MIAMI (CBSMiami) – For the second time in as many years, South Florida filmmaker Billy Corben will once again have a feature on ESPN. After first tackling the University of Miami football’s rise to fame, Corben is this time looking at how pro athletes spend millions only to end up “Broke.”
The feature, which will appear on ESPN’s 30 for 30, looks at how former athletes received millions, sometimes tens of millions of dollars while playing only to quickly spend all the money and end up in a serious financial jam.
According to a review by CBS4 news partner the Miami Herald, “much of the problem is due to immaturity, awful judgment, and just plain stupidity, and ‘Broke’ doesn’t go lightly on that.” The Herald’s review said the saddest moments came from how players’ friends and families prey on them when they have money only to ditch them when the cash spigot runs out.
There have been scores of athletes who have found themselves on the wrong end of financial ruin. Boxer Mike Tyson made around $400 million in his career and has nothing to show for it. Former NBA star Latrell Sprewell made roughly $50 million in his career and has since seen his homes foreclosed upon and yachts repossessed.
Broke can be seen on ESPN at 8 p.m.