Wayne County residents dealing with financial challenges in our struggling economy could perhaps be forgiven for the occasional daydreams of fame and fortune. If only one had the six, seven or eight-figure salary of a professional athlete, it would seem, bankruptcy would simply never be in the picture.
As it turns out, however, many of these athletes -- even promising young stars with the world seemingly at their fingertips -- are finding themselves filing for bankruptcy. The recent case of a former NBA star is illustrative. Just a teenager at the time, he signed a deal in the late nineties for just over $70 million, and was told by the coach that never again in his life would money be a worry for him.