Football, Concussions, & Taxes

Maybe you have seen this popular statistic:

By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.

True or not, it is difficult to dispute the fact that many NFL players have a hard time after their football career is over.  One thing is certain — they are routinely getting into trouble with the IRS.  The most recent example is former Atlanta Falcon, Jamaal Anderson.  News sources say he has tax debt from 2007 and 2008 in the neighborhood of $1.1 million.  The IRS has filed a lien to protect the government’s interest in his property until he can pay back what he owes.

Football takes a huge toll on the body and these guys typically retire very young.  I don’t know if there are any formal studies on this type of thing, but I would guess many pro football players retire with tons of ambition, but insufficient business acumen and, who knows, maybe one too many concussions to be able to maintain the type of lifestyle they were used to while in their prime.

Any thoughts on this topic?

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