I’m sure when most of you read a story about a professional athlete filing for bankruptcy, you think the same thing I do: How in the hell could a millionaire athlete blow through all of their cash? SPORTS ILLUSTRATED looked into the matter and found two big problems: reckless spending and bad investments. Very, very bad investments.
How bad? How about an inflatable raft meant to go under your sofa so that if a flood came, you could float to safety on your sofa? Or a mouth guard that claims to increase your performance by setting your jaw in an “optimal position“? It seems that for every Magic Johnson, who parlayed the money made from his playing days into a business empire, there are scores of athletes making P.T. Barnum sound like a prophet.