3. NFL players have very high bankruptcy rates
According to a study conducted by the National Bureau of Economic Research, nearly 16% of the players — which included everyone drafted from 1996 to 2003 — filed for bankruptcy within 12 years of retirement.
And in 2009, Sports Illustrated reported that “78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.”
The reasons: NFL careers are very short and end when players are still young, they get bad financial advice (and tend to ignore any good advice), and they’re often left disabled after years of brutal battle on the field.
source: ESPN
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