A new show on CNBC called “Back in the Game” executive produced by Micheal Strahan, and hosted by Alex Rodriguez, will feature former athletes that have fallen on hard financial times.
The show will pair these athletes, who in some cases have blown away massive amounts of money, with money savvy mentors who will help them get back on their feet. The first show will air March 13th 2018 and will feature former NBA star Joe Smith who managed to burn through 60 million dollars which could be a game show in itself.
We all know or have heard that most professional athletes are broke shortly after they retire. Within five years of retirement, 60% of NBA players file bankrupcy.
Smith was drafted with the 1st overall pick in 1995 with the Golden State Warriors. He played on 13 NBA teams, playing in over 1000 NBA games, and started in 619 of them. Smith’s story is just like many of his contemporaries who were not able to prepare for life after sports and spent all of their earnings while they were playing.