Pro athletes can make a fortune through contracts and endorsements, but managing that wealth
requires a skill set unto itself, and certain pros have definitely needed more practice
pinching pennies.
Here are some world-class athletes who are poorer than you thought.
Lindsey Vonn has won multiple Olympic medals and claimed plenty of top titles in her journey
to becoming one of the greatest skiers of all time.
She also has a high profile off the slopes, having appeared on a number of talk shows.
So considering all that, it's a little surprising to learn that the now-retired Vonn has a relatively
small fortune, at reportedly just $6 million.
"Getting paid through ski racing is very, very difficult.
It's a very steep pyramid.
If you're not in the top five or 10 in the world, you're struggling."
Vonn has actually made a significant amount of her money via endorsement deals with the
likes of Red Bull, Rolex, and Under Armour.
She's revealed that she hopes to get female ski racers more publicity while giving them
the push and the platforms that they need to make more money than they do through competitions
only.
Claiming her first Grand Slam tennis title by beating the iconic Serena Williams at the
2019 U.S. Open proved that tennis star Bianca Andreescu has the potential to continue to
win no matter who she faces in the future.
She can thus also look forward to potentially earning a formidable fortune.
And the funds that she will earn from her time on the court will surely be just a fraction
of the amount that she'll make via endorsement deals.
She's already sponsored by major brands like Nike and BMW, and she's expected to ink even
more money-making contracts down the line.
However, despite all of that, it's reportedly estimated that Andreescu only has $4 million
to her name as of November 2019 That's largely due to her U.S. Open win, which netted her
$3.85 million.
She's maintained a focused attitude as her earning potential has gone up, and she credits
her parents for keeping her humble and supported.
"They've always told me to dream big, and that's what I've been doing, so I can't thank
them enough."
Landing flips and rolling across the mats doesn't necessarily mean that you'll be landing
a fortune and rolling in dough.
Just ask Simone Biles.
Despite being the most decorated female gymnast in history and branching out on the likes
of Lip Sync Battle and Dancing with the Stars, she's estimated to be worth only $2 million.
Fortunately for her bank account, she's also locked down her fair share of endorsement
deals, including contracts with Hershey's, Nike, and Kellogg's.
Fittingly, you can find her name on gymnastics leotards from GK Elite Sportswear, and she's
been known to rock some Beats by Dre Powerbeats Pro earphones while twisting and flying through
the air.
Thankfully for Biles, she has the kind of financially-minded motivation that keeps her
earning and prevents her from overspending.
"I have a fear of going broke."
"And does this fear, is this every day, you wake up, like, I don't want to be broke?"
"Yes!"
After retiring from Major League Baseball in 2001, Jose Canseco is still one of the
most recognizable names in the world of baseball.
However, he now has a net worth of reportedly just $500,000 despite the tens of millions
he earned over the course of his career.
Maybe that's one reason why he's been playing in independent baseball leagues into his fifties,
including a three-game stint with the Frontier League's Normal CornBelters in 2018.
Since his MLB days, Canseco has tried to boost his bank account by stepping into the realm
of reality TV, with appearances on the likes of The Celebrity Apprentice and the Esquire
Network's This Is Mike Stud.
He's also tried his hand at celebrity boxing, though that ended in a breach of contract
lawsuit after he sent his twin brother Ozzie to fight in his place.
Perhaps all of this is why in 2005 he decided to sell his 2000 World Series ring, among
other treasures.
In 2008, he told Inside Edition,
"You know my life, this financial thing, is a very complicated issue."
That's surely putting it mildly.
Sheryl Swoopes was one of the most dominant forces in the early years of the WNBA, earning
multiple MVP awards and championships.
In 1995, she signed a signature shoe deal with Nike, becoming the first woman to do
so.
Despite this, she didn't end up becoming a billionaire like fellow Nike spokesperson
and basketball legend Michael Jordan.
Instead, she filed for bankruptcy in 2004 with over $1 million in debts.
She's now estimated to be worth just $200,000.
Apparently, being one of the best basketball players around doesn't mean that earning a
fortune is going to be a slam dunk.
While Swoopes may not have the biggest personal budget, she at least seems to have a grasp
on how to responsibly manage funds.
In October 2019, she had the good sense to seek assistance by tweeting,
"I need a little help.
I am in need of someone in the Houston area who can help me with some financial services
for my nonprofit.
Any suggestions?"
We suggest that other athletes follow Swoopes' example and find their own financial professionals
to work with.
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