Warren Sapp, Michael Vick Just The Latest NFL Players To Go Broke And Bankrupt; But Why?

Oct 4, 2012 | Posted by: roboblogger | Full story: International Business Times

The news that former NFL star Warren Sapp has been ordered by a court to auction off his Florida mansion was met with less public shock and more of a resounding, "Meh." Sapp is just the latest retired athlete to have collected gargantuan paychecks during his career, only to squander it and have his financial woes splashed across headlines.

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1 - 13 of 13 Comments Last updated Nov 1, 2012
adunn4funn

Kansas City, MO

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#1
Oct 5, 2012
 

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Man y does it fascinate us what another person is worth damn haterism sure goes far Micheal Vick has been gettin dogged ever since be signed that first contract the name.of the is get your money he is obviously one of the best at it
Vick gettin dogged LOL

Miami, FL

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#2
Oct 5, 2012
 

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What fascinates me is how some dummies can blow through so much money in such little time.
steeler nation

Northampton, PA

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#3
Oct 5, 2012
 

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i don't get why vick is even part of this article . for 1, vick has a lot of extenuating circumstances that cost him millions and 2, he's got a contract and none of the other players mentioned have shit right now going into week 5. also, even if vick did spend 95% of what he's made since 2008, that remaining 5% is still way bigger than any average joe's bank acct with millions more on the way.
was this story not appealing enough without throwing the most controversial name in football into the mix when it didn't make sense ? pretty shitty journalism.
trollslayer

Markham, IL

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#4
Oct 6, 2012
 

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"Just The Latest NFL Players To Go Broke And Bankrupt; But Why?"

......this is a poorly,researched and written article. It fails to talk about the many leeches and unscrupulous lawyers / "financial advisors" who steal millions of $$$ from these athletes.

There's also no mention of all the athletes who end up suing these unscrupulous lawyers / "financial advisers"
Black Deal

Paige, TX

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#5
Oct 6, 2012
 

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trollslayer wrote:
"Just The Latest NFL Players To Go Broke And Bankrupt; But Why?"

......this is a poorly,researched and written article. It fails to talk about the many leeches and unscrupulous lawyers / "financial advisors" who steal millions of $$$ from these athletes.

There's also no mention of all the athletes who end up suing these unscrupulous lawyers / "financial advisers"
So what

These mfs weak as hell and cant manage shit
trollslayer

Chicago, IL

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#6
Oct 6, 2012
 

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there's a series on espncl ( 30 / 30) that's been recently talking about all the bad deals these players get involved based on bad financial advise. From Curt Schilling ( a former MLB pitcher to Sean Salisbury, former NFL and CFL quarterback).

Ninety % of these $$$loses come from crooked financial advisers...not partying & having a good time. Many of these agents have gone to jail for stealing $$ from these players.
Ron

Charlotte, NC

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#7
Oct 6, 2012
 

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trollslayer wrote:
"Just The Latest NFL Players To Go Broke And Bankrupt; But Why?"
......this is a poorly,researched and written article. It fails to talk about the many leeches and unscrupulous lawyers / "financial advisors" who steal millions of $$$ from these athletes.
There's also no mention of all the athletes who end up suing these unscrupulous lawyers / "financial advisers"
Before Vick got in trouble he was the highest paid QB in the NFL and for doing nothing and each year his game was getting worse and worse--only made the playoffs once in all those years--went through 4 QB coaches. Yet this guy was constantly being overhyped on the NFL channel and ESPN plus around Atlanta stations--so don't know what he had left for funds when he got in trouble. Vick hung out with a "posse" who were criminals. Some of those guys got 10 years to his 2 years. They were drug charges but because of Vick those charges were not pursued cause the investigation would take a lot longer. With that said which is really very brief and only touches a few facts --I will never understand what it is that Vick has always gotten special treatment more than any player ever in the NFL. Before and after his arrest.

Most of these guys do not have financial advisors and they manage their own money on their own. One player said you cannot live for today and live high and put all your eggs in one basket-you have to have a backup plan. Football players make less than basketball players. In the NFL their pay is often deducted if they are injured and out. All this is written in the contract where basketball is not that way--they get their money irregardless.
trollslayer

Chicago, IL

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#8
Oct 7, 2012
 

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Ron wrote:
<quoted text>
Before Vick got in trouble he was the highest paid QB in the NFL and for doing nothing and each year his game was getting worse and worse--only made the playoffs once in all those years--went through 4 QB coaches. Yet this guy was constantly being overhyped on the NFL channel and ESPN plus around Atlanta stations--so don't know what he had left for funds when he got in trouble. Vick hung out with a "posse" who were criminals. Some of those guys got 10 years to his 2 years. They were drug charges but because of Vick those charges were not pursued cause the investigation would take a lot longer. With that said which is really very brief and only touches a few facts --I will never understand what it is that Vick has always gotten special treatment more than any player ever in the NFL. Before and after his arrest.
Most of these guys do not have financial advisors and they manage their own money on their own. One player said you cannot live for today and live high and put all your eggs in one basket-you have to have a backup plan. Football players make less than basketball players. In the NFL their pay is often deducted if they are injured and out. All this is written in the contract where basketball is not that way--they get their money irregardless.
Vick had Mary Wong and David Talbot who mismanaged his money. She was also involved in a ponzi scheme. She ended up being sent to jail.

http://www.google.com/url...
__________

His career as a Qb is total separate issue. But take a look at his W-L record and total Td to INT. ratio. With the lack of talent & coaching in Atlanta they were darn lucky to beat GB in playoffs. But I'd prefer to stick with the topic of 'player financial issues".
Mark

Charlotte, NC

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#9
Oct 21, 2012
 

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trollslayer wrote:
<quoted text>
Vick had Mary Wong and David Talbot who mismanaged his money. She was also involved in a ponzi scheme. She ended up being sent to jail.
http://www.google.com/url...
__________
His career as a Qb is total separate issue. But take a look at his W-L record and total Td to INT. ratio. With the lack of talent & coaching in Atlanta they were darn lucky to beat GB in playoffs. But I'd prefer to stick with the topic of 'player financial issues".
Vick hired Wong after he was in trouble and had her illegally remove $900,000 from various accounts and to get some dogs and that she did for him but he found out she had defrauded people so he got rid of her and his brother Marcus introduced him to Talbot and he was to be paid $15,000 a month and took possession of his Mercedes but Vick learned he had defrauded church members. Vicks accounts were to be frozen when he hired these crooks to get his money and possessions.

His money was spent on his having several homes and keeping others --first his own family but also his friends and Vicks friends were of the criminal element. His own mother would not even visit his home in Atlanta because she was terrified of his friends. Or his "posse" as they were called. Vick blew his money and on illegal adventures.

When he was in trouble the owner of the Atl Falcons demanded a certain amount of money back --something around 10 mil. So when Vick was hired back the NFL managed his money and his creditors were to be paid and he got an allowance.

Because of Vicks high salary all NFL owners were advised and admonished about not paying new players top price until they proved their worth in the NFL. Vick will end up broke irregardless of what money he has earned. Just that while he is in the NFL they will keep him on a very short lease. No pun intended.
trollslayer

Munster, IN

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#10
Oct 21, 2012
 

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Mark wrote:
<quoted text>
Vick hired Wong after he was in trouble and had her illegally remove $900,000 from various accounts and to get some dogs and that she did for him but he found out she had defrauded people so he got rid of her and his brother Marcus introduced him to Talbot and he was to be paid $15,000 a month and took possession of his Mercedes but Vick learned he had defrauded church members. Vicks accounts were to be frozen when he hired these crooks to get his money and possessions.
His money was spent on his having several homes and keeping others --first his own family but also his friends and Vicks friends were of the criminal element. His own mother would not even visit his home in Atlanta because she was terrified of his friends. Or his "posse" as they were called. Vick blew his money and on illegal adventures.
When he was in trouble the owner of the Atl Falcons demanded a certain amount of money back --something around 10 mil. So when Vick was hired back the NFL managed his money and his creditors were to be paid and he got an allowance.
Because of Vicks high salary all NFL owners were advised and admonished about not paying new players top price until they proved their worth in the NFL. Vick will end up broke irregardless of what money he has earned. Just that while he is in the NFL they will keep him on a very short lease. No pun intended.
I'd like to see a link / and or outside source for this.

and this

"Vick hired Wong after he was in trouble and had her illegally remove $900,000 from various accounts and to get some dogs "
Mark

Charlotte, NC

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#11
Oct 30, 2012
 

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trollslayer wrote:
<quoted text>
I'd like to see a link / and or outside source for this.
and this
"Vick hired Wong after he was in trouble and had her illegally remove $900,000 from various accounts and to get some dogs "
This is all old news. Try wiki and google for the info. And newspapers where he lived. There were a lot of investigations into his life when he got in trouble. Several news shows did reporting on his life. I used to live in ATL when he played there and he was often seen with his thug posse around town. There were several churches tried to work with Vick and one very prominent man-Andrew Young who also was on tv and said he tried working with Vick for 5 years.

It just confuses me how some players are catered too and others are not. Pacman Jones was really not given the same treatment as Vick was and he was a better player. So when Pacman turned his life around one big mouth announcer mocked him and said he would never call him Adam. Yet he spoke praises of Vick. You had two players one open about who and what he was and the other sneaking and lying about who and what he was.
trollslayer

Munster, IN

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#12
Oct 30, 2012
 

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Mark wrote:
<quoted text>
This is all old news. Try wiki and google for the info. And newspapers where he lived. There were a lot of investigations into his life when he got in trouble. Several news shows did reporting on his life. I used to live in ATL when he played there and he was often seen with his thug posse around town. There were several churches tried to work with Vick and one very prominent man-Andrew Young who also was on tv and said he tried working with Vick for 5 years.
It just confuses me how some players are catered too and others are not. Pacman Jones was really not given the same treatment as Vick was and he was a better player. So when Pacman turned his life around one big mouth announcer mocked him and said he would never call him Adam. Yet he spoke praises of Vick. You had two players one open about who and what he was and the other sneaking and lying about who and what he was.
I try when ever possible to supply links for what I say. It's pretty obvious you don't like Vick no matter what he does moving forward. Which is ok...we get it. My point was not all athletes blow $$ partying....some just get flat out bad financial advice.
Voice of Reality

Petersburg, VA

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#13
Nov 1, 2012
 

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trollslayer wrote:
there's a series on espncl ( 30 / 30) that's been recently talking about all the bad deals these players get involved based on bad financial advise. From Curt Schilling ( a former MLB pitcher to Sean Salisbury, former NFL and CFL quarterback).
Ninety % of these $$$loses come from crooked financial advisers...not partying & having a good time. Many of these agents have gone to jail for stealing $$ from these players.
I am sure that you can name the agents who have gone to jail for stealing from these players?

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