Former NFL Running Back Jamal Lewis Files For Bankruptcy

Former NFL Running Back Jamal Lewis Files For Bankruptcy

After retiring from the NFL, Jamal Lewis became self-employed and earns a nice monthly paycheck of $35,000. Not bad, but that is far cry from the type of money he was receiving while in the league. You see, during his playing days, Lewis was able to purchase five homes, spend a whole lot on expensive cars, add to an impressive $500,000 401(k), and assume 50% ownership of the Fort Rapids Indoor Waterpark in Columbus, Ohio which is worth about $6 million. Unfortunately, the times have caught up with the former NFL running back. Jamal has filed for bankruptcy in Atlanta.

Even though Jamal has a reported $14,455,854 in assets, he has also managed to accumulate a huge $10,566,764.18 debt that he's currently struggling to pay off. Since Lewis filed for Chapter 11, he will be able to negotiate reduced and extended payments to his creditors which include Bank of America, Benz and Chrysler. Damn, life after the NFL just isn't so glamorous.    

RELATED: Money to Blow: A Recent History of NFL Players Going Broke

[via TMZ]

Tags: jamal-lewis, nfl, bankruptcy
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