Clinton Portis Made Over $43M In NFL, Now Owes Almost $5M In Less Than 5 Years
BY: John “Hennry” Harris
Ex-NFL running back Clinton Portis, 34, was once regarded as one of the best ball carriers in the NFL and signed an 8 year, $50.5 million contract. It is estimated that Portis has made more than $43 million in the NFL, but a report by Deadspin has revealed that he has filed for bankruptcy after falling $4,854,659 in debt.
How did Portis come to such an impasse? This narrative is one that is far to common with our Black athletes and entertainers.
- $500,000 to Entertainment Tonight correspondent and CNN contributor Nischelle Turner
- $390,000 in back taxes (disputed)
- $170,000 to the Borgata casino in Atlantic City
- $287,178.56 to the MGM Grand
- A combined $1,223,020 in mortgage deficiencies
- $500,000 to his mother Rhonnel Hearn
- $412,000 in unpaid domestic support to four different women
- Cars including BMW, Audi and Dodge Ram: $175,000
- $899.09 in unpaid telephone bills
- Law Offices: $80,000
Portis has not played in the NFL since 2010 and claims to have only $150 in his bank account. According to the bankruptcy filing, he receives $3,500 a month from the league in disability payments and another $1,000 a month for freelance work as sideline reporter during NFL games.
Portis points to a failed casino project that he invested in back in 2008 as a big reason for the debt. Other former players were also involved in that bad deal including Terrell Owens, Plaxico Burress, Roscoe Parrish, Gerard Warren, Kyle Orton, Greg Olsen and Santonio Holmes. It was Portis, however, who was rocked the hardest by the failed business venture. The Alabama bingo casino failure lost the group of 35 NFL stars a combined $40 million when it shut down in 2010.
“This been ongoing since 2011, 2012 … we just gotta go through the court process,” Portis said over the summer. “There’s nothing else I can do. My lawyers are currently dealing with this.”
“At the time I was the biggest name and had the deepest pockets,” Portis explained. “Now, they’re trying to hold me solely responsible for what was a bad business deal involving a lot of different people.”
Attorney Curtis Elmore, who is representing Portis in the foreclosure case on the $1 million home he built for his mother, says that his client was swindled by his financial advisers.
“Mr. Portis placed his trust in certain people for financial guidance and he’s been betrayed, so it’s not been due to his negligence or ineffective financial planning. It’s just been swindlers and the ripple effects that their actions are causing,” he said.
Portis’ poor money management and decisions effect not only him, but his family and friends as well.
Is it even worth making all that money if you just give it all away ??
Check out these highlights from Clinton Portis that made him the highest-paid running back:
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