The list of athletes who lost huge sums of money after their playing days ended is long. Evander Holyfield may have been fearsome in the ring, but that didn’t stop him from nearly losing his house in 2008. Jose Canseco was a force to be reckoned with when he played major league baseball, but after his steroid use was made public the money dried up and he had to resort to reality TV gigs to keep the bills paid.
For many athletes who lose their former earning power, it’s not just the paychecks and the prestige that go away, it’s the stuff. The cars, the jewelry, and the admiration of the fans often disappear and, most painfully, sometimes the houses do, too.
Many athletes spent their signing bonuses on huge mansions with extravagant amenities. When they couldn’t keep up with the mortgage payments they were faced with foreclosure, like so many others during the housing crisis.
Who are some of the major athletes who have faced foreclosure? Click ahead to find out.
By Daniel Bukszpan
Posted 22 September 2011