{"id":152338,"date":"2025-06-23T14:02:13","date_gmt":"2025-06-23T14:02:13","guid":{"rendered":"https:\/\/www.rawchili.com\/nfl\/152338\/"},"modified":"2025-06-23T14:02:13","modified_gmt":"2025-06-23T14:02:13","slug":"nfl-great-chad-johnson-on-the-unusual-way-he-saved-money","status":"publish","type":"post","link":"https:\/\/www.rawchili.com\/nfl\/152338\/","title":{"rendered":"NFL great Chad Johnson on the unusual way he saved money"},"content":{"rendered":"\n

Listen and subscribe to Opening Bid on Apple Podcasts<\/a>, Spotify<\/a>, Amazon Music<\/a>, YouTube<\/a>, or wherever you find your favorite podcasts.<\/p>\n

When it comes to saving a buck, there are legends, and then there is NFL great Chad “Ochocinco” Johnson<\/a>, who lived in the team facility for two years before being busted.<\/p>\n

\u201cI was very financially conscious and didn\u2019t care,\u201d he told Yahoo Finance Executive Editor Brian Sozzi<\/a> on the Opening Bid<\/a> podcast during the Cannes Lions festival (see video above; listen below).<\/p>\n

Johnson played for 10 seasons as a wide receiver with the Cincinnati Bengals and for one season with the New England Patriots. In 2001, he signed on to the Bengals for $3.09 million, and in 2007, he signed a $34.85 million six-year extension. Johnson was frugal from the get-go as he sought to not go broke like many of his fellow celebrity sports stars.<\/p>\n

\u201cI don\u2019t come from much,\u201d he said. \u201cWent to college, bounced around from school to school, and I [got] to an NFL stadium. I finally [got] drafted. My childhood dream finally [came] true.\u201d<\/p>\n

For many athletes, managing money can prove challenging.<\/p>\n

ProFootball Network <\/a>reports that the average annual salary of an NFL player is $2.8 million. Yet a Sports Illustrated article<\/a> revealed that in 2009, 78% of NFL athletes faced bankruptcy or other financial stress around two years into their retirements.<\/p>\n

\"CINCINNATI, Former player Chad “Ochocinco” Johnson looks on during the second quarter between the Washington Commanders and the Cincinnati Bengals at Paycor Stadium on September 23, 2024, in Cincinnati, Ohio. (Dylan Buell\/Getty Images) \u00b7 Dylan Buell via Getty Images <\/p>\n

Within 12 years of retirement, one in six were expected to go bankrupt, according to the article. Culprits included a lack of financial literacy, bad investments, lifestyle creep, and paying for things that don\u2019t ultimately serve a greater financial good, such as an entourage.<\/p>\n

Now-infamous examples<\/a> of athletes getting themselves into financial hot water include former wide receiver Andre Rison of the Cleveland Browns, who went broke despite nearly $20 million in earnings, and former quarterback Michael Vick, who played for the Atlanta Falcons and ended up with prison time for a dogfighting scandal. Vick declared bankruptcy and managed to somewhat extricate himself from the scandal by playing with teams such as the Jets and Steelers.<\/p>\n

The phenomenon isn\u2019t new, either. Johnny Unitas, who had a storied career as a quarterback, retired in 1991. Unitas invested $3.5 million in a tech company that was thought to be promising and instead went belly up. Unitas had to declare bankruptcy as a result.<\/p>\n

When Johnson was drafted, he took up a real estate agent\u2019s offer and toured several impressive potential homes. But they didn’t meet his expectations. \u201cI think to myself, there\u2019s really no point,\u201d he said. \u201cThis really makes no sense.\u201d<\/p>\n

Story Continues <\/p>\n

What made better sense for Johnson was staying in the stadium facility. \u201cThey have everything I need there: showers, cafeteria, players’ lounge.”<\/p>\n

\"NFL <\/a> <\/p>\n

His secret couldn\u2019t last forever, though.<\/p>\n

After two years, \u201c[head coach] Marvin Lewis came in and realized, \u2018Well, how the hell are you always here first,\u2019\u201d he said. By that time, Johnson was headed for his third NFL season, and Lewis had some advice. \u201cHe said, \u2018It\u2019s time to be a man. You\u2019re grown. You have responsibilities,\u2019\u201d said Johnson, who then got his own place.<\/p>\n

Johnson\u2019s legacy includes telling upstarts, \u201cThere\u2019s no need to show off. Whoever you\u2019re trying to impress, they\u2019ve already googled how much you make,\u201d he said. \u201cThe value is in your name.\u201d<\/p>\n

Three times each week, Yahoo Finance Executive Editor Brian Sozzi<\/a> fields insight-filled conversations and chats with the biggest names in business and markets on Opening Bid<\/a>. You can find more episodes on our video hub<\/a> or watch on your preferred streaming service<\/a>.<\/p>\n

Grace Williams<\/a> is a writer for Yahoo Finance.<\/p>\n

Click here for the latest stock market news and in-depth analysis, including events that move stocks<\/a><\/p>\n

Read the latest financial and business news from Yahoo Finance<\/a><\/p>\n