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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

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16.

Pete    

Vince Neil-
Heavy metal front man, frequent drunk driver, bereaved father, and serial entrepreneur: Vince Neil Wharton has worn many hats, including that of the insolvent debtor -- twice. In 2010, the Mötley Crüe singer’s bankruptcy lawyer sued him, after five years in court, for unpaid legal bills, saying Neil owed him $16,000. So not only did Neil manage to lose all his money twice, he also failed to find a way to pay the man charged with saving

795 days ago
17.

Pete    

Stephen Baldwin--

Alec’s brother, an actor like all the Baldwin boys, filed for Chapter 11 in July 2009, after defaulting on his mortgage loan -- this after starring roles in such notable releases as The Usual Suspects (1995) and The Flintstones in Viva Rock Vegas (2000). Baldwin said he had debts of more than $2.3 million. It was also reported that Baldwin owed money on another mortgage, and possibly tens of thousands of dollars in unpaid state and federal property taxes.

795 days ago
18.

knickfan212    

IMO, there's not much difference between athletes and drug dealers when it comes to money. One is legal and one isn't. Just like drug dealers, you make all this money,live good, dress good, get all the girls,but, it seems as soon as it's time to retire and enjoy your riches you have none.You spend as quick as you get it not thinking of life after. The drug dealer either goes to prison with no money or gets killed and the athlete after buying mansions and big cars they don't need end up filing bankruptcy. None of these guys think to save their money for the future.

795 days ago
19.

Truth    

What about his 27 kids?

795 days ago
20.

jimi    

hi , i'm jamal and i'm an idiot.... ( hi jamal )

795 days ago
21.

USArmy    

Why does it seem like all the black guys lose their money? Are they all that stupid?

795 days ago
22.

just sayin    

This says it is Chapter 11 bankruptcy, which is a chapter for businesses. There may be more to this story because he isn't filing personal bankruptcy (ch. 7 or 13).

795 days ago
23.

chey    

smdh!!! now this is a dam shame and anyone that can make that much money and go bankrupt deserves to go bankrupt..

795 days ago
24.

Dietra    

A female being told she's on her period or being called a bitch because she states her opinion, HOW ORIGINAL. You getting angry at my comment just proves what I stated earlier.

794 days ago
25.

LRT    

A fool and his money are soon parted!

794 days ago
26.

Wolfman0802    

Are we supposed to feel sorry for the grossly over paid pro athlete? Live within your means, you have a college education, use it, what no common sense, you make $35,000/mo, hell my SS and pension isn't close to that but I have an excellent credit rating, oh, but I don't have 5 houses, hell, you can only live in 1 at a time...

794 days ago
27.

Wolfman0802    

I'm sorry, but are we (joe public) supposed to feel sorry for the over paid pro athletes?. For crying out loud he makes $35,000 a month, many of us don't make that in a year.. We have to live within our means, so should they....

794 days ago
28.

MrMafaka    

It is more common for blacks to do this, 9 out of 10 blacks do this stupid stuff, whites on the other hand is about 1 out of 10, so it just seems like that to you, when in fact more blacks do this, so there is much more comment about it, and we kinow blacks are much more racist than whites, so you being a racist are going to view it through your racist eyes

793 days ago
29.

JAKE    

TAKE EVRYTHING FROM HIM NOW.WHY SHOULD HE KEEP ANYTHING

793 days ago
30.

JugEars McKenyan Sr..    

No way, another bankrupt brutha!!? Whats next, another Tyson rape? Which reminds me, what's the most painful part of s e x for the average 'hoodie'? The Macing part...

788 days ago
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