Success in a championship depends as much on luck as it does on skill. Everything must go in your direction. When it comes to the Championship ring, even the greatest must align themselves with the appropriate team to be able to win one.
Prominent sportsmen are not exempt from the “curse of riches,” and many have fallen victim to destitution. Some have been unfortunate to have their wealth destroyed by medical bills brought on by illness, while others have lost their wealth due to poor investment choices.
When disaster strikes, former champions are sometimes left with no choice but to sell their championship rings and trophies to pawn shops and auction houses.
“The Three D’s: drugs, divorce, and death” are some primary causes of athletes’ financial problems. We’ll examine a few elite athletes who had to sell their championship rings to save the bank.
Lawrence Taylor
The great giant Lawrence Taylor is no stranger to controversy. During his playing career, he struggled with drugs. Both on and off the field, this hard-charging linebacker has taken his fair share of hard hits. LT hit financial hard times and had to sell his Super Bowl XXV ring which may have gone into paying for his drug habit, rehab, or his numerous legal issues.
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William Perry
“The Fridge” had a string of bad luck that saw him in ailing health and facing a home tax foreclosure. In 2000, he sold his 1985 Super Bowl championship ring. The exact amount that he got for it is not clear. The ring has changed fingers a few times over the years, but in July 2015, it was reportedly sold for over $200,000. Unfortunately, Perry, in his desperate situation, was not the one to benefit from that auction.
Antoine Walker
The star forward for the Celtics and the Heat had to sell his 2006 championship ring that he obtained with the latter. His ring sold for a reported $21,500. He had to file bankruptcy in 2010, only two years after retirement, claiming to be more than $12 million in debt. Walker publicly admitted to struggling with a gambling addiction. This is a sad revelation, considering he earned in excess of $100 million in his career.
Randy Brown
In his pursuit of a second three-peat, Randy Brown provided the Chicago Bulls with a tremendous energy boost off the bench. After that, he remained with the Bulls and started playing for the team. He entered coaching and management after retiring, but 2008–09 was a difficult year for him. After losing his coaching position, Mr. Brown was forced to file for Chapter 7 bankruptcy in August of that year and was told to sell his championship rings.
Elvin Hayes
The NBA legend “Big E” played for the Rockets and the Bullets and was selected as one of the 50 greatest players of all time. In terms of total rebounds, he is ranked fourth all-time. In 1978, he won a championship with the Washington Bullets. In 2014, he abruptly and mysteriously put his ring up for auction.
Julius Erving
The game of basketball was redefined by the legendary Dr. J. He was the ultimate entertainer. Watching him take it to the hole and finish with an impressive dunk drew in crowds. Dr. J’s financial circumstances became difficult when a Georgia bank sued him to collect unpaid $200,000 in debt. To get back on his feet, Dr. J had to auction off his rings and other sports memorabilia after using the money to purchase a golf course.
