Athletes Who've Lost Millions

Dennis Rodman

The former NBCA player Dennis Rodman was in court this week and faces up to 20 days in jail for failure to pay $860,000 in spousal and child support. The former Chicago Bulls power forward is just the latest in a long string of pro athletes who have squandered their fortunes.

Photo: Dennis Rodman speaks at the Basketball Hall of Fame Enshrinement Ceremony on Aug.12, 2011 in Springfield, Massachusetts.

Mike Tyson

The heavyweight champion earned an estimated $400 million in his career. But much of his wealth went toward buying homes, jewelry, drugs – and two divorce settlements. Some of his extravagant purchases included a $2 million bathtub and $140,000 for two Bengal tigers. He filed for bankruptcy in 2003, listing $27 million in debts. Of those debts, he owed the IRS $13.4 million. Tyson is hoping for a comeback of sorts; he’s scheduled to star in a one-man show about himself, set to premiere next month at the MGM Grand in Las Vegas.

Photo: Tyson speaks onstage at Comedy Central's Roast of Charlie Sheen on September 10, 2011 in Los Angeles, California.

Antoine Walker

Antoine Walker made more than $110 million in his NBA career, which included a championship with the Miami Heat in 2006. But in March, he sold his championship ring for $21,500 to help pay back his creditors, according to celebrity gossip web site TMZ. He filed for bankruptcy in 2010, citing total assets of $4.28 million and liabilities of $12.74 million.

Photo: Antoine Walker #8 of the Miami Heat drives to the basket against Tyrus Thomas #24 and Ben Wallace #3 of the Chicago Bulls in Game One of the Eastern Conference Quarterfinals during the 2007 NBA Playoffs on April 21, 2007 in Chicago, Illinois.

Julius Erving

During Julius Erving’s 16-year NBA career, he was one of the highest-paid basketball players and one of the first players to earn over $1 million per year. He owned a 6,500-square-foot home in Utah that included five bedrooms and, of course, a basketball court. It was listed for sale in January 2010 for $2.5 million. But in December 2010 Erving defaulted on the $2.23 million home after failing to find a buyer.

Photo: NBA Legends Julius "Dr.J" Erving and Billy Knight speak prior to the game of the Minnesota Lynx against the Atlanta Dream during Game Three of the 2011 WNBA Finals on Oct. 7, 2011 in Atlanta.

Dorothy Hamill

Olympic gold medal ice skater Dorothy Hamill was one of the earliest icons of figure skating and was the first female athlete to sign a $1-million-a-year contract, which was with the Ice Capades. However, her wealth didn’t last. She filed for bankruptcy in 1996 and lost her ownership of the Ice Capades company. Despite her financial issues, in 2000 she was inducted to the World Figure Skating Hall of Fame.

Photo: Dorothy Hamill rehearses at the Verizon Center on November 16, 2009 in Washington, DC.

Michael Vick

Michael Vick used to be the highest-paid NFL player on the Atlanta Falcons with a 10-year contract worth $130 million. But in 2007, he went to prison for an illegal dog-fighting ring, which cost him his salary, contract and endorsements. He filed for Chapter 11 bankruptcy from prison in 2008. After his release in 2009, Vick signed with the Philadelphia Eagles initially for two years on a contract worth over $6 million, and signed again with them in 2011 for a six-year, $100 million contract.

Photo: Michael Vick #7 of the Philadelphia Eagles scrambles against the New York Jets on Dec.18, 2011 in Philadelphia.

John Daly

John Daly earned between $50 and $60 million during his career as a two-time PGA Major champion. But he gambled most of it away, according to his autobiography. Daly also once lost $1.65 million in five hours playing slot machines. His $1.6 million house was foreclosed on in early 2009. The 7,671-square-foot home had four bedrooms and sat on 2.11 acres.

Photo: Daly waves during the first round of the Sicilian Open on March 29, 2012 in Sciacca, Italy.

Allen Iverson

Former NBA player Allen Iverson holds the sixth regular-season career scoring average of all time and the playoffs average that’s second only to Michael Jordan. However, Iverson’s mansion in Cherry Hills, Colo., went into foreclosure in March 2011. He bought the 6,848-square-foot six-bedroom home for $3.88 million in January 2008. He quit paying the mortgage prior to the foreclosure and owed more than $2.5 million, according to The Denver Post.

Photo: Allen Iverson makes a move to the basket against Kirk Hinrich of the Chicago Bulls during a game on Feb. 20, 2010 in Chicago.

Scottie Pippen

Scottie Pippen earned $120 million during his career, which included six championships with the Chicago Bulls and fellow team member Michael Jordan. But he lost most of his earnings—including $27 million on bad investments and $4.3 million on a Gulfstream jet that was grounded months after its purchase. He sued his attorneys for failing to monitor the jet purchase, won the lawsuit and was awarded a quarter of the reward sought.

Photo: Scottie Pippen addresses the fans after the unveiling of a bronze bust in his honor during the game between the Chicago Bulls and the Boston Celtics on April 7, 2011 at the United Center in Chicago.