Allen Iverson

From Riches To Rags: How 10 Jocks Went Broke

Former NBA star Allen Iverson owes more than $2.5 million on a house he bought in Denver while he was playing for the Nuggets. (AP Photo/Matt Slocum)

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Athletes' Riches... Making millions of dollars as a professional athlete doesn't mean the money will always be there. Which former players are now having financial troubles?
Allen Iverson Former NBA star Allen Iverson owes more than $2.5 million on a house he bought in Denver while he was playing for the Nuggets. (AP Photo/Matt Slocum)
JaMarcus Russell Former NFL quarterback JaMarcus Russell's home is almost in foreclosure. He doesn't owe nearly as much as Iverson, but $200,000 is a hefty debt when you don't have a job. (AP Photo/Mobile, Ala., County Sheriff's Office)
Mike Tyson "Taking On Tyson" is a new show soon to debut on Animal Planet. Perhaps Iron Mike needs a few paychecks to help him pay his bills. He's been quite candid in recent years, admitting to anyone who will listen that he's broke and living week to week. The former boxing champ's fortune at one point was estimated to stand at $400 million. (AP Photo/Jeff Christensen)
Evander Holyfiel... Tyson isn't the only former boxing champ with money problems. Evander Holyfield earned several hundred million dollars during a career that spanned more than two decades, but he's broke as well. His 109-room mansion in Atlanta went into foreclosure in 2008, and he's racked with child-support payments because, well, he has a lot of children. Holyfield also has made some bad business deals. (AP Photo/Thomas Sjørup/ POLFOTO)
John Daly Golfer John Daly wrote in his autobiography that he lost as much as $60 million in gambling over the years. He once famously said, "Everyone has addictions and my problem is that I have 5,000 of them. If it's not drinking, it's gambling; if it's not gambling, it's eating anything from burgers, doughnuts to M&Ms." Good thing Daly's interest in making country music hasn't turned into an addiction. (AP Photo/Lenny Ignelzi)
Lenny Dykstra The former Mets and Phillies star filed for bankruptcy in 2009, claiming he owed more than $30 million. But you can't exactly say he hasn't tried to be successful since his playing days. He's tried to start a financial magazine, a car wash, a stock trading website and has invested in real estate. Unfortunately for him, all of those ventures have failed. (AP Photo/Frank Franklin II)
Michael Vick Going to prison for 18 months because of fighting and killing dogs wasn't the only thing that hurt Michael Vick. The star NFL quarterback also went broke. Besides millions of dollars in lost salary, Vick filed for bankruptcy after sinking his fortune into legal fees, fines and supporting family and friends, according to numerous reports. (AP Photo/LM Otero)
Antoine Walker Bad investments, frivolous spending and even a little generosity were behind the former NBA player's squandering of his riches. Now, Walker is toiling in the D-League to help pay legal debts after he faced some fraud charges in Nevada. (AP Photo/Miami-Dade County Corrections and Rehabilitation Dept.)
Latrell Sprewell Former NBA all star Latrell Sprewell must have choked away millions of dollars because he failed to make monthly payments on a house and a boat. He went into foreclosure on the home and the yacht was sold at auction. Sprewell received harsh criticism after saying "I've got a family to feed" while turning down a $21 million contract. (AP Photo/Kevork Djansezian)
Scottie Pippen Think Scottie Pippen wouldn't want to have Justin Bieber's money? The former NBA superstar lost $120 million in career earnings, according to a 2010 Yahoo report. Among his not-so-savvy business moves was the 2002 purchase of a $4 million private jet that never flew. (AP Photo/Jae C. Hong)
Top 50 Projected... See our picks for the top 50 NFL free agents here.