When we think of some of the most successful and wealthy people out there, some of our minds go to athletes. And while these guys are dynamite on the field, some of them are not so hot when it comes to the business world. While some have gone on to be great businessmen others (like these three) just can’t seem to catch a break.
1. Lenny Dykstra and his Magazine and Brokerage Firm
(source: businessinsider.com.au)
Dykstra is a player who made millions and millions throughout his career in which he was a three time all-star. And while he was a good player, he is most known now for his off field problems such as arrests and his horrific failures in business. His two worst failures were his magazine called “The Players Club” and a brokerage firm for high paid athletes. In addition to losing millions to the costs of these failed businesses, he also spent tons of money on homes and even a private jet.
2. Rocket Ismail and his Numerous Bad Investments
(source: sports.vice.com)
In his ten year career, Ismail made about $20 Million, which is enough for most people to live forever without a care in the world. Unfortunately for Ismail, he made some very very foolish decisions with his money in the form of many failed business ventures. Stores, a café, a record company and phone card dispensers are some of his attempts that were unsuccessful. He blames these mistakes on smooth talking partners who convinced him, but after being fooled this many times, Ismail definitely has to take some of the blame for the fact these businesses have cost him millions.
3. Curt Schilling and 38 Studios
(source: actiontrip.com)
Of all the failed business ventures of athletes, this is probably the worst. Schilling founded 38 Studios in 2006 and sunk millions into this video game development studio. While they did release a few games that were decently well done, the studio couldn’t pay back a huge $75 Million loan they took out and thus the company closed and the team was sued. By the end, Schilling has said he believes he lost about $50 Million to the fiasco.
