Each one of the Denver Broncos will receive a nearly $100,000 bonus for winning the Super Bowl. And while that’s not as large a windfall as the $2 million bonus quarterback Peyton Manning is pocketing for the team’s victory over the Panthers, it’s not pocket change either. ‘That’s a big number for some of the journeymen players,’ said Michael Bapis, managing director at the Bapis Group at HighTower. ‘They need to look at the plans they already have in place and figure out where this money best fits in.’ Nearly 16% of players in the National Football League have filed for bankruptcy 12 years after retirement, according to a recent paper from the National Bureau of Economic Research. Bapis’ firm advises a number of athletes from the major professional sports leagues. He said the root of the bankruptcy problem is that many athletes receive huge lump sums of money at very young ages and are ill-prepared to deal with it.
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