Joe Haden says most people have no idea how quickly an NFL contract disappears once taxes and family expenses hit. “I signed a five-year, $50 million contract.” “I had about $26.6 million guaranteed.” “My first year, I got a $12 million signing bonus.” “After taxes, I only touched around $7 million.” “The first thing I did was give my parents $3 million.” “Then I bought them a $1 million house.” “So right away, about $5 million was gone.” “I bought my brothers cars.” “I bought myself a penthouse.” “I got a Range Rover Sport and a Bentley GT.” “People hear $50 million and think you’ve got $50 million sitting in the bank.” “That’s not how it works.” “You look up after all that and realize you might only have around $1 million left.” “You start understanding real quick that a $50 million contract is not actually $50 million.” “That’s why so many guys go broke.”
