Are 78% of NFL and 60% NBA players bankrupt after 5 years after retiring? Fake news or not fake news?

Considering how much talk there is in the print, TV, radio, internet, online and vocal media today about what is fake news and what is not fake news do you think that the headline of this BLOG is fake news or not fake news?

You probably are not going to believe the headline so is it fake news, as I had a hard time believing it myself.

But, several supposedly reliable online articles and a national sports magazine stated that 78% of the NFL players and 60% of NBA players go bankrupt within 5 years after retiring.

Some stated within 2 years after retiring 78% of the NFLers are in financial trouble after retiring.

Those statistics are really hard, surprising and difficult to believe.

However, the above statistics are from supposedly creditable, legitimate, and very reliable sources which also list the 5 following reasons for the bankruptcies. Based on these 5 factors and their explanations I don’t believe it is “fake news”.

1. Open ended spending
2. Career Duration
3. Lack of financial experience
4. Poor investment decision5.
5. Hangin’ with a bad crowd

Here are some more legitimate reasons that may make this not fake news.

The average length of a career in the NFL is just only 3.5 years, compared to the NBA at 4.8 years.

Maybe the NBA players concentrate on their finances more than the NFLers seeing that they are 18% percent less to be bankrupt then the NFL players are after 5 years from retiring.

However, the NFL does have 32 teams with 53 players on each roster for 1696 players on NFL rosters, while the NBA has 30 teams with only 15 players on each roster for a total of 450 players in the NBA.

So the NFL has 4 times the number of players than the NBA does, which could be a factor why the pecrentage is higher for the NFL players.

Of course, the NFL has 11 players on the field at a time to the NBA’s 5 players at a time on the court.

The NFL only plays 16 games (4 months) during their regular season while the NBA plays 82 games (almost 6 months)

The NBA playoffs are much longer (April thru June) as they play the best 4 of 7 series to win the championship to the NFL only plays 4 games (mid-December thru lst of February.

Do you think that the news that 78% of NFL players and 60% NBA players are bankrupt 5 years after retiring or are the several sources Fake News or Not Fake News?

If it is not fake news then are there other reasons other than the 5 listed above or other material presented in this BLOG statistics wise?

What’s that old saying? “Figures don’t lie, but liars can figure”? So figure are not fake news, but maybe liars are inventing fake news.

Anyway it makes for very real interesting reading and thinking!

What do you think? Is this information fake news or not fake news?