Why Professional Athletes Go Broke (It’s Not What You Think)

Sports Illustrated reports the grim statistics — 78 percent of NFL players face bankruptcy or serious financial stress within just two years of leaving the game and 60 percent of NBA players face the same dire results in five years.  While the statistics are not in dispute, the reasons why so many athletes face financial problems are.  Often it boils down to the “dumb jock” stereotype, but this is not a valid or useful explanation of why so many professional athletes end up broke.

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