Deuce McAllister’s financial woes continue, house set for auction

Posted by Michael David Smith on July 15, 2011, 7:44 AM EDT
AP

Former Saints running back Deuce McAllister made tens of millions of dollars in his NFL career, but bad business decisions have left him reeling.

The New Orleans Times Picayune reports that a house owned by McAllister has is being seized by the St. Charles Parish Sheriff’s Office and is scheduled to be auctioned on July 27.

McAllister has been sued by Whitney National Bank, which says he owes it $1.8 million on the mortgage.

Whitney National Bank has been after McAllister since 2009, when the Nissan dealership in Jackson, Mississippi, that he owned filed for bankruptcy.

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20 responses to “Deuce McAllister’s financial woes continue, house set for auction”

  1. The problem is that he only made about $20 million during his career! C’mon owners! Man up and pay these men! If the players could keep 55% of the revenue, he could have earned $22 million and none of this would have happened! Lol

  2. Car dealerships, nightclubs, sportsbars, record labels, clothing companies are investments athletes should stay away from unless they are passive investors or being paid for the use of their names.

  3. Wow that sucks.

    I’m a Buc fan but Deuce has always been a favorite player of mine.

  4. business investments go belly up sometimes. happens to a lot of people, especially in the last five years. at least he can look himself in the mirror, and know he didn’t piss it away on a big ass chain, 0r something equally stupid.

  6. I would like to have 20 million to try and parlay into an investment success, without having to file for bankruptcy.

  7. He should have taken a cue from Dez Bryant. Gold is the most secure investment out there right now.

  10. I don’t begrudge professional athletes for making the money they do, it’s what the market value is. It’s when they think since they make so much money, they are businessmen, investors and entrapaneurs that makes me scratch my head. No matter what he does with the rest of his earning years, he will never make what he made as a professional athlete. Sad actually…..

  13. Investments are a crap shoot, that’s fine, but why not stick a couple of mil in the bank, just in case?

  14. Even though you make 20 million, you should live modestly-especially when you know it won’t last forever. 20 million is a lot of money and could set you up for life.
    It’s when you start buying multiple mansions, multiple expensive cars, entourages, vacations via private jets, etc. That’s when you will not be set for life but rather broke early.
    Buy a reasonable home, one or two cars, save and invest wisely-not on get rich quick schemes that your so called friends think you should invest in.

  15. His dealership was successful for a time, a lot of car dealerships are feeling the pain, especially ones in Mississippi, where the economy is absolute garbage. Don’t try to use this to paint Deuce as one of those idiot chain-wearing fools. He is not.

  16. McAllister was an ace on the football field. But in the investment field, well………..

  17. And what does Gayle “The Voice of Reason” Sayers have to say? Does he want the NFL to pay for this guys medical for life as well?

    I have ZERO sympathy for NFL players.

    GO OWNERS!

  18. Deuce is a decent fella, he’s not one of those big chain wearing fools. He (as many pro athletes) had many people pulling at him in all directions for money, stuff, all his life.
    The families of pro-athletes are usually the biggest deterrent in their life from retiring comfortably, especially in the African American community.
    Family members feel a sense of entitlement when a relative of theirs “hits the jackpot” and gets a big contract, that the athlete often has to make hard decisions of letting people go from their life forever or give in and become a provider to so many people with no hope of recouping those $$’s.
    Car dealerships were a good investment but as the economy went belly up people started to hang on to their older vehicles and not splurge on a new car like they once did.
    The thing I don’t understand is why would you take out a loan on a million dollar mansion? If you’ve made millions in your career why not just pay in cash that way you don’t owe anything and if the s*** hits the fan just sell it and now you can get that money back, in this case he will get nothing for that house and all the money he spent making payments ends up being just a really high cost rental plan.

  19. Why is it that boxers and football players run out and get car dealerships once they get their first big payday?! How many friggin failed “athlete” car dealerships do there have to be for the next crop of idiots to “get it”? If they would just live modestly for the 4-8 yr average career, they would leave the game with millions sitting in the bank.

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