Former Raven Lewis not alone in bankruptcy
Paul Nussbaum, chair of the Business Reorganization and Bankruptcy Litigation section, was featured in an article in the Daily Record, May 30, 2012, about the recent bankruptcy of Jamal Lewis:
“The term of their income, the years that they generate income … has a shorter lifespan than a doctor or a lawyer or even a movie star,” said Nussbaum. “When they are no longer working … they are saddled with a great deal of debt.”
“With professional athletes, you have young adults who are given massive contracts with a lucrative revenue,” said Nussbaum. “It’s likely that the level of maturity given their age coincides with a degree of responsibility and consequently there’s a higher propensity for frivolity in their spending.”
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