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Professional athletes are making more money now than ever before. Unfortunately, many athletes have no experience managing such massive amounts of cash, so they often become the victims of unscrupulous parasites or live unsustainable lifestyles that eventually wipe out their finances. Here,NewsOne put together a list of seven pro-athletes who lost their fortunes to frivolous mistakes. These players can certainly be poster children for “Lifestyles of the Rich and Stupid”!




1) How is it that an NFL rookie signs a contract in 2006 for $26 million then five years later goes reportedly broke?  Vince Young (pictured) has proven that he possesses the financial savvy of a mental midget!  Should we really give a boo-hoo for a 29-year-old bottle-popper who allegedly dropped $5,000 a week at the Cheesecake Factory and once bought all of the seats on a Southwest Airline flight because he wanted to be alone?




2) Baller, shot caller Allen Iverson (pictured), who earned more than $154 million in salary alone and another $50 million in endorsement deals over his superstar playing career, has nowfallen in to hard times.  Reportedly, the man who was once referred to as “the Answer” apparently doesn’t have any answers as to why he is as broke as a joke. Iverson’s high-roller lifestyle included excessive jewelry-buying and splurging on sponging relatives and associates. His chief downfall, though, was gambling. At one point, it was so reportedly extreme that he was banished from casinos in Detroit and Atlantic City, New Jersey.

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