Sports Clinton Portis Who Made More Than 40 Million Dollars is Now Broke!

Discussion in 'The Howard Stern Show' started by WillieX, Dec 19, 2015.

  1. WillieX

    WillieX Well-Known Member

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    [​IMG]AP
    Clinton Portis made enough money during his NFL career in Denver and Washington that he should be set for life: In nine NFL seasons, Portis made more than $40 million.

    But Portis isn’t just not set for life, he’s broke. Portis filed for bankruptcy this week, saying he has debts of more than $5 million that he can’t afford to pay.

    We noted in June that Portis had a debt to the MGM Grand Hotel in Las Vegas of $287,178.56, and that the IRS accused him of failing to pay $401,432.18 in federal income taxes in 2006, and $57,187.61 in federal income taxes in 2010. Portis also lists debts of $500,000 to his mother, $500,000 to Entertainment Tonight correspondent and former sideline reporter Nischelle Turner, $412,000 in “domestic support obligations” to four different women and $175,000 in car loans.

    Portis’s failed business ventures have included sinking $8 million into a casino that went belly-up, and putting $2 million into a “wealth management” firm that was later described as a Ponzi scheme.

    The 34-year-old Portis rushed for more than 1,200 yards in five of his nine NFL seasons.
     
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  2. PI Nate

    PI Nate Disenfranchised since 1984... Gold

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  3. Slow

    Slow My name is my name DawgShed News

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    :roll:
     
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  4. WillieX

    WillieX Well-Known Member

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    I used to feel bad when I'd read these kinds of stories. Now I just laugh!
     
  5. Murcielago

    Murcielago Smoke me a kipper, I'll be back for breakfast

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    As often happens, the agents end up with more money from a player's career than the player does. Smart vs. stupid is the true source of most wealth inequality.
     
  6. imissalison

    imissalison f**k Mutt

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    This makes me smile :)
    Fuck anyone who wins the lottery and pisses it away.
     
  7. Lemmy

    Lemmy Douchebag Extraordinaire Gold

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    Owes $500k to his mother? Bullshit......fuck you!



    :jj:
     
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  8. Tipsey Russell

    Tipsey Russell VIP Extreme Gold

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    it seems like this can't be possible that it happens

    but it do
     
  9. Rob0729

    Rob0729 Well-Known Member

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    So after taxes and his agent, he probably made about $20 million. I guarantee you if I made $20 million, I would never go broke, never work, and live a damn fine lifestyle. If I was making that kind of scratch, I would put 50-75% in safe, but decent interest investments and live off the interest (actually pull out the principle at the same amount of the interest to avoid the short term capital gains hit).
     
    Last edited: Dec 20, 2015
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  10. DrivenByDemons

    DrivenByDemons Spinoff Jesus Staff Member

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    Dindu Nuffins with his money.
     
  11. Stretch5000

    Stretch5000 Well-Known Member

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  12. BrerJimmy

    BrerJimmy Well-Known Member

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    Have you ever seen his mother? An ugly, ugly woman.
     
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  13. Avery

    Avery Well-Known Member Banned User

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    AnD he probably got the bitch money doing those chunky soup commercials.
     
  14. Snotty

    Snotty My Snothand be strong!!! VIP Gold

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    Now you know the meaning of "Reggie Rich"..........
     
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  15. Snotty

    Snotty My Snothand be strong!!! VIP Gold

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    Wasn't someone asking in another thread why the Jews were
    hated so bad?
     
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  16. BrerJimmy

    BrerJimmy Well-Known Member

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    Here's a tip, don't invest the majority of your stock portfolio in costumes and novelty sunglasses...

    [​IMG]
     
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  17. Father O'Blivion

    Father O'Blivion Well-Known Member

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    How in hell do you lose money on a casino? :funny:
     
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  18. VarmintSam

    VarmintSam Well-Known Member VIP Gold

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    .
    :jj:
     
  19. MutteringJohn

    MutteringJohn Well-Known Member

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    NFL players can't say no. If they grew up in a single parent household the first thing they say when they turn pro is I'm going to buy my mom and grandmother a house. Naturally the mother turns on the son when everything turns to shit and he goes broke. The next thing the NFL player does is make sure to impregnate as many women as possible. The Black Man cannot wear a rubber. It's not going to happen. Half the women want to get pregnant anyway to go after the child support. They have to buy a big SUV and at least three sports cars. Waste money on overpriced bling when they try to sell it back they end up with 10 cents on the dollar. That turns $1.5 million into $150,000. The problem is that $1.5 million was actually $3 million before taxes and agent fees. Get fucked in the real estate market by buying a house with the priced jacked up because that's the house they wanted. They carried a mortgage on it but put down a huge down payment. Now when they try sell it it's below what they paid so there goes the down payment or most of it. Buy every new electronic gadget known to man and custom made suits and shoes. All you can do with clothes is give them to Goodwill and those electronic items are outdated a year after you bought them. Business investments, Portis got fucked over buying a Bingo casino in Alabama. Don't go to an established financial advisor, go to the man who your middle linebacker said treats the brother's right. Then find out a few years later that guy fucked you 50 ways to Sunday. The middle linebacker would know, he can barely read or write and was passed through every grade due to athletic ability. Your busted, Portis! Case Closed!!
     
  20. WillieX

    WillieX Well-Known Member

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    "$175,000 in car loans" :giggle:
     
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