Essay about Becoming A Normality Among Sports Culture

Essay about Becoming A Normality Among Sports Culture

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Bankruptcy has become a normality among sports culture. A young athlete signs a multi-million-dollar contact, they play the sport they love, they retire (or are cut), then their spending habits catch up to them and eventually leading to bankruptcy. Over and over this has been the case for hundreds of former professional athletes. The bankruptcy phenomena has become the identity for a plethora of athletes, like of once great sport icons, such as Mike Tyson and Vince Young. Many people have forgotten about their accomplishments in their respective sports because they are now in the shadow of their money troubles. It seems as if it is not a matter of if an athlete will go bankrupt, rather, it is a matter of when they will. But why does this have to be the case? What is the causation and correlation of the repeated bankruptcy among athletes? Why do they seemingly just throw their money away when it could be put toward great causes? Just a few reasons for this phenomena are that these athletes lack higher education, have little to no money management skills, and they feel that they must repay everyone who has ever helped them. These athletes should be “investing in their future, not their fame” (Graves 6).
Higher education is a key facet that many professional sports athletes lack. Not all, but a large number of professional athletes lack this needed higher education. Think, they have multi-million dollar contracts being waved in front of their faces, why would these young adults stay in school when they can become instant millionaires? In Pablo Torres’ Sports Illustrated entry, “How (and Why) Athletes Go Broke,” Raghib Ismail, a former number one NFL draft picked states that “[He] once had a meeting with J.P. Morgan and it was litera...


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... make is more than enough to sustain an easy lifestyle for the rest of their lives if managed properly. Not only should they be able to live comfortable they have more than enough money to better the community around them on top of that
The amount of money that professional athletes make throughout their career is mind-boggling. They make more money than the majority of Americans will make during their entire lives. Yet even with that being the case, why do so many of these stars go broke? Due to lack of education, poor to no money management skills, and the feeling that they must repay everyone whole has ever helped them are just a few reasons many athletes tend to go bankrupt shortly after retirement. Numerous things are to blame for this reoccurring theme among professional athletes; however, when it all boils down, stupidity plays a huge role in the issue (Erik).

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