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Chicago Bulls legend Dennis Rodman earned about $27 million through his contracts while he played in the NBA. Adjusted for inflation, it roughly amounts to $43 million today. However, there was a time when Rodman had to declare bankruptcy even after earning large sums throughout his career. 

Rodman certainly earned millions in his NBA career. He obviously spent it as any other NBA player would. But the Worm fell victim to the type of players who are not able to adjust their lives post retirement.

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Dennis Rodman wins big!

Many players tend to go bankrupt after retiring from the league. They have a hard time adjusting to a simpler lifestyle after living lavishly during their time in the NBA. Rodman too was a victim of that. 

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Dennis Rodman loved his trips to Vegas. So much so that he took one during the NBA Finals one time, which has been extensively covered in Michael Jordan’s ‘The Last Dance.’ According to his close friend Dwight Manley, money for Rodman was incidental.

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He once said, “He makes $2.5 million a year and doesn’t save a penny.” The 5-time champion met Manley at a craps table at the Mirage in Vegas. And that is where their friendship started. Manley was a rare-coin dealer from Southern California. He mentioned that Rodman had the tendency to drop around $30,000 on his trips to Vegas.

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The Worm was supposed to stay in Vegas for a few days but ended up spending around five weeks or so. He also mentioned that the five-time NBA champion had once won $72,000 in a single sitting during his time in Vegas. Yet, he did not save any of it and eventually had to declare bankruptcy.

How Rodman went from a millionaire to bankrupt

One of the many reasons why Rodman had to declare bankruptcy was child support. He was involved with a lot of women back then. Due to that, he had to pay about $860,000 in spousal and child support.

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A couple of other reasons were that he had gotten scammed by a fake sports agency back in the day. He paid a total of $1.5 million in fines during his career as well. Today, Rodman’s net worth is a mere $500,000 which is nothing compared to what it should be for an NBA legend.