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NFL players warn rookies: Stop spending!


May. 10, 2014 CNN

Who wouldn’t want to be Jadeveon Clowney?

The NFL’s top draft pick just landed around a $22 million contract with the Houston Texans and bragging rights for life. His face is everywhere, and his name is a trending Twitter hastag.

But while Clowney — and hundreds of other NFL rookies — know a lot about football, they know little about managing money. Many are likely to end up bankrupt.

Just two years after their athletic careers end, 78% of former NFL players are bankrupt or nearly there, according to an analysis by Sports Illustrated.

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