How the richest sports stars spend their money

Sports stars are incredibly well paid. Some of them are earning millions per year, often from a very young age. As you can probably imagine, most of them are not particularly frugal with their cash. While they will put some of their money to one side (you have to save for a rainy day), a good chunk of change will be splashed on some fun expenses. We’re going to take a look at them.

Fast cars

Find a rich sports star and chances are they won’t be driving around in an Audi or the latest Ford. Most of them are being bundled into beautiful Porsches, Aston Martins or whatever million-dollar car has just rolled off the production line.

Fast cars have always been a bit of a status symbol, a way in which you can show off just how much cash you have. Because most of the richest sports stars start to earn their cash at an incredibly young age, they are more likely to pick up a fast car– lots of young people are petrolheads, after all. 

Head to the training ground for any major sports team, and you’ll see a parking lot laden with cars that most of us could only dream of affording.

Houses

For most well-paid sports stars, the first purchase is going to be a house. We aren’t talking about the local two-bedroom house, either. Oh no. Many of them are splurging on custom-built homes, epic mansions and more.

In the US, we have seen the best-paid sports stars spend a ton of cash having a custom house designed for themselves. Gilbert Arenas, for instance, spent over $5m getting some custom shark tanks added to his home, and then quickly sold the place when he realized how expensive the maintenance would be.

Casinos

Generally speaking, sports stars aren’t allowed to bet on any sport. You can probably guess why. However, this doesn’t stop them from spending plenty cash playing at casinos and having a huge amount of fun there, and we bet many of them also search for the best online slots Canada has to offer once training has finished. 

Head to a casino in the offseason and no doubt you’ll find that you are sharing a building with some of the top sports stars in the world. You probably won’t have much of a chance to speak to them, though. Many of them are going to be funneled off into a more private area of the building – you know, the high-rollers area.

Some sports stars have even spoken of their love for online casinos, and we’ve heard many stories of top stars whiling away the hours playing online poker. Floyd Mayweather Jr. is known to love casinos – not surprisingly, considering he is a Las Vegas native these days. 

Jewelry

Sports stars certainly love their bling. While many of us wouldn’t be caught dead draping ourselves with gold chains, epic watches and bracelets, most sports stars love to rock that look as they try to emulate some of the most popular rappers, such as NBA YoungBoy. Although, we suppose they have something else we don’t have – a bodyguard.

Bling has always been a symbol of status, and sports stars love to show off their status. Plus, many of them seem to believe that when they buy jewelry, they are buying an investment for the future. It’s certainly an investment they can show off, although one could argue that an actual investment may be better here.

Rare animals

You have probably heard countless stories of top sports stars buying rare animals. Mike Tyson, for instance, was famed for his tigers. You’d also need to hire somebody to look after the animals, which is a whole other expense.

Vacations

Because top sports stars have a very limited amount of time to go on vacation each year, when they do go, they will tend to blow a heap of cash on it. We’re thinking of private islands, private tours of Disney World etc. European soccer players are known to head to places such as Ibiza to party away during the offseason, which in turn leads to these places becoming very popular with regular Joes hoping to catch a glimpse of their favorite players.  

Fashion

You very rarely see a sports star looking bad. Some, like Michael Jordan, even entered the fashion world during their sports careers. While a lot of them are given free clothes from fashion companies (as it looks good to show their clothing off to the world), many of them will be spending a lot on designer clothing, and most will be wearing something different each day. No wonder they need their big mansions – where else would they store their clothes?

The richest sports stars spend their money in ways that we can only dream of. We’re talking mansions, million-dollar cars, fashion and more. However, at least some of them are spending their cash in ways that many of us have done before, such as in casinos. It’s kind of fun knowing that the sports stars you see on TV like a bit of online roulette too, don’t you think?