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Players that file for bankruptcy

Spikey

Spikey

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The latest victim of this was NHL star Evander Kane he filed for bankruptcy the other day. I don't see how this can happen to sports players, they make millions of dollars. They must be losing their money to gambling. They've already had so much money why would they need to gamble? I would find it hard to blow through 5 million dollars.
Whats your reasoning for why some players file for bankruptcy?
 
PGen98

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The only one that sort of makes sense to me is Jack Johnson, because his parents absolutely wiped him clean. As for guys like Evander Kane...I don't know how he got to the point of bankruptcy. It boggles the mind considering the money he makes.
 
Alexandoy

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Excuse me if this it out of football. What I remember are boxers Joe Louis and Mike Tyson. Both of them were great champions that earned so much money but still they suffered bankruptcy. With Tyson it was said that he was really squandering his money like an irresponsible child who buys on a whim. Maybe there should be a finance coach when someone becomes a rags-to-riches story to avoid bankruptcy.
 

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