Retired Athletes Who Are Still Making Millions

29 March 2014

Retired Athletes Who Are Still Making Millions

Their playing days are over, but their incomes are growing. These are the Retired Athletes Who Are Still Making Millions.

Usually, for a retired person their times of biggest incomes are over, but that’s not the case of some athletes, who continue to earn millions even long time after hanging up their gloves, shoes or helmets.

Even if there are lots of examples where athletes went broke despite having earned millions during their careers, some of them manage to make the same amount of money or even more after they are retired.

And here are the top 10 Retired Athletes Who Are Still Making Millions:

5. Magic Johnson – Basketball – $22 MillionRetired Athletes Who Are Still Making Millions

He is a 5-time NBA champion that retired in 1996 because of a HIV-positive diagnosis, but he wasn’t finished at all.

Actually, in the first month 2014, he along with Mark Walter, purchased the WNBA’s LA Sparks after its previous owners decided they could no longer financially support the franchise.

And it’s been 18 years since he permanently left basketball.

After retirement he continued to make money a business empire that dabbled in food services and staffing, insurance and healthcare. So, sports and business go along very well.

4. Jack Nicklaus – Golf – $30 MillionRetired Athletes Who Are Still Making Millions

Jack or “The Golden Bear” retired in 2005 and this is what he tells about his life:

“Most people work all their lives so they can eventually stop and go play golf. I played golf my whole life, and when I stopped I went to work.”

He started Nicklaus Design 45 years ago and since then, the company has designed 380 courses in 36 countries and 39 US states. And it is still going, as it currently has 55 projects under way, most of them in Asia.

3. David Beckham- Football – $37 MillionRetired Athletes Who Are Still Making Millions

David has retired very recently. He played his last game in May, 2013. You would imagine that since then he went in a vacation and relaxed. If you do, you are extremely wrong.

Since his retirement, he has signed several new contracts, including those with Asian companies: the Chinese Super League, Sands and China Auto Rental.

Most of them were additions to his already existing contracts with H&M, Samsung, Sainsbury’s, Coty and Adidas.

His latest goal is to lay the foundation for a new Miami-based MLS team, purchasing a franchise being one of the perks included in his 2007 MLS signing contract.

2. Arnold Palmer – Golf – $40 MillionRetired Athletes Who Are Still Making Millions

Arnold is now 84 years old and he earns more money than he did when he was playing.

Much of his money comes from The Arnold Palmer line of drinks, a $200 million business that represents roughly 25% of revenues for AriZona Beverage Co.

Also, he has built an empire by licensing his name, particularly in Asia, where there are 400 freestanding stores bearing his name and selling apparel and leather goods.

1. Michael Jordan – Basketball – $90 MillionRetired Athletes Who Are Still Making Millions

Michael, who is considered to be the greatest basketball player of all time, retired in 2013 after earning nearly $94 million.

He played 15 seasons in the league, but even after he was done with that, he continued to earn millions.

Jordan’s hefty earnings are mostly attributable to the incredible success of Nike’s Jordan Brand.

Other partners for Jordan, the man, include Gatorade, Hanes, Upper Deck, 2K Sports, Novant Health and Five Star Fragrances. He also owns seven restaurants, a car dealership and 80% of the NBA’s Charlotte Bobcats.

These men should be an inspiration to us and we should learn how we can still do amazing things after a career is over.

I hope you enjoyed reading this article and I suggest you also check out Highest Paid Athletes in the World 2014.