History is full of professional athletes going broke despite having long and successful careers. After two years of retirement, 78% of NFL players either go bankrupt or find themselves under some financial stress. Plaxico Burress is one such example. The former Giants wideout has faced such financial duress that he even had to make a tough decision that many ex-NFL players would ideally avoid: selling his Super Bowl ring.
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In 2018, Burress faced foreclosure on his 5,500-square-foot mansion in New Jersey. In 2013, the former Giant was forced to sell another home for $480,000 after seeing liens placed on his property stemming from an unpaid debt of $160,000 that he owed to a woman after rear-ending her in 2008.
Burress, who won the ring in 2007 and famously caught the game-winning touchdown, parted ways with it for a staggering $280,600—making it the second-most expensive Super Bowl ring ever sold. This raises an interesting question: If someone like Cam Newton ever needed money, would he consider selling his ring—if he had one?
On the latest episode of 4th & 1, Cam Newton displayed his practicality, stating that if he ever needed money, he wouldn’t hesitate to sell his possessions:
“Everybody makes a big fuss, I would never. Me being in the record books is more solidifying than just showing that I got one of these. When you put it in the grand scheme of things, that sh*t right there is a symbol of something that’s an afterthought. If you are hurting and you are trying to liquidate your assets, it happens all the time in business.”
Cam isn’t sentimental and doesn’t understand why people cling to nostalgia, holding onto things that ultimately have no real purpose. In the grand scheme of things, what matters is focusing on the bigger picture. If you’re facing financial hardship, he argues, the smart move is to think like a businessman and sell assets when necessary.
The former QB also had a word of caution for another player, who seems to be on the same path as Burress.
Cam Newton warns DeVondre Campbell
DeVondre Campbell became a media villain after refusing to take the field for the 49ers during a game last season. The team didn’t hold back, criticizing him, docking his pay, and ultimately releasing him. Yet, Campbell has remained tight-lipped about the situation, offering no explanation. Instead, he made it clear that he’s financially set, stating he has made enough money to live comfortably for the rest of his life without playing football again.
Newton, however, sees it differently. While he acknowledges that Campbell could be right, it all depends on how he manages his money. If he adjusts his lifestyle to match his post-football income, he might be fine. But if he continues spending like he’s still cashing NFL paychecks every week, he’ll eventually find himself in trouble.
“It goes back to expenses. What were Plaxico’s expenses? Also, you start talking about state taxes, federal taxes, child support, alimony, and certain lawsuits that may come against you. You need money. If you don’t have all those things to worry about, you ain’t need to chase the ghost.”
Cam pointed to players like Plaxico Burress as cautionary tales. Even with career earnings of $39 million, Campbell isn’t immune to financial pitfalls—taxes, house payments, alimony, lawsuits, and other expenses can quickly drain a fortune if there’s no new money coming in.
One of the biggest reasons professional athletes go broke is a lack of financial literacy and fiscal responsibility. It’s human nature to spend money as soon as it comes in, but without proper money management, even millions can disappear quickly.
