Johnny Unitas
Johnny Unitas, a former Baltimore Colts quarterback and one of the all-time greats, declared bankruptcy in 1991. Unitas and his associates borrowed $3.5 million to purchase circuit board manufacturer National Circuits Inc. in 1984, but the company struggled for a while and Unitas’ attorney claimed that the city of Baltimore refused to repay a portion of the loan it had guaranteed. Prior to his retirement in 1973, it is estimated that the Hall of Famer earned approximately $100,000 per year in salary. It was only $7,000 for the year in his initial contract with the Colts, with the proviso that he had to play the entire season in order to collect the entire sum.
Johnny Unitas
Michael Vick
This former Atlanta Falcons quarterback has had a difficult personal life. In 2001, he signed a six-year, $62 million contract to play with the Atlanta Falcons. In 2007, he was sentenced to prison for his involvement in a dog fighting ring, and while incarcerated, he filed for Chapter 7 bankruptcy. Vick then returned to the professional football field in 2009, where he has played since. After filing for bankruptcy, Vick owed more than $17 million in debt, and a court judge determined in 2018 that he owed $2 million to an Oregon-based corporation called NV Partners. Since his retirement from professional football in 2017, Vick has worked as a spokesperson for the Humane Society of the United States, the offensive coordinator for the Atlanta Legends, and a football analyst for Fox Sports. He also serves on the board of directors for the Atlanta Legends.
Michael Vick
