NFL Hall of Famers who went from millionaires to bankruptcy

Dermontti Dawson 

The 2012 Pro Football Hall of Famer played 13 seasons in the NFL (1988-2000), and while his total earnings are unclear, he was the highest-paid offensive lineman in Steelers’ history ($4.2 million a year). Yet, he cited a staggering amount of debt when he filed for Chapter 7 Bankruptcy in 2010. Dawson claimed he had debts of around $70 million and assets worth just $1.5 million, according to The Wall Street Journal. 

Dawson paid the cost after investing millions of dollars into bad real estate decisions. He held numerous real estate interests and non-controlling minority interests that folded around the housing market crash in 2008, according to The Herald-Leader. Dawson listed tens of thousands in credit card debt in filing for bankruptcy on top of the millions more in lawsuits: 

“A judge awarded a $3.4 million judgment for Kentucky Bank against five partners, including Dawson, in a corporation called Miles Road LLC, which developed single-family houses and duplexes on Nicholasville’s east side,” cited The Herald-Leader. “The bank filed a foreclosure action when Miles Road defaulted on a loan.”

Today, Dawson is worth $500,000 according to Net Worth Post.