Lawrence Taylor: The Rise, Fall, and Giant Financial Struggles of a Football Legend

By Jason Bolton May 30, 2024 10:09

Lawrence Taylor, nicknamed "L.T.," is a former American professional football player born February 4, 1959 in Williamsburg, Virginia. He enjoyed remarkable success during his career, as he led the New York Giants to two Super Bowl victories and earned a reputation for being one of the finest linebackers ever to play the game. But his off-the-field life was troubled by money problems and an untamed personal life.

Lawrence Taylor — The Spectacular Career

Lawrence Taylor overcame many obstacles as he rose to football fame. LT may not have dedicated his time to organized football until the 11th grade, but he stood out when on the field and thus attracted a college -scholarship from the University of North Carolina. His unique talents and work ethic resulted in a very successful NFL highlight still to this day as one of the most devastating forces on any team during the 1980s. Taylor left his mark on the field — pulling in several individual awards such as NFL MVP and Defensive Player of the Year.

He had a run to remember with the New York Giants, including key plays that led to their Super Bowl win in 1986. By contrast, Taylor earned $15.5 million over a remarkable career that saw the off-field demands of being an NFL player match the best years on the field for which he is synonymous.

Legal Problems and Financial Worst-case Scenarios

But as great as Taylor was, his life away from football is a different story. His financial problems expanded following his retirement from the game, when his business All Pro Products, Inc. took a sizeable hit because of fraudulent activity which resulted in Taylor losing hundreds of thousands of dollars. Not only that but a troubled personal life that included legal issues as well as substance abuse; such incidents include multiple drug arrests and tax evasion conviction
His legal troubles came to a head as he was arrested for criminal sexual conduct with a 16 year old girl, later pleading guilty and was sentenced to six years of probation.

Downfall and Financial Constraints

What made Taylor's demise even sadder was his issues with drug addiction and money woes. Despite collecting millions during his career, which covered more than a decade and included wins in multiple weight classes, Taylor squandered most of it due to extended legal battles as well as lost commercial opportunities caused by various controversies. He declared bankruptcy and had trouble making ends meet while still under the thumb of support payments.

Future for LT

The saga of Lawrence Taylor is all about the thorns along with the roses that come attached to being: a famous individual. He won numerous awards and earned millions of dollars, but the rest of his life was fraught with money problems, legal battles, and personal troubles. The Lawrence Taylor story is a good example of the dangers involved in living on the financial edge and how it can shape your cost basis for retirement. A very real reminder that even the highest-paid athletes in the world can still be human just like all of us.