These Basketball Stars Were Once Millionaires, But This Is All They Have Left

From Dennis Rodman and Michael Vick to O.J. Simpson and Derrick Coleman, see the richest athletes in the world who are now broke!

Derrick Coleman – Many Failed Businesses

NJ.com

Derrick Coleman began his professional NBA career after New Jersey Jets drafted him in 1990. Since he earned tens of millions during his 15-year playing career, its hard to imagine Coleman going broke. However, he decided to invest heavily after retirement in real estate and other business ventures in Detroit – a hit hard by the Great Recession. As a result, they almost all backfired.

In 2010, Coleman ended up filing for bankruptcy. In his filing, the NBA star listed $4.7 million worth of debt, with assets of just $1 million. The debt came from stakes in a Detroit hotel, a doughnut shop, and local pizza place. Fortunately, Coleman earns a $90,000 annual pension from the NBA that bankruptcy can’t touch!

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