc. and think the good earnings will last forever. When they are done playing, the expensive lifestyle still remains and whatever savings they have accumulated, gets used pretty quickly.

Same thing happens with lottery winners.

you mean Don King made 500 million off of Mike Tyson.

Stevie Franchise ain't broke. He does likely have drinking problem though.

"you mean Don King made 500 million off of Mike Tyson. |

There was a very good HBO semi documentary about Don King. You wouldn't want to buy a used car off the guy, let along sign a multi million dollar boxing contract.

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you don't need to be a financial guru to not blow $500m. you do need to be a raging idiot to lose it.

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