These Athletes Have Lost Their Jobs And Their Millions
From Colin Kaepernick and Michael Vick to O.J. Simpson and Evander Holyfield, see the richest athletes in the world who are now broke on The Finance Chatter!
Muhsin Muhammad – Poor Spending Habits
Carolina Panthers
Muhsin “Moose” Muhammad, an NFL player who enjoyed a fruitful career on teams like the Chicago Bears and Carolina Panthers, proved to have far fewer skills when it came to credit card control. Reportedly, Muhammad ran his Visa Business Reward credit card so deep into debt that, believe it or not, Wachovia Bank actually sued him!
Afterward, the two-time Pro-Bowler had no choice but to sell out his house to pay off his debt, leaving him with a considerably less net worth than before. Eventually, and unlike most broke athletes, Muhammad managed to clean his finances up! He even co-founded Axum Capital Panthers, a private equity firm where he works today.
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