It’s hard to imagine bleeding your bank account $80 million over the course of your thriving NFL career, but that’s exactly what Terrell Owens has done. But how?
Well, Terrell’s profile in the latest issue of GQ showcases his rise and fall in the NFL and in his bank account. He blames his dwindling fortune on financial misguidance from people he trusted in the business, having multiple children from multiple women and investing in lots of real estate that went bust.
Terrell says he was commissioned financial advisers by Drew Rosenhaus, but they lead him into a bunch of risky, highly leveraged ventures that he didn’t discover until Fall 2010, when things looked worse for wear. This is when he demanded a full accounting of his finances to discover why all of his money was virtually diminished.
The former NFL superstar also invested millions in real estate, which all went bust in 2008, leaving him to sell the homes at a fraction of what he paid, just to keep up with his regular bills. Speaking of bills, Terrell also has to pay a whopping $46,000 per month between his four baby mamas in child support payments.
After signing to the Allen Wranglers indoor football league for $500,000 it doesn’t seem like Terrell is exactly in the black yet with his finances, but hopefully he’ll get there soon.
