Costly Pro Athlete Divorces
You might be surprised to learn that many professional athletes who take impressive measures to protect themselves from injury in their sport fail to protect their finances. In fact, many pro athletes have had to pay millions to their spouse in their divorce. According to Time, below are a few examples of high-profile cases:
- Michael Jordan. While Michael Jordan is one of the most well-known basketball players, he is also well-known for his costly divorce. After allegations of his infidelity, Juanita Jordan filed for divorce which was finalized in 2007. Juanita received $168 million in the settlement.
- Greg Norman. Greg Norman, the professional golfer from Australia, made headlines when he divorced his wife, Laura Andrassy, to be with tennis star Chris Evert. To make matters even juicier, Christ Evert was married to Norman’s friend, Andy Mill, a downhill skier. Norman and Evert eventually got married and divorced 15 months later. As for Laura Andrassy, she got $104 million in the divorce settlement.
- Tiger Woods. When Tiger Woods’ affairs went public, his reputation as a role model plummeted. His bank account took a hit as well when his wife, Elin Nordegren, received a $100 million settlement. Woods has continued to pay the price since he lost several large sponsors and his golf game has struggled as well.
- Michael Strahan. In 2006, the NFL player and media personality had to pay his wife, Jean Muggli, $15 million plus $18,000 a month in child support.
- Lance Armstrong. Lance Armstrong brought cycling into the spotlight before his fall from grace when he was caught using performance-enhancing drugs. He also left wife Kristin to start a relationship with singer Sheryl Crow. Kristin recovered $14 million in their divorce settlement.
- Alex Rodriguez. The Yankees star split from his wife, Cynthia, in 2008 after five years of marriage. Although the terms of their divorce settlement were private, Cynthia’s divorce petition had requested she be awarded the couple’s $12 million Coral Gables estate, in addition to an equitable distribution of their other assets.
- Nick Faldo. The golfer paid his third wife, Valerie, $11.8 million in their divorce.
- Terry Bollea aka Hulk Hogan. When Bollea and his wife split, she was awarded more than $10 million, including a percentage of ownership in Bollea’s companies and $3 million in real property.
In sum, professional athletes may be nearly flawless in their sport, but they often fail miserably in their personal lives by failing to obtain pre-nuptial or post-nuptial agreements. Don’t make the same mistake – let us help.
Contact the Men’s Divorce Law Firm to schedule a consultation with a caring professional, and aggressive advocate for men’s rights in pre-nuptial and post-nuptial agreements, divorce, child timesharing (custody), child support, and alimony.