« BACK TO TMZ TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

Ex-NFL Star Jamal Lewis

Files for Bankruptcy

Makes a Lot, Spends a TON

5/27/2012 5:30 AM PDT BY TMZ STAFF
EXCLUSIVE

0525_jamal_lewis_article
Retired NFL star Jamal Lewis -- who helped the Baltimore Ravens win the Super Bowl in 2001 -- has filed for bankruptcy, claiming he's a financial train wreck ... and can't pay his eight-figure debt.

Jamal filed the Chapter 11 papers in Atlanta -- according to the docs, he's got $14,455,854 in assets but he's racked up a whopping $10,566,764.18 in debts.

Among his creditors -- Bank Of America has a lien for $947,876, Benz has one for 113k, Chrysler for 15k ... and the list goes on.

As for his assets -- Jamal's got five homes, a bunch of expensive cars, a $500,000 401(k), and 50% ownership in Fort Rapids Indoor Waterpark in Columbus, OH (worth about $6 mil).

According to the docs, Jamal is self-employed and earns approximately $35,000 a month.

By filing Chapter 11 Jamal ... can keep most of what he's got, while negotiating reduced and extended payments to creditors.

For more sports stories, check out tmzsports.com!
57 COMMENTS

No Avatar
1.

FresnoBullpup    

How can he file for bankruptcy if he has way more assets than debt? Just asking because I really don't get it.

788 days ago
2.

Banshee    

He does the work and he can spend his money anyway he wants...

Filing for bankruptcy will hopefully teach him how to spend and not over spend.

788 days ago
3.

RicRoc5    

It's funny how as soon as a black person does some dumb **** or is on here in a negative way, all the Racist comments come out, but if u look at all the dumb **** the white people do on here and nothing is said about race. No one called Jenna Jameson or Lane Garrison dumb White people or made any racist remarks. This is the true sign of cowards, and the same ones don't say **** to anyone black when they leave out of their safe zone of their homes. Cowards........This country is a mess.

788 days ago
4.

Renny085    

I am always amazed when I hear of these people who make more money than I will ever see in my lifetime but end up deep in debt. Why does a person need 5 homes and 20 cars??? On the flipside, all I've heard in the past week or so is how cheap Mark Zuckerberg and his wife are, well maybe they grasp the idea that just because you have it now doesn't mean it will always be there. If these people really just want to throw there money away, then they should deal with the debt also.

788 days ago
5.

Mick Kahler    

Whoa,.let's slow our roll here. He has just about 4 million more in assets than he does in debts. So you sell ALL your assets, pay your debts then start over. This bankruptcy bail-out crap is the same reason our country is in hock up to our necks like some third world country!

788 days ago
6.

rosebud    

What the hell is wrong with these people? Why do they spend more money then what they make? If I made the money these sports people make I would be living good enjoying my money and living off the interest with my money that is sitting in the bank. I can not feel sorry for STUPIDITY., There are people out there without a job and living day to day hoping for something to have a normal life again and this ass is going bankrupt because he did not know how to manage his money.

788 days ago
7.

rob    

He is a stupid person, not because he is black but because he is stupid R YOU HAPPY NOW RICROC5?

788 days ago
8.

Spencer B in MD    

WTF? Jamal Lewis earns $35,000 a month and he is filing BANKRUPTCY?! Why should this dumb-a$$ get a break? Hasn't he been handed enough?
Some people are just too stupid to exist without someone telling them what to do ALL of the time. Jamal Lewis is one of them. Dumb$hit!

788 days ago
9.

Pete    

Golf: John Daly
The 'Wild Thing' burst onto the scene when he arrived at the 1991 US PGA Championship as the ninth alternate, having driven all night to get to the course, and blew away the field with his unprecedented huge drives and an often miraculous short game touch. He instantly became one of the biggest draws in the game, and his 1995 Open Championship victory only added to the legend. His penchant for alcohol and gambling cost him everything, however: he reportedly once lost $1.65 million on Las Vegas slot machines in just five hours. He claims to have lost a total of $50 or $60... million, and was saved from bankruptcy several times by the generosity of his sponsors. He still has enough skill and public affection to be making a decent living.

788 days ago
10.

Pete    

Dorothy Hamill – Dorothy Hamill was the 1976 National, World and Olympic champion and moved on after that to the Ice Capades. She purchased the struggling company and tried to get it going again, but she had to sell in 1995 and filed for bankruptcy herself in 1996.

788 days ago
11.

Pete    

Donald Trump – Donald Trump found himself $900 million in debt in 1990 and lost a lot of his business ventures but somehow restructured his debt to be back on top running a billion-dollar empire.

788 days ago
12.

Jay    

at least he was smart enough to actually buy the houses?

788 days ago
13.

Pete    

Ted Nugent – Guitarist and singer Ted Nugent found himself bankrupt in 1980 because of several failed business ventures and poor management, but he continued to tour and crank out albums well into the 21st century. He’s since served on the Board of Directors of the National Rifle Association and sells his own beef jerky called Gonzo Meat Biltong.

788 days ago
14.

Dietra    

I'm sorry, but anybody that can't figure out how to live off of $35,000 a month doesn't deserve to have it. On a side note something needs to be said, why is it when some people comment on blogs, those who disagree with them IMMEDIATELY have to resort to OFFENSIVE name calling. Is everything about race, NO, but some people turn things into race issues with their comments. My statement may be unpopular, but it's the TRUTH. By the way, just out of curiosity, is ooga-booga supposed to be a DERAGATORY word used to INSULT people of color(BLACKS).

788 days ago
15.

StevenB    

If I were the judge, I would tell him -- You've got 14.5M in assets, 10.5M in debts. So, sell some stuff, pay your bills, walk away with 4M. Get a job. Take a money management course and live it. Bankruptcy DENIED.

788 days ago
| 1 | 2 | 3 | Most Recent | Next 15 Comments

Around The Web