Yahoo Sports The Post Game: Jets Quarterback Mark Brunell's Catastrophic Financial Path

[seancarter]

http://www.thepostgame.com/blog/dish...18-year-career

Although he has a better playoff winning percentage than Peyton Manning, 18-year NFL quarterback Mark Brunell is facing a financial nightmare.
Action News Jacksonville reports the current Jets backup and former Jaguars hero has managed to run through $50 million as an active player and will have to start a 9-to-5 job as soon as his NFL career is over.

And that will be soon. Brunell plans to retire from the Jets after this season and, because of his financial misfortunes, will have to become a regular working stiff. Bankruptcy filings show Brunell has a job lined up to work as a medical sales representative after he's done holding a clipboard in New York.

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[gortiz]

sad man ... why do poeple still invenst in restaurants? god ... don't like 75% fold in the first 6 months or something.

i feel bad for the dude, but he should have got help, sounds like he made a lot of decisions on his own without help from a consultant.

[PokerPacker]

how can these multi-millionaires bankrupt themselves so easily? First thing they should spend their money on is a financial advisor to keep them from doing stupid ****.

[SlinginSammy HOF '63]

I'll never understand these guys investing in VERY risky things like individual businesses. Sure, the stock market is a little weak and volatile, but these guys would have been much better off buying mutual funds and creating various IRAs for themselves. Too bad, but at least he has a job lined up that will make money. He's just going to have to learn to live below what he has enjoyed for years.

[mboyd784]

Oh real estate bubble, you have taught many of us some very important lessons.

[pjfootballer]

how can these multi-millionaires bankrupt themselves so easily? First thing they should spend their money on is a financial advisor to keep them from doing stupid ****.

Agree. First thing is to find a good retirement portfolio and make sure to put at least half your salery into a retirement account that you can't touch until you are 65 or find a really big mattress to stuff. Seriously, a retirement account is the first step. Then if you have extra money, find some sound investments.

[Jumbo]

I know this seems mean, but there's something really stupid about being able to "run through" $50 mil.

[penasquito]

Well, its not like he blew it on renting yachts and partying. He went into business, he sucked at it, he's going to try an 8 to 5 gig.

An even better place to start than mutual funds is a pension that his various plaintiffs can't touch.

[Destino]

No comments about him buying too much bling, cars, and houses?

Most athletes that lose all their money do so to bad investments. I've been telling people for years that it's not a coincidence that all these hard to reach athletes always find themselves in front of people pitching the worst kinds of investments. There is a lot of money to be made separating financially illiterate people from their cash when they have a lot of it. I wouldn't be surprised at all if agents and other NFL connected people have gotten a "tip" from the people seeking to offer these "opportunities".

[Ghost of Nibbs McPimpin]

Oh real estate bubble, you have taught many of us some very important lessons.

Shoulda listened to Peter Schiff.

---------- Post added November-1st-2011 at 11:04 PM ----------

No comments about him buying too much bling, cars, and houses?

Only black players do that, Des. :P But I think part of it is the image some guys project. It very well COULD be that Mark bought a ton of houses (technically he bought real estate, I guess) and cars and the like but he had a different public persona. Even though I know his alter-ego Scott Brunell was wearing 5 lb platinum amulets and doing body shots off of coke-addled 19 year old undergrads.

[spjunkies]

I wonder if Scott is going to help him out.

[No_Pressure]

I don't know what is so hard about investing safely. If you have millions and millions of dollars coming to you every single year, why would you take risks with it? What is the point? You've got so much to lose and so little to gain. Jesus he would have been better off buying gold with it and making a gold coin swimming pool in his house like scrooge mcduck.

[Roger.Staubach]

I know this seems mean, but there's something really stupid about being able to "run through" $50 mil.

Bah. I don't think that your sentiment is mean at all. Most of us go through life and bust our butts to care for ourselves and our families. 50 Mil would go a long ways towards that care and to see someone piss it away sucks.

That being said, I always liked Brunell. I hope he finds a way out of this crisis.

[The Fax]

$60,000 a month after football? He couldn't get a gig at ESPN or something? I'd much rather watch him over Antonio Pierce or Keyshawn Johnson.

[Rpredskins]

I don't understand why these guys can't just save $2 million... thats 4% of his total earnings and enough to live off of. Blowing 96% of your money, while stupid, is at least plausible to me. How do you manage to blow all of it, especially when the total is that much?