Athletes Who've Lost Millions

Retired basketball star Magic Johnson recently made news with his purchase of the L.A. Dodgers for $2 billion. But not all professional athletes have maintained their fortunes. Dennis Rodman was the latest to go broke. Dozens of athletes have filed for bankruptcy, had their homes foreclosed or lost millions in other ways. Read on to see which athletes ended up broke at one point in their lives. --by Caroline Kim

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Dorothy Hamill

Olympic gold medal ice skater Dorothy Hamill was one of the earliest icons of figure skating and was the first female athlete to sign a $1-million-a-year contract, which was with the Ice Capades. However, her wealth didn’t last. She filed for bankruptcy in 1996 and lost her ownership of the Ice Capades company. Despite her financial issues, in 2000 she was inducted to the World Figure Skating Hall of Fame.

Photo: Dorothy Hamill ... more
Dorothy Hamill

Olympic gold medal ice skater Dorothy Hamill was one of the earliest icons of figure skating and was the first female athlete to sign a $1-million-a-year contract, which was with the Ice Capades. However, her wealth didn’t last. She filed for bankruptcy in 1996 and lost her ownership of the Ice Capades company. Despite her financial issues, in 2000 she was inducted to the World Figure Skating Hall of Fame.

Photo: Dorothy Hamill rehearses at the Verizon Center on November 16, 2009 in Washington, DC. less

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