Terrell Owens on Losing His NFL Fortune: ‘Money Was Just Missing’
Owens says he eventually hired forensic accountants after discovering missing money.
Terrell Owens, a former NFL star, revealed that he once lost much of the $80 million he earned during his 15-year career in the league. Owens told Front Office Sports that he trusted his financial management to a small agency called Joseph Athletic Management in the early stages of his career. However, he later switched to a more prominent agent, Drew Rosenhaus, who was to handle his contracts.
Owens said he trusted Rosenhaus to oversee his finances, but he was later shocked to discover that his funds were dwindling. He claimed that the financial advisers he had hired to manage his portfolio and investments were tardy with payments and were not covering all expenses. Toward the end of his career, Owens noticed that his finances were "all over the place."
Later, forensic accountants found that a bank account had been opened under his power of attorney without his knowledge, leading to further financial losses. By 2010, when Owens was in his final season with the Bengals, his savings had dropped to nearly $500,000. Owens sued Rosenhaus in 2013, but the case was later sent to arbitration and dropped by 2018 due to the deadline for filing a claim.
Owens has since built a second career through media appearances, business ventures, and football involvement.
Written by urgent.news from Front Office Sports's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
