Tommy Hearns in serious financial trouble

Just came across whilst looking for a footage of his amateur career.

Boxing legend Thomas Hearns risks losing home | detnews.com | The Detroit News

From the looks of it, he's in serious trouble. It appears in all he owes about $1m. Even though that's less than other boxers like Floyd have apparently owed in recent years, it's clearly problematic since he can't go out there & make what he owes easily in one fight.

I often think it's almost a blessing when these guys get in trouble with the taxman while they're in their prime because they can at least make it up and they generally seem to learn a lesson.

I worry that Hearns will try to make a comeback. He's not articulate enough that he could become a commentator and I don't see many ways for him to make cash. I hope he finds a way out of this :-\

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Originally Posted by JazMerkin

Just came across whilst looking for a footage of his amateur career.

Boxing legend Thomas Hearns risks losing home | detnews.com | The Detroit News

From the looks of it, he's in serious trouble. It appears in all he owes about $1m. Even though that's less than other boxers like Floyd have apparently owed in recent years, it's clearly problematic since he can't go out there & make what he owes easily in one fight.

I often think it's almost a blessing when these guys get in trouble with the taxman while they're in their prime because they can at least make it up and they generally seem to learn a lesson.

I worry that Hearns will try to make a comeback. He's not articulate enough that he could become a commentator and I don't see many ways for him to make cash. I hope he finds a way out of this :-\

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Bummer about the news. It just seems a lot of star athletes mishandle their money and become broke when they're in retirement.

In a way I am always glad to see a De la Hoya or Foreman doing well financially when they are in retirement so they wouldnt' be in these types of situations.

I just hope he doesn't use this as an excuse to make a comeback. Sports stars should reallt be made to take money management classes or something, for the amount they earn too many end up un trouble later in life. Whatever the sport, the governing bodies should provide help on how to manage finances, beacuse its just sad when great athletes end up in this position.

Sad truly sad, does not mean he has to fight again. Maybe his son will lend him some money.

He just needs to be creative.

Write a book
Get your name on a toaster
Be the face of a food or drink product
Do a motorvational speaking tour
Do after dinner speaking
Go into training other fighters
Acting

And that's just off the top of my head. There's no need to get back in the ring there are loads of avenues for him to go down with the name that he has.

And remember, Dana White will always take him.....

I cant help thinking how easily these fighters can prepare for retirement.

Im sure Hearns have gross so much more than $10M. And if he had just kept that $10M on a time deposit at 5% per annum that's $40K per month.


$40K per month im sure is good enough money for a decent and happy life wherever you live.

It's a shame. He is too old for anything now, no one knows who he is apart from boxing fans, so it's not easy to use his name to endorse or promote products.

Hatton is a prime example of what to do once you get on top. Invest in property, build gyms, do adverts, put your name on anything, tour the country talking to fans in theatres for cash, bring out a clothing label, start a boxing promotional company.........just do anything that makes money and pay people in the know to run them.

Sit back............relax, eat pies

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Originally Posted by Kel

It's a shame. He is too old for anything now, no one knows who he is apart from boxing fans, so it's not easy to use his name to endorse or promote products.

Hatton is a prime example of what to do once you get on top. Invest in property, build gyms, do adverts, put your name on anything, tour the country talking to fans in theatres for cash, bring out a clothing label, start a boxing promotional company.........just do anything that makes money and pay people in the know to run them.

Sit back............relax, eat pies

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Hatton is a good example, but the ultimate business man in my opinion outside of the ring has been George Foreman. Foreman has made hundreds of millions off his grill alone, not to mentioned he was very articulate to do HBO Boxing for years, have his own tv show, do commercials and rake in millions more. That man is an absolute legend inside and outside the ring.

Was sure he would be lured out when the Gym was closed...to help fund raise or something.Any commission who would even consider allowing Hearns a go at this point should have its head examined.Even through his last few and as far back as mid 90's it was a little cringe worthy,watching him with the legs of a newborn gazelle and taking flush hurting shots from journeyman Delgado.The Grant fight stamped it...yeh he hurt his ankle but he was also seeing the signs real early.Was hard to watch.Mans a legend and deserves better.I swear they are as much alone after the cheers end and the gloves come off for good as they are inside the ropes vs toughest opponent.Managers,promoters,trainers get their cut but who looks out for the fighter.Damn shame really.