Pro athletes often fumble the financial ball

By Russ Wiles, Arizona Republiclosing money

More than 200 college students will get a chance to become instant millionaires when the NFL holds its draft this week.But fast forward 20, 10 or just five years down the road, and many of this year’s crop of NFL rookies, like players before them, could end up broke. The financial rise and fall of professional athletes is one of those perplexing things that the other 99 percent just can’t understand: How can anyone blow through at least several hundred thousand dollars, and perhaps tens of millions of dollars, in a few years? Yet many pro athletes have done just that. You could compile an all-star team of players who wound up bankrupt or in financial distress. Read More….