Boxers going Broke

The tyson going broke is funny, yes he lost tons, he owed alot back in late 90's, but he invested a lot also. Ive been told by close sources he invested a lot in properties (coperate and commercial) in Austrailia, Malaysia and Europe (france? ).

Shelley Finkel and other advisors had Tyson invest a fat sum from the Lennox Lewis bout into investments.

Bad investments and back log of Taxes can make a rich man broke!!

 

It is the amount of flunkies they accumulate that tend to take away a lot of the cash.

Amir Khan barely sees any of his purses (which were considerable) because of all his various managers and people blowing smoke up his ass.

Managing money to me is a very simple thing, but with youngsters becoming bad at it (not just fighters, young people generally) it should be taught in school as a compulsory subject.

 

unfortunately boxers are normally the brutes of the earth and have absolutely no brains what so ever to deal with money issues.
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This is well documented and has been going on since boxing has. Read up on some of the famous stories. Start with Tyson if you want the biggest.

 

It's not just boxers. Look at the situation of debt for middle-income families. Credit card debt, etc.. Nothing about money is taught in school, so people grow up with the mentality of making money by working, but aren't taught what to do with it once they get it. Boxers are just a magnified example because they tend to be rich once they hit the world stage, so the sums they lose are higher.

 

It is estimated that nearly a third of all professional athletes end up destitute.

 

Hmmm.....

Maybe so. I know a few Asian kids around my age (23) and they all still tend to do exactly as they are told, not just by their parents, but uncles, distant senior cousins etc - part of the culture perhaps.

Trouble is - most Asians have a cracking brain for making money, perhaps some of these have rather cynically latched onto Amir and taken his focus away from boxing and towards lining their (rather than his own) pockets.

As far as I know though, he is still banned from driving. Correct me if I am wrong.......

 

sugar ray robinsons probably the biggest one, didn't he really hit hard times due to parasites and bad decisions ?