It is a sad statistic, a reality rather, that after two years of retirement, 78% of NFL players either go bankrupt or find themselves under financial stress. Plaxico Burress’ life followed a similar script. The former New York Giants wideout faced so much financial duress that he was forced to make a tough decision that many ex-NFL players would avoid: selling his Super Bowl ring.
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Burress’ NFL career spanned from 2000 to 2013. He played with the Pittsburgh Steelers, the Giants, with whom he won the Super Bowl, and the New York Jets. His financial troubles, however, began immediately after retirement.
In 2013, he was forced to sell his 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. In 2018, Burress faced foreclosure on his 5,500-square-foot mansion in New Jersey.
The wideout, who won the ring in 2007, famously catching the game-winning touchdown, parted with it for a staggering amount of $280,600. It became the second-most expensive Super Bowl ring ever sold. This raised an interesting question: Will NFL greats part with their championship ring if they needed money?
Cam Newton provided his answer on the latest episode of 4th & 1, displaying his practicality while 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,” said Newton.
Cam has not won a Super Bowl though. But he insisted he would not be sentimental, saying he doesn’t understand why people cling to nostalgia, holding onto things that ultimately have no real purpose. 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.
Newton warns De’Vondre Campbell
De’Vondre Campbell became a villain after refusing to take the field for the 49ers during a game last season. The team didn’t hold back. They criticized him, docked his pay, and ultimately released him.
Campbell has remained tight-lipped about what transpired. 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 would all boil down to how he manages his money. If he adjusts his lifestyle to match his post-football income, he might be fine. Newton added that 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,” said Newton.
Cam said the predicament of former players like Burress acts as a caution for the rest. Even with career earnings of $39 million, Campbell isn’t immune to financial pitfalls — taxes, house payments, alimony, lawsuits, and other expenses that 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 management, even millions can disappear quickly.
