Joe Haden Complaining About Not Having Enough Money Despite Signing $50 Million Contract Doesn’t Sit Right with Fans

Former NFL CB Joe Haden explained why many athletes go broke after retirement despite signing lucrative contracts.

Joe Haden Complaining About Not Having Enough Money Despite Signing $50 Million Contract Doesn’t Sit Right with Fans

Joe Haden (Image via The Sporting News/X)

Former Cleveland Browns and Pittsburgh Steelers cornerback Joe Haden is the latest to speak about player salaries. Haden attempted to break the myth that football players earn a lot of money from their NFL contracts.

The Browns drafted Haden seventh overall in 2010. After spending seven seasons in the backfield of the Cleveland team, the CB signed with the Steelers in 2017. Following the end of the 2021 season, Haden announced his retirement.

In total, Haden made 158 appearances, recorded 615 tackles, 155 passes defended, seven forced fumbles, six fumble returns, and three interceptions. In 2013, he received his first-ever All-Pro and Pro Bowl nods, followed by a couple more Pro Bowl appearances.

According to Spotrac, Haden accumulated roughly $121,471,755 during his 12-season NFL career. That’s enough money to live without any tension for his entire life. However, the 37-year-old downplayed the misconception fans have about him and other football athletes.

People hear $50 million and think you’ve got $50 million sitting in the bank. That’s not how it works. You look up after all that and realize you might only have around $1 million left… You start understanding real quick that a $50 million contract is not actually $50 million.

Joe Haden said on former NFL athlete Tony (Robinson) The Closer’s podcast Get Yo A** Up
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Players drafted inside the first 10 picks always earn more than the rest of the draftees. Haden signed a five-year, $50 million contract with the Browns, with $26 million guaranteed.

Joe Haden Complaining About Not Having Enough Money Despite Signing $50 Million Contract Doesn't Sit Right With Fans
Joe Haden (Image via Pro Football Rumors)

Haden recalled earning $12 million (including a signing bonus) as his first salary, which came to $7 million after taxes. With that, he bought his parents a house and his brothers expensive gifts.

Then he treated himself. Haden bought a penthouse and a couple of luxurious rides (a Range Rover Sport and a Bentley GT). He deposited the leftover $1 million into his bank account.

Unless a player leads a frugal life, they will run out of money quickly. And numerous former players have gone bankrupt due to overspending. To think that landing a big contract means they are settled for life is not always true. Social media reacted to Haden’s revelation.

Cincinnati Bengals quarterback Joe Burrow had a similar experience. He was shocked to discover the amount he received from his contract.

Yo, where’s 12 million gone?

Burrow said

Burrow signed a four-year rookie contract worth just over $36 million, fully guaranteed with the Bengals. After consulting with his agent, the Pro Bowler understood the reason behind it.

Then I realized taxes had already taken a huge chunk of it.

Burrow quipped

He later signed a mouth-watering $55 million per year deal. It’s set to end after the 2027 season.

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