Posted on 05/23/2024 5:38:21 AM PDT by Red Badger
Brown claims his assets are worth just $50,000 or less, according to court documents
Former NFL star wide receiver Antonio Brown has filed for bankruptcy. According to the Times Union, Brown owes nearly $3 million to eight different creditors as stated by paperwork filed on May 15 in the U.S. Bankruptcy Court of the Southern District of Florida. He reportedly filed for Chapter 11 bankruptcy, which involves the court-supervised reorganization of a debtor's assets and liabilities.
That amount includes a $1.2 million court judgment to Anton Tumanov -- a moving-truck driver who sued Brown for assault and battery during an altercation in 2020. It also includes money owed on a credit card, a marketing firm and a law firm, among other debts.
Brown's own media company, CTESPN Network confirmed the bankruptcy filing via social media earlier this week.
"NFL legend Antonio Brown has filed for bankruptcy today," the post read. "He will be a first ballot Hall of Famer in 2027. He will be releasing new music this summer. He is also the founder of the most trusted source in all of sports.
"The generational run continues."
BREAKING NEWS #CTESPN 💸
NFL legend Antonio Brown has filed bankruptcy today
He will be a first ballot hall of famer in 2027. He will be releasing new music this summer.
He is also the founder of the most trusted source in all of sports.
The generational run continues 📈 pic.twitter.com/DWmxw13uqa
— CTESPNNetwork (@CtespnN) May 20, 2024 Brown was drafted by the Steelers in the sixth round of the 2010 NFL Draft and spent most of his 12-year career in Pittsburgh. He saw a lot of success as a seven-time Pro-Bowler and even won a Super Bowl ring with the Tampa Bay Buccaneers in 2021. However, Brown has not been back on the field since 2022, when he took off his shirt and left in the middle of a game against the New York Jets.
Brown made over $88 million as a player, but he currently claims he has less than $50,000 in assets.
Bingo some people find out to late stupidity comes with a very high cost.
But they get a free t-shirt with CHUMP printed on it.
Supposedly Marshawn Lynch only lived off his endorsement money and socked away his NFL salary.
Another smart one was Jamal Mashburn. Per wikipedia:
Since retiring from basketball, Mashburn has worked for ESPN as an analyst and launched a number of successful business ventures. As of 2018, he owned over 90 businesses, including 34 Outback Steakhouse franchises, 37 Papa John’s franchises, and a number of car dealerships across the state of Kentucky.[12][13] Mashburn is a partner in Ol Memorial Stable, along with former Kentucky coach Rick Pitino and Outback Steakhouse co-founder Chris T. Sullivan, which owns Kentucky Derby prospect Buffalo Man.[14]
It’s not really.
Really. You’d think the pimps and his dealer would have got payment one way or another and they still might. How one gets that far down the hole is nothing but idiocy.
Rob Gronkowski is another one. He never cashed his game checks, just lived off of endorsements.
He’s set for life..
Over a decade ago, one of our NFL teams “stars” bought his fiancee a $750K pair of earrings, which become public news and shocked people at the time, but whatever - its what NFL players do
They were married a year or two, then divorced. He too went bankrupt.
There was fight over the earrings and other assets as part of the divorce settlement. They were valued by the court at something like $100K
11 million.
$11,000,000 x 5 percent interest.
He'd be raking in $550,000 a year, without considering compounding interest.
Screw him.
I thought “Chapter 11” was only for businesses?
NFL players salaries are huge, but they don’t get all of it.
In addition to the Federal income tax and Medicare and Social Security taxes, they pay taxes in every state they play a game in on their salary for that game, not to count their home state’s taxes.
Plus Union Dues to the Player’s Association and NFL Charities contributions, plus their fines for infractions during the games.
But still it’s a lot of money they have to spend.
They usually buy ‘Momma’ a big mansion that they cannot afford the taxes on after their careers are over.
At a former workplace of mine, a woman had a son that was drafted by the NBA.
First thing he did was buy his momma a new BMW..................
He’s probably all tied up in LLC’s.....................
He’s not a first ballot HOFer. He poisoned too many wells. They’ll hold him back at least 1 year in punishment. If they put him in at all. Thanks to the way his bad behavior shortened his career he doesn’t really have the stats.
MAYBE he needed to be a big fish in a little pond from the beginning.
Probably should have dialed it back even further. :)
Out of that $88 Mill you can knock of about 50% to all the different governments right off the top.
That’s still $44 million left to party!....................
We once had a youngish black NFL player originally from the deep south in our mid-states neighborhood, and our kids played together. I was wary of him at first; but he and his wife were born-again Christians who shunned the party culture, and they were great neighbors. After an injury, he got a job as a coach at a private high school. Just a really settled-down guy, and God bless him.
Phillip Rivers, a former NFL QB is a HS coach in Foley, Al near here...........
There are so many things they could do. Coaching, sports equipment stores, restaurants, youth empowerment leagues — requires a different skill set. But a massive amount of educational options are available. They need the mentality to accept their responsibilty as role models.
The League needs to have ongoing classroom requirements for the players’ practical side of living. They pluck these kids out of ghettos, overwhelm them with money and fame, make huge amounts of money off of them, and care nothing for their inner selves or long-term survival as men, fathers and citizens.
Roger Staubach's best year in the NFL was about $150,000. Staubach is worth about $600 million today due to smart investing (mostly in real estate) and eventually selling his firm, The Staubach Company, to the Jones Lang LaSalle Partnership.
That doesn't happen by accident. It was the result of smart, well thought-out decisions even if you want to sprinkle in some luck and timing. Staubach wasn't "making it rain" in strip clubs or spending money on ridiculous 'symbols' of perceived wealth like jewelry and fancy cars. Antonio Brown clearly wasn't making smart decisions with his massive fortune, which should have set him up for life.
It's a cliche, but it rings true; It's not what you make, it's what you keep (after saving and investing wisely).
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