Tyler Cowen

NFL player bankruptcy

Blog Post created by Tyler Cowen on Dec 14, 2015

Originally posted on September 20, 2009.


The ever-excellent Mark Steckbeck offers up a quotation from Yahoo:

The 78 percent number (i.e., 78% of NFL players go bankrupt within two years of retirement) is buoyed by the fact that the average NFL career lasts just three years. So, figure a player gets drafted in 2009, signs for the minimum and lasts three years in the league: He will have earned about $1.2 million in salary. Factor in taxes, cost of living and the misguided belief that there will be more years and bigger paydays down the road, and it becomes a lot easier to see how so many players struggle with money after their careers end.