The Worst, Most Ill-Advised Investments Athletes Have Ever Made

Terrell Owens looking sad

It’s no secret many athletes make boat loads of money.

Despite being held to such high esteem by fans and casual lookers-on alike, they’re not immune to some of the financial troubles the rest of us normal folk go through.

Sure some of these blunders may have been honest mistakes, but others are more of the “I’ve clearly run out of ways to spend my money” variety.

How about some inflatable rafts to protect your furniture during a flood? Sounds like a great idea, no?

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[slide
permalink=”former-mets-lightning-rod-lenny-dykstra-did-everything-wrong-he-fancied-himself-a-financial-adviser-and-started-a-corporate-jet-company-called-players-club-hes-being-sued-for-millions-all-the-while-living-up-to-his-eyeballs-in-debt-on-ridiculously-sized-mansions-and-luxury-cars-1″
title=”Former Mets lightning rod Lenny Dykstra did everything wrong. He fancied himself a financial adviser and started a corporate jet company called “Players Club.” He’s being sued for millions all the while living up to his eyeballs in debt on ridiculously-sized mansions and luxury cars.”
content=”Source: Under30CEO.com
image=”http://static.businessinsider.com/image/4f19e18c6bb3f7516d000034″
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[slide
permalink=”boxer-evander-holyfield-squandered-his-reported-250-million-lifetime-earnings-by-purchasing-things-like-a-54000-square-foot-109-room-home-that-sat-on-235-acres-2″
title=”Boxer Evander Holyfield squandered his reported $250 million lifetime earnings by purchasing things like a 54,000 square foot, 109-room home that sat on 235 acres.”
content=”Source: Yahoo! Sports
image=”http://static.businessinsider.com/image/4f19c718ecad04b828000001″
caption=””
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]
[slide
permalink=”former-detroit-red-wings-forward-darren-mccarty-declared-for-bankruptcy-in-2006-with-a-debt-to-assets-ratio-of-62-million19-million-a-shady-business-partner-and-vegas-casinos-were-to-blame-3″
title=”Former Detroit Red Wings forward Darren McCarty declared for bankruptcy in 2006 with a debt to assets ratio of $6.2 million/$1.9 million. A shady business partner and Vegas casinos were to blame.”
content=”Source: ESPN
image=”http://static.businessinsider.com/image/4f19b820eab8eaae47000041″
caption=””
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[slide
permalink=”hall-of-fame-running-back-eric-dickerson-lost-a-good-chunk-of-change-for-investing-with-luigi-difonzo-a-felon-who-tricked-people-into-thinking-he-was-of-italian-nobility-4″
title=”Hall of Fame running back Eric Dickerson lost a good chunk of change for investing with, Luigi DiFonzo, a felon who tricked people into thinking he was of Italian nobility.”
content=”Source: Sports Illustrated
image=”http://static.businessinsider.com/image/4f19e11469beddb052000018″
caption=””
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]
[slide
permalink=”former-ohio-st-standout-defensive-back-antoine-winfields-luck-ran-out-as-soon-as-he-hit-the-nfl-winfield-lost-well-over-1-million-by-letting-his-friendagent-take-care-of-all-of-his-money-without-ever-asking-what-he-was-up-to-5″
title=”Former Ohio St. standout defensive back Antoine Winfield’s luck ran out as soon as he hit the NFL. Winfield lost well over $1 million by letting his friend/agent take care of all of his money without ever asking what he was up to.”
content=”Source: US News & World Report
image=”http://static.businessinsider.com/image/4f19c15869beddb71000001e”
caption=””
credit=””
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]
[slide
permalink=”legendary-denver-broncos-quarterback-john-elway-lost-15-million-in-a-ponzi-scheme-he-was-one-of-over-60-investors-who-lost-out-on-71-million-to-denver-hedge-fund-manager-sean-mueller-6″
title=”Legendary Denver Broncos quarterback John Elway lost $15 million in a ponzi scheme. He was one of over 60 investors who lost out on $71 million to Denver hedge fund manager Sean Mueller.”
content=”Source: Denver Post
image=”http://static.businessinsider.com/image/4f19e22169beddf954000018″
caption=””
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]
[slide
permalink=”michael-jordans-long-time-sidekick-scottie-pippen-lost-35-million-on-a-chicago-real-estate-deal-and-another-1-million-on-a-private-jet-7″
title=”Michael Jordan’s long time sidekick Scottie Pippen lost $3.5 million on a Chicago real estate deal and another $1 million on a private jet.”
content=”Source: ABA Journal
image=”http://static.businessinsider.com/image/4f19e2be6bb3f73273000028″
caption=””
credit=””
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]
[slide
permalink=”throwing-300000-into-a-planet-hollywood-ripoff-seemed-like-a-sound-investment-to-raghib-rocket-ismail-ever-heard-of-rock-n-roll-cafe-8″
title=”Throwing $300,000 into a Planet Hollywood ripoff seemed like a sound investment to Raghib “Rocket” Ismail. Ever heard of Rock N’ Roll Cafe?”
content=”Source: Sports Illustrated
image=”http://static.businessinsider.com/image/4f19d3e16bb3f73a55000041″
caption=””
credit=””
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]
[slide
permalink=”los-angeles-angels-all-star-of-torii-hunter-once-put-70k-in-a-company-that-made-inflatable-rafts-to-protect-your-furniture-during-a-flood-he-stopped-investing-after-he-was-asked-to-put-in-another-500k-9″
title=”Los Angeles Angels All-Star OF Torii Hunter once put $70K in a company that made inflatable rafts to protect your furniture during a flood. He stopped investing after he was asked to put in another $500K.”
content=”Source: Sports Illustrated
image=”http://static.businessinsider.com/image/4f19e3b5ecad04e750000029″
caption=””
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]
[slide
permalink=”dog-fighting-convictions-alone-wouldve-probably-done-michael-vick-in-but-failed-investments-in-an-indiana-car-rental-company-and-a-georgia-wine-shop-among-others-translated-into-filing-for-chapter-11-10″
title=”Dog fighting convictions alone would’ve probably done Michael Vick in, but failed investments in an Indiana car rental company and a Georgia wine shop, among others, translated into filing for Chapter 11.”
content=”Source: Fox News
image=”http://static.businessinsider.com/image/4e68df83eab8ea0e2400001e”
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[slide
permalink=”one-of-the-best-nfl-receivers-of-all-time-lost-50000-in-a-fake-shoe-company-investment-art-monk-was-fooled-by-his-friend-and-teammate-terry-orr-who-used-the-money-to-pay-off-his-personal-debts-11″
title=”One of the best NFL receivers of all-time lost $50,000 in a fake shoe company investment. Art Monk was fooled by his friend and teammate Terry Orr, who used the money to pay off his personal debts.”
content=”Source: US News & World Report
image=”http://static.businessinsider.com/image/4f19da79ecad040243000020″
caption=””
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]
[slide
permalink=”terrell-owens-along-with-a-bunch-of-other-nfl-players-saw-no-returns-on-their-investment-in-an-alabama-electronic-bingo-operation-to-lost-2-million-alone-12″
title=”Terrell Owens, along with a bunch of other NFL players saw no returns on their investment in an Alabama electronic bingo operation. T.O. lost $2 million, alone.”
content=”Source: Pro Football Talk
image=”http://static.businessinsider.com/image/4f19dcbd6bb3f7526500002c”
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[slide
permalink=”maybe-these-guys-should-get-better-advice-too-13″
title=”Maybe these guys should get better advice too…”
content=”NOW CHECK OUT THE CRAZY WAYS SOME ATHLETES HAVE SPENT THEIR PAYCHECKS >>
image=”http://static.businessinsider.com/image/4e85ca4feab8ea804d000049″
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