In 2009, Sports Illustrated estimated that 78 percent of NFL players were bankrupt or faced serious financial stress within two years of ending their careers. It also estimated that 60 percent of professional basketball players were broke within five years of retiring from the NBA. Athletes including Dorothy Hamill, John Daly, Lenny Dykstra, Scottie Pippen and, more recently, Mike Tyson (who is currently suing his financial advisor for fraud) have experienced headline-making money management difficulties.
But it's not for lack of trying. Believe it or not (although we rarely see them this way) professional athletes are employees of corporations.
Now the research firm BrightScope has listed the top organizations in the sports industry with the highest ranked 401(k) plans containing more than $25 million in assets.
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