retirement Archives - SportzBonanza SportzBonanza Mon, 01 May 2023 09:41:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 QB Philip Rivers Retires from NFL After 17-Year Career https://sportzbonanza.com/qb-philip-rivers-retires-from-nfl-after-17-year-career/ Sat, 23 Jan 2021 07:18:02 +0000 https://sportzbonanza.com/?p=15515 It’s always a special moment when a player who’s spent nearly two decades dedicating his or her life to a professional sports league, decides to throw a cap on everything and say goodbye. Such was the case with Philip Rivers, a quarterback who played 17 seasons in the NFL to great success. The majority of […]

The post QB Philip Rivers Retires from NFL After 17-Year Career appeared first on SportzBonanza.

]]>

It’s always a special moment when a player who’s spent nearly two decades dedicating his or her life to a professional sports league, decides to throw a cap on everything and say goodbye.

Such was the case with Philip Rivers, a quarterback who played 17 seasons in the NFL to great success.

The majority of those seasons—16 years of them, in fact—was spent playing for the Los Angeles Chargers, although they were called the San Diego Chargers throughout most of his time there.

He joined the Indianapolis Colts for his final season, and it was there that he decided to finally call it quits.

Although Rivers never won a Super Bowl, it’s clear to all NFL fans that he had an incredibly respectable career.

He was a Pro-Bowler eight times, led the Chargers to six divisional titles, and brought them to the AFC championship as well on one occasion.

After announcing his retirement, an emotional Rivers talked about his future: “As my playing career comes to an end, the next chapter begins,” he reflected.

In the next chapter of his life, Rivers will become the head coach for St. Michael Catholic High School in Fairhope, Alabama. He agreed to take this job as early as last year.

The post QB Philip Rivers Retires from NFL After 17-Year Career appeared first on SportzBonanza.

]]>
IF Mark Reynolds Announces Retirement After 13 Seasons https://sportzbonanza.com/if-mark-reynolds-announces-retirement-after-13-seasons/ Tue, 14 Apr 2020 05:40:00 +0000 https://stagingspb.wpengine.com/?p=11448 Veteran MLB infielder Mark Reynolds announced on SiriusXM Radio that his playing days are over after a productive thirteen year career. Reynolds, who debuted in the Major Leagues for the Arizona Diamondbacks in 2007 and last appeared last season with the Colorado Rockies, will hang up his cleats after recording 298 career home runs and […]

The post IF Mark Reynolds Announces Retirement After 13 Seasons appeared first on SportzBonanza.

]]>

Veteran MLB infielder Mark Reynolds announced on SiriusXM Radio that his playing days are over after a productive thirteen year career.

Reynolds, who debuted in the Major Leagues for the Arizona Diamondbacks in 2007 and last appeared last season with the Colorado Rockies, will hang up his cleats after recording 298 career home runs and 871 runs batted in.

When asked how things were going in his search for a new team in the radio interview on Thursday, Reynolds replied that he “has moved beyond that, (he’s) retired.”

The 36-year-old Kentucky native played collegiate baseball at the University of Virginia before being drafted by Arizona in the 16th round of the 2004 Draft.

He broke in with the big league team only a few years later and established himself as a power-hitting corner infield that played a key part in various playoff teams throughout his career despite his propensity for striking out.

Reynolds spent four seasons with the Diamondbacks before moving on to shorter stints with the Orioles, Indians, Yankees, Brewers, Cardinals, Rockies, and Nationals.

Some suspected that it might be tough for the slugger to find another job after a disappointing 2019 season in which he appeared in only 78 games for Colorado, hitting .170 with only 4 long balls.

So, Reynolds will now call it quits and move on to retirement after a lengthy and successful career.

The post IF Mark Reynolds Announces Retirement After 13 Seasons appeared first on SportzBonanza.

]]>
Dutch Legend Wesley Sneijder Retires https://sportzbonanza.com/dutch-legend-wesley-sneijder-retires/ Sat, 17 Aug 2019 05:45:28 +0000 https://stagingspb.wpengine.com/?p=8631 One of the best Dutch players in recent history, the 34-year-old Wesley Sneijder has decided to hang up his boots and retire from professional soccer. Sneijder signed a contract with FC Utrecht, the team from his home town until the end of the season but he will not play a single match in the following season.  A product […]

The post Dutch Legend Wesley Sneijder Retires appeared first on SportzBonanza.

]]>

One of the best Dutch players in recent history, the 34-year-old Wesley Sneijder has decided to hang up his boots and retire from professional soccer. Sneijder signed a contract with FC Utrecht, the team from his home town until the end of the season but he will not play a single match in the following season. 

A product of the Ajax Youth Academy, Sneijder made his first steps in the most popular club in The Netherlands, signing a trial contract with the club. He impressed the coaches and was given a permanent contract.

Sneijder made his debut for Ajax in 2003 against Willem II in a 6-0 win. In that very same year, Sneijder established himself in the first team, starting against AC Milan in the Champions League quarter-finals. 

He was sold to Real Madrid for a fee of $27 million in 2007, winning the La Liga title in his first season with the club, only to be sold to Inter Milan in 2009 for $15 million. That transfer to Inter made Sneijder one of the best midfielders after winning the Serie A, Italian Cup and the UEFA Champions League title in one season. 

The post Dutch Legend Wesley Sneijder Retires appeared first on SportzBonanza.

]]>
Former Giants’ WR Victor Cruz Announces His Retirement https://sportzbonanza.com/former-giants-wr-victor-cruz-announces-retirement/ Wed, 22 Aug 2018 05:35:07 +0000 https://stagingspb.wpengine.com/?p=4326 Wide receiver Victor Cruz decided to say goodbye to playing professional football and retire at age 31. Cruz, who hasn’t played an NFL game since 2016, announced his decision on Tuesday via a video posted on UNINTERRUPTED’s YouTube channel. In the video, Cruz also reveals that he won’t leave NFL anytime soon having accepted an […]

The post Former Giants’ WR Victor Cruz Announces His Retirement appeared first on SportzBonanza.

]]>

Wide receiver Victor Cruz decided to say goodbye to playing professional football and retire at age 31. Cruz, who hasn’t played an NFL game since 2016, announced his decision on Tuesday via a video posted on UNINTERRUPTED’s YouTube channel.

In the video, Cruz also reveals that he won’t leave NFL anytime soon having accepted an analyst job with ESPN.

As I officially close one chapter of my life and begin another, I could not be more thrilled to join another championship team at ESPN,” – said Cruz in a statement. “I’m excited to get started and share my insight and analysis with the viewers and fans of the NFL.”

Victor Cruz signed with the New York Giants as an undrafted free agent in 2010 and went on to be an essential piece for the team between 2011 and 2013. In 2011 he had 1,536 yards and nine touchdowns in the regular season while adding 269 yards and a touchdown in Giants’ road to Super Bowl win that season.

Cruz continued with great games in the following two years, but then his production started slipping due to various injuries. Following mediocre 2016 season, Giants decided to release him, and he signed with the Chicago Bears in May 2017. After spending less than three months with the team, Cruz was released by the Bears and hasn’t played football since.

The post Former Giants’ WR Victor Cruz Announces His Retirement appeared first on SportzBonanza.

]]>
These 5 Professional Athletes Ended Up Being More Successful In Retirement https://sportzbonanza.com/these-5-professional-athletes-ended-up-being-more-successful-in-retirement/ Thu, 17 Aug 2017 13:01:04 +0000 http://stagingspb.wpengine.com/?p=395 Is it really that surprising that many athletes go on to have even more fruitful post-sports careers? After all, to become a successful pro athlete is not just a physical endeavor. It requires inhuman discipline, focus, strategy, and oftentimes, pure savvy, all skills which translate wonderfully to the business world. Success is just a natural […]

The post These 5 Professional Athletes Ended Up Being More Successful In Retirement appeared first on SportzBonanza.

]]>

Is it really that surprising that many athletes go on to have even more fruitful post-sports careers? After all, to become a successful pro athlete is not just a physical endeavor. It requires inhuman discipline, focus, strategy, and oftentimes, pure savvy, all skills which translate wonderfully to the business world.

Success is just a natural part of life when you’re a demigod who’s good at everything.

Mario Lemieux

For Mario Lemieux, the game of hockey is the gift that just keeps on giving. There are very few athletes that can claim to have dominated their sport quite as thoroughly as this superstar on skates. While his wildly successful career as an NHL hockey player led to him to earn back-t0-back Stanley Cup wins for the Pittsburgh Penguins, the victories continued long after “Super Mario” hung up his skates for good. How so, you ask? In retirement, he bought the team, rescued it from financial distress, and eventually led them to claim a third championship title in 2009.

How so, you ask? In retirement, he bought the team, rescued it from financial distress, and eventually led them to claim a third championship title in 2009.


Wikimedia Commons

Charles Barkley

Charles Barkley never earned a championship ring during his long (and otherwise successful) career in professional basketball, though you wouldn’t know it based on how much press coverage the “Round Mound of Rebound” still receives today.Whether he is making headlines for his brazen political commentary or his hilariously inept golf swing, the broadcaster, author, spokesperson, and 11-time NBA All-Star always manages to maintain the same coziness with publicity that he was known for decades ago. It’s as though retirement only makes Barkley busier!

Whether he is making headlines for his brazen political commentary or his hilariously inept golf swing, the broadcaster, author, spokesperson, and 11-time NBA All-Star always manages to maintain the same coziness with publicity that he was known for decades ago. It’s as though retirement only makes Barkley busier!


Wikimedia Commons

Vinnie Jones

In his native England, Vinnie Jones is known as the soccer sensation that dominated the field all throughout the late 20th century. Across the pond, the ball-playing bloke is known for his work in an entirely different (though equally glamorized) industry: acting.

“Hard Man” Jones retired from professional soccer in 1999 following a long career of leading teams, winning championships, and head-butting men in the testicles in pursuit of victory. The former athlete then moved to the United States, where his interest in the silver screen soon led to him appearing in a wide variety of films, including such recognizable titles as X-Men: The Last Stand and Juggernaut.


Flickr

Gerald Ford

Yes, you read that correctly: The Gerald Ford really qualifies as an item on this list. Before taking on the fun little retirement gig of becoming the leader of the free world (amongst other diplomatic achievements), Mr. Ford was making national headlines for a completely different reason: he was a college football superstar.

Though he never made to the professional level, the diplomatic linebacker led the University of Michigan to two consecutive national championships during his time as a student, prompting the school to eventually retire his number. The never-ending adoration was mutual, and Ford remained a notorious supporter of the team all throughout his presidency.


Wikimedia Commons

Hakeem Olajuwon

During his time in the NBA, soft-hearted superstar Hakeem Olajuwon was nicknamed “The Dream” for his demeanor on and off the court (though the simplified spelling probably helped too).

While others in his position may have seen retirement as a wake-up call, Olajuwon’s separation from the sport only led him to an even more dreamlike existence: real estate. Sure, it seems hard to believe that buying and selling high-end Houston homes could possibly be as glamorous as being an NBA All-Star, but the $100 million fortune Olajuwon has amassed through his practice is truly the stuff of fairy tales.


Wikimedia Commons

The post These 5 Professional Athletes Ended Up Being More Successful In Retirement appeared first on SportzBonanza.

]]>
Riches To Rags: Why So Many NFL Players Go Broke https://sportzbonanza.com/riches-to-rags-why-so-many-nfl-players-go-broke-2/ Tue, 15 Aug 2017 13:01:51 +0000 http://stagingspb.wpengine.com/?p=390 With player contracts worth millions and lucrative endorsement deals on top of that, most of us wonder why it seems that so many NFL players end their careers without a dime to show for their time in the spotlight. As recently as 2015, research has shown that close to 80% of NFL players go bankrupt. […]

The post Riches To Rags: Why So Many NFL Players Go Broke appeared first on SportzBonanza.

]]>

With player contracts worth millions and lucrative endorsement deals on top of that, most of us wonder why it seems that so many NFL players end their careers without a dime to show for their time in the spotlight.

As recently as 2015, research has shown that close to 80% of NFL players go bankrupt.

When a former player loses it all, the story makes headlines, but the underlying reasons might surprise even the most ardent fan.


Flickr

Not Everyone Gets Rich Quick

In the first place, all NFL players are not paid the same, and most players don’t make as much as you think. The minimum salary for a rookie is $450,000 per year, and the majority of players are paid closer to that figure. Since the average length of an NFL career is 3-4 years, a minimum-salary player makes around $2 million over the course of his entire career, far less than the headline-making marquis players might make per game.


Pixabay

Bad Money Managers

Often a lack of comprehensive money sense and guidance can also contribute to a player’s financial downfall. Like most college grads, players rarely have training in financial planning, taxes, budgeting and long-term investment.

Given that many of these athletes are seeing large sums of money for the first time, they are even more at risk for frivolous spending or, even worse, placing their financial decisions into the hands of unskilled or unscrupulous managers they assume will direct them away from serious money mistakes. By abdicating or ignoring their responsibilities, they set themselves up to see a zero-balance in their futures.

Life Gives You Leeches

While there is the noble impulse to use their new windfall to support family and friends, the sad truth is that appeasing the demands of this group – one that often grows larger after the player finds success – can very quickly leave him penniless.

Lavish gifts, new homes, fancy cars, it adds up quickly. In addition, as a young player makes a name for himself, new sexual opportunities arise. Many current and former NFL players find themselves paying out large sums in child support to multiple women.

There is also the threat of divorce to contend with; absent a prenuptial agreement, athletes can find that ending a marriage may end up costing them more than half of their income.


Pixabay

Life After Football Is Rough

Lastly, players are rarely encouraged to prepare for their second act. No one talks to them about the future. Some players are drafted into the league before they have completed their college education; some before they finish high school. When football ends, they have no degree or other practical experience to fall back on.

They may also be facing a lifetime of heavy medical expenses; even short careers in the NFL take a serious toll on the body. Joint, bone and muscle damage require expensive treatment, and compromised health can further limit the types of jobs a former player may be able to take on later in life.

The NFL has programs and classes in place to try to assist players in taking control of their finances and futures, but since the education is only suggested, not mandatory, there will continue to be football stars who flame out financially when it’s all over.

The post Riches To Rags: Why So Many NFL Players Go Broke appeared first on SportzBonanza.

]]>
ersion="1.0" encoding="UTF-8"?> retirement Archives - SportzBonanza SportzBonanza Mon, 01 May 2023 09:41:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 QB Philip Rivers Retires from NFL After 17-Year Career https://sportzbonanza.com/qb-philip-rivers-retires-from-nfl-after-17-year-career/ Sat, 23 Jan 2021 07:18:02 +0000 https://sportzbonanza.com/?p=15515 It’s always a special moment when a player who’s spent nearly two decades dedicating his or her life to a professional sports league, decides to throw a cap on everything and say goodbye. Such was the case with Philip Rivers, a quarterback who played 17 seasons in the NFL to great success. The majority of […]

The post QB Philip Rivers Retires from NFL After 17-Year Career appeared first on SportzBonanza.

]]>

It’s always a special moment when a player who’s spent nearly two decades dedicating his or her life to a professional sports league, decides to throw a cap on everything and say goodbye.

Such was the case with Philip Rivers, a quarterback who played 17 seasons in the NFL to great success.

The majority of those seasons—16 years of them, in fact—was spent playing for the Los Angeles Chargers, although they were called the San Diego Chargers throughout most of his time there.

He joined the Indianapolis Colts for his final season, and it was there that he decided to finally call it quits.

Although Rivers never won a Super Bowl, it’s clear to all NFL fans that he had an incredibly respectable career.

He was a Pro-Bowler eight times, led the Chargers to six divisional titles, and brought them to the AFC championship as well on one occasion.

After announcing his retirement, an emotional Rivers talked about his future: “As my playing career comes to an end, the next chapter begins,” he reflected.

In the next chapter of his life, Rivers will become the head coach for St. Michael Catholic High School in Fairhope, Alabama. He agreed to take this job as early as last year.

The post QB Philip Rivers Retires from NFL After 17-Year Career appeared first on SportzBonanza.

]]>
IF Mark Reynolds Announces Retirement After 13 Seasons https://sportzbonanza.com/if-mark-reynolds-announces-retirement-after-13-seasons/ Tue, 14 Apr 2020 05:40:00 +0000 https://stagingspb.wpengine.com/?p=11448 Veteran MLB infielder Mark Reynolds announced on SiriusXM Radio that his playing days are over after a productive thirteen year career. Reynolds, who debuted in the Major Leagues for the Arizona Diamondbacks in 2007 and last appeared last season with the Colorado Rockies, will hang up his cleats after recording 298 career home runs and […]

The post IF Mark Reynolds Announces Retirement After 13 Seasons appeared first on SportzBonanza.

]]>

Veteran MLB infielder Mark Reynolds announced on SiriusXM Radio that his playing days are over after a productive thirteen year career.

Reynolds, who debuted in the Major Leagues for the Arizona Diamondbacks in 2007 and last appeared last season with the Colorado Rockies, will hang up his cleats after recording 298 career home runs and 871 runs batted in.

When asked how things were going in his search for a new team in the radio interview on Thursday, Reynolds replied that he “has moved beyond that, (he’s) retired.”

The 36-year-old Kentucky native played collegiate baseball at the University of Virginia before being drafted by Arizona in the 16th round of the 2004 Draft.

He broke in with the big league team only a few years later and established himself as a power-hitting corner infield that played a key part in various playoff teams throughout his career despite his propensity for striking out.

Reynolds spent four seasons with the Diamondbacks before moving on to shorter stints with the Orioles, Indians, Yankees, Brewers, Cardinals, Rockies, and Nationals.

Some suspected that it might be tough for the slugger to find another job after a disappointing 2019 season in which he appeared in only 78 games for Colorado, hitting .170 with only 4 long balls.

So, Reynolds will now call it quits and move on to retirement after a lengthy and successful career.

The post IF Mark Reynolds Announces Retirement After 13 Seasons appeared first on SportzBonanza.

]]>
Dutch Legend Wesley Sneijder Retires https://sportzbonanza.com/dutch-legend-wesley-sneijder-retires/ Sat, 17 Aug 2019 05:45:28 +0000 https://stagingspb.wpengine.com/?p=8631 One of the best Dutch players in recent history, the 34-year-old Wesley Sneijder has decided to hang up his boots and retire from professional soccer. Sneijder signed a contract with FC Utrecht, the team from his home town until the end of the season but he will not play a single match in the following season.  A product […]

The post Dutch Legend Wesley Sneijder Retires appeared first on SportzBonanza.

]]>

One of the best Dutch players in recent history, the 34-year-old Wesley Sneijder has decided to hang up his boots and retire from professional soccer. Sneijder signed a contract with FC Utrecht, the team from his home town until the end of the season but he will not play a single match in the following season. 

A product of the Ajax Youth Academy, Sneijder made his first steps in the most popular club in The Netherlands, signing a trial contract with the club. He impressed the coaches and was given a permanent contract.

Sneijder made his debut for Ajax in 2003 against Willem II in a 6-0 win. In that very same year, Sneijder established himself in the first team, starting against AC Milan in the Champions League quarter-finals. 

He was sold to Real Madrid for a fee of $27 million in 2007, winning the La Liga title in his first season with the club, only to be sold to Inter Milan in 2009 for $15 million. That transfer to Inter made Sneijder one of the best midfielders after winning the Serie A, Italian Cup and the UEFA Champions League title in one season. 

The post Dutch Legend Wesley Sneijder Retires appeared first on SportzBonanza.

]]>
Former Giants’ WR Victor Cruz Announces His Retirement https://sportzbonanza.com/former-giants-wr-victor-cruz-announces-retirement/ Wed, 22 Aug 2018 05:35:07 +0000 https://stagingspb.wpengine.com/?p=4326 Wide receiver Victor Cruz decided to say goodbye to playing professional football and retire at age 31. Cruz, who hasn’t played an NFL game since 2016, announced his decision on Tuesday via a video posted on UNINTERRUPTED’s YouTube channel. In the video, Cruz also reveals that he won’t leave NFL anytime soon having accepted an […]

The post Former Giants’ WR Victor Cruz Announces His Retirement appeared first on SportzBonanza.

]]>

Wide receiver Victor Cruz decided to say goodbye to playing professional football and retire at age 31. Cruz, who hasn’t played an NFL game since 2016, announced his decision on Tuesday via a video posted on UNINTERRUPTED’s YouTube channel.

In the video, Cruz also reveals that he won’t leave NFL anytime soon having accepted an analyst job with ESPN.

As I officially close one chapter of my life and begin another, I could not be more thrilled to join another championship team at ESPN,” – said Cruz in a statement. “I’m excited to get started and share my insight and analysis with the viewers and fans of the NFL.”

Victor Cruz signed with the New York Giants as an undrafted free agent in 2010 and went on to be an essential piece for the team between 2011 and 2013. In 2011 he had 1,536 yards and nine touchdowns in the regular season while adding 269 yards and a touchdown in Giants’ road to Super Bowl win that season.

Cruz continued with great games in the following two years, but then his production started slipping due to various injuries. Following mediocre 2016 season, Giants decided to release him, and he signed with the Chicago Bears in May 2017. After spending less than three months with the team, Cruz was released by the Bears and hasn’t played football since.

The post Former Giants’ WR Victor Cruz Announces His Retirement appeared first on SportzBonanza.

]]>
These 5 Professional Athletes Ended Up Being More Successful In Retirement https://sportzbonanza.com/these-5-professional-athletes-ended-up-being-more-successful-in-retirement/ Thu, 17 Aug 2017 13:01:04 +0000 http://stagingspb.wpengine.com/?p=395 Is it really that surprising that many athletes go on to have even more fruitful post-sports careers? After all, to become a successful pro athlete is not just a physical endeavor. It requires inhuman discipline, focus, strategy, and oftentimes, pure savvy, all skills which translate wonderfully to the business world. Success is just a natural […]

The post These 5 Professional Athletes Ended Up Being More Successful In Retirement appeared first on SportzBonanza.

]]>

Is it really that surprising that many athletes go on to have even more fruitful post-sports careers? After all, to become a successful pro athlete is not just a physical endeavor. It requires inhuman discipline, focus, strategy, and oftentimes, pure savvy, all skills which translate wonderfully to the business world.

Success is just a natural part of life when you’re a demigod who’s good at everything.

Mario Lemieux

For Mario Lemieux, the game of hockey is the gift that just keeps on giving. There are very few athletes that can claim to have dominated their sport quite as thoroughly as this superstar on skates. While his wildly successful career as an NHL hockey player led to him to earn back-t0-back Stanley Cup wins for the Pittsburgh Penguins, the victories continued long after “Super Mario” hung up his skates for good. How so, you ask? In retirement, he bought the team, rescued it from financial distress, and eventually led them to claim a third championship title in 2009.

How so, you ask? In retirement, he bought the team, rescued it from financial distress, and eventually led them to claim a third championship title in 2009.


Wikimedia Commons

Charles Barkley

Charles Barkley never earned a championship ring during his long (and otherwise successful) career in professional basketball, though you wouldn’t know it based on how much press coverage the “Round Mound of Rebound” still receives today.Whether he is making headlines for his brazen political commentary or his hilariously inept golf swing, the broadcaster, author, spokesperson, and 11-time NBA All-Star always manages to maintain the same coziness with publicity that he was known for decades ago. It’s as though retirement only makes Barkley busier!

Whether he is making headlines for his brazen political commentary or his hilariously inept golf swing, the broadcaster, author, spokesperson, and 11-time NBA All-Star always manages to maintain the same coziness with publicity that he was known for decades ago. It’s as though retirement only makes Barkley busier!


Wikimedia Commons

Vinnie Jones

In his native England, Vinnie Jones is known as the soccer sensation that dominated the field all throughout the late 20th century. Across the pond, the ball-playing bloke is known for his work in an entirely different (though equally glamorized) industry: acting.

“Hard Man” Jones retired from professional soccer in 1999 following a long career of leading teams, winning championships, and head-butting men in the testicles in pursuit of victory. The former athlete then moved to the United States, where his interest in the silver screen soon led to him appearing in a wide variety of films, including such recognizable titles as X-Men: The Last Stand and Juggernaut.


Flickr

Gerald Ford

Yes, you read that correctly: The Gerald Ford really qualifies as an item on this list. Before taking on the fun little retirement gig of becoming the leader of the free world (amongst other diplomatic achievements), Mr. Ford was making national headlines for a completely different reason: he was a college football superstar.

Though he never made to the professional level, the diplomatic linebacker led the University of Michigan to two consecutive national championships during his time as a student, prompting the school to eventually retire his number. The never-ending adoration was mutual, and Ford remained a notorious supporter of the team all throughout his presidency.


Wikimedia Commons

Hakeem Olajuwon

During his time in the NBA, soft-hearted superstar Hakeem Olajuwon was nicknamed “The Dream” for his demeanor on and off the court (though the simplified spelling probably helped too).

While others in his position may have seen retirement as a wake-up call, Olajuwon’s separation from the sport only led him to an even more dreamlike existence: real estate. Sure, it seems hard to believe that buying and selling high-end Houston homes could possibly be as glamorous as being an NBA All-Star, but the $100 million fortune Olajuwon has amassed through his practice is truly the stuff of fairy tales.


Wikimedia Commons

The post These 5 Professional Athletes Ended Up Being More Successful In Retirement appeared first on SportzBonanza.

]]>
Riches To Rags: Why So Many NFL Players Go Broke https://sportzbonanza.com/riches-to-rags-why-so-many-nfl-players-go-broke-2/ Tue, 15 Aug 2017 13:01:51 +0000 http://stagingspb.wpengine.com/?p=390 With player contracts worth millions and lucrative endorsement deals on top of that, most of us wonder why it seems that so many NFL players end their careers without a dime to show for their time in the spotlight. As recently as 2015, research has shown that close to 80% of NFL players go bankrupt. […]

The post Riches To Rags: Why So Many NFL Players Go Broke appeared first on SportzBonanza.

]]>

With player contracts worth millions and lucrative endorsement deals on top of that, most of us wonder why it seems that so many NFL players end their careers without a dime to show for their time in the spotlight.

As recently as 2015, research has shown that close to 80% of NFL players go bankrupt.

When a former player loses it all, the story makes headlines, but the underlying reasons might surprise even the most ardent fan.


Flickr

Not Everyone Gets Rich Quick

In the first place, all NFL players are not paid the same, and most players don’t make as much as you think. The minimum salary for a rookie is $450,000 per year, and the majority of players are paid closer to that figure. Since the average length of an NFL career is 3-4 years, a minimum-salary player makes around $2 million over the course of his entire career, far less than the headline-making marquis players might make per game.


Pixabay

Bad Money Managers

Often a lack of comprehensive money sense and guidance can also contribute to a player’s financial downfall. Like most college grads, players rarely have training in financial planning, taxes, budgeting and long-term investment.

Given that many of these athletes are seeing large sums of money for the first time, they are even more at risk for frivolous spending or, even worse, placing their financial decisions into the hands of unskilled or unscrupulous managers they assume will direct them away from serious money mistakes. By abdicating or ignoring their responsibilities, they set themselves up to see a zero-balance in their futures.

Life Gives You Leeches

While there is the noble impulse to use their new windfall to support family and friends, the sad truth is that appeasing the demands of this group – one that often grows larger after the player finds success – can very quickly leave him penniless.

Lavish gifts, new homes, fancy cars, it adds up quickly. In addition, as a young player makes a name for himself, new sexual opportunities arise. Many current and former NFL players find themselves paying out large sums in child support to multiple women.

There is also the threat of divorce to contend with; absent a prenuptial agreement, athletes can find that ending a marriage may end up costing them more than half of their income.


Pixabay

Life After Football Is Rough

Lastly, players are rarely encouraged to prepare for their second act. No one talks to them about the future. Some players are drafted into the league before they have completed their college education; some before they finish high school. When football ends, they have no degree or other practical experience to fall back on.

They may also be facing a lifetime of heavy medical expenses; even short careers in the NFL take a serious toll on the body. Joint, bone and muscle damage require expensive treatment, and compromised health can further limit the types of jobs a former player may be able to take on later in life.

The NFL has programs and classes in place to try to assist players in taking control of their finances and futures, but since the education is only suggested, not mandatory, there will continue to be football stars who flame out financially when it’s all over.

The post Riches To Rags: Why So Many NFL Players Go Broke appeared first on SportzBonanza.

]]>