Some professional athletes sign a contract that make them millionaires in one year alone. So with money like that coming in you would expect them to have plenty of money and to live a good life and never have money problems. You would be shocked with how many professional athletes are broke and have to file for bankruptcy. The 30 for 30 documentary Broke really opened my eyes up to professional athletes being broke. According to the documentary “By the time they have been retired for two years, 78% of former National Football League players have gone bankrupt or are under financial stress…” and also “Within five years of retirement, an estimated 60% of former National Basketball Association players are broke.” These statistics may be unbelievable …show more content…
The average Major League Baseball in 1967 was around nineteen thousand. The documentary addresses some major points of where it all goes and what happens. The major point the documentary hits on are: Parents repayment, Investments, Agents, Financial Advisors, Family and friend problems, Opposite Sex, Injuries and Medical expenses. In the documentary almost every athlete stated when they first got their money they wanted to buy their mom and dad a house, or a vehicle, or something that would say thank you for raising me and helping me the whole time. Now the house and car may not be too expensive to the athlete at first but it adds up with all of the other problems that were in the documentary. Another problem the athletes had were spending a lot of money of clothes and jewelry. There was one man in documentary that went on to say they would spend fifty thousand dollars on suits and nice clothes. On other occasions they would buy jewelry to compete with each other, because they are athletes they are naturally competitive. At one point it was said that they possibly spent up to a million dollars on