Terrell Owens lost nearly all his NFL earnings due to "bad experiences" and lack of financial literacy
Terrell Owens played WR for 16 years in the NFL and is best known for his stints with the San Francisco 49ers and Dallas Cowboys. Through his 16 seasons, Terrell Owens made an estimated $79 million before fees and taxes.
Terrell Owens was inducted into the Pro Football Hall of Fame in 2018 with the third-most receiving yards and fourth-most receiving TDs. One would think that someone of his stature and NFL "royalty" would be enjoying retirement with enough money to last the end of his days.
For Terrell Owens, his "retirement" is far from that idea.
Having earned over $70 million in his NFL career, Terrell Owens' current net worth is... $500,000. His net worth is the same as the Dallas Cowboys' 2019 UDFA OT Brandon Knight.
Terrell Owens reflected on his NFL career this week in an interview with CNBC, stating that "bad experiences" made him lose nearly all of his career earnings. He also placed some blame on "inadequate representation and financial advice."
Owens said he would "never want any kid to go through what I went through," when explaining why he wants to help younger athletes in the NIL era. NIL stands for name, image, and likeness. Student-athletes on the high-school and college level were earlier prohibited from taking compensation from their school in lieu of profits on their name, image and likeness.
The new NCAA ruling now allows student-athletes to monetize their success by being able to sign sponsorship deals and sell their memorabilia for profit. Several high school seniors and college freshmen have already signed multi-million dollar deals this year.
Terrell Owens, like many players before and after him, was a victim of being too young and naive with millions in the bank. Agents and financial advisors often took advantage of these players, stopping short of giving them suitable advice for the future.
In Terrell Owens' case, his NFL retirement isn't a closed door. He also went as far as to say a team owner had reached out to him and told him to stay ready for a call, although he didn't divulge the owner's name.
"I miss the competition. When I left the game, I never left on my own terms. This [returning to the NFL] is an opportunity - when it arises - to capitalize and make the most of it," TO said.
Terrell Owens appears to be in great shape and seems like he could go through with an NFL comeback at the age of 47, almost a decade removed from his last season in the league.
Part of his urge to get back into the NFL could be to help pad his bank account, as well. He's already struck a deal with OnlyFans to have a channel where he will host fitness sessions and preview his future business endeavors while serving as an outlet for young athletes to get the right financial advice.