Antonio Brown, the NFL ex-receiver, has confirmed that he has filed for Chapter 11 bankruptcy.
Petitioning for Chapter 11 bankruptcy, sometimes known as “reorganization” bankruptcy, means that the ex-NFL star will need to undergo a court-supervised restructuring of his debt arrangements.
Brown Spent Majority of Career at Pittsburgh Steelers
Antonio Brown spent most of his playing time as a wide receiver for the Pittsburgh Steelers. He was employed by them from 2010 to 2018.
He went on to play, in short spells, for the Oakland Raiders, New England Patriots, and Tampa Bay Buccaneers. He has also been releasing music as AB since 2020.
Potential Hall of Famer
His exploits on the field had led to many tipping him as a potential entry into the Pro Football Hall of Fame.
He is a Super Bowl Champion and has 4 first team All-Pros as wide receiver, having been nominated the best player in that position by fellow professional players.
Brown’s Previous Legal Troubles
Brown has had legal troubles in the past, including assault and sexual assault allegations, as well as issues with the league.
In one incident, he threw furniture from a 14th floor apartment window, narrowly missing pedestrians below.
Issues Despite High Salary Career
Antonio Brown was one of the best-paid players in the NFL. His 2020 contract with the Tampa Bay Buccaneers entitled him to $1 million dollars base salary and $1.5 million dollars in performance incentives.
Over the course of his career, he reportedly earned more than $80 million.
Playing Career Interrupted by Suspensions
His playing career, however, was disrupted on several occasions by suspensions due to misconduct.
In 2020, he served an 8-game ban for multiple league personal conduct violations and, in 2021, received a 3-game ban for faking a COVID-19 vaccination card.
Largest Debt is Due to Assault Claim
In 2020, Brown allegedly assaulted a moving truck driver, who subsequently sued him for $1.2 million.
This is the largest single source of debt as registered under his Chapter 11 bankruptcy petition.
Says He is Not Broke
Despite the bankruptcy filing and troubles in the past, Brown says he is not broke.
Speaking on The Pivot Podcast, he says, “I’m not broke, but I’m fractured. … I’m just reallocating the debt to take care of the debtors. That’s all I’m doing.”
Opens Up About Struggles
Also on the podcast, Brown opened up about debt struggles and his current financial situation.
“I mean, I’m f—-d up, you know what I’m saying? I just can’t comply with debt. You know, it’s all about protecting yourself.”
A Common Issue for Ex-NFL Players
Brown is far from the first ex-NFL star to have financial woes following their professional football career.
According to research from the National Bureau for Economic Research, 15.7% of NFL players have petitioned for bankruptcy within 12 years of ending their playing career.
