Net Worth Ranker
What Is Jim McMahon’s Net Worth?
Jim McMahon, a former professional American football quarterback, has accumulated a net worth of $10 million. His career spanned 15 seasons in the National Football League (NFL), marking him as a significant figure in the sport. McMahon’s financial standing is primarily attributed to his earnings during his professional football career, augmented by endorsements and potentially strategic investments made post-retirement. His net worth reflects not only his on-field success but also his savvy in managing and growing his wealth over time.
Early Life and Collegiate Career
James Robert McMahon Jr. was born on August 21, 1959, in Jersey City, New Jersey. He was raised in San Jose, California, from the age of three, and played football as a freshman and sophomore at Andrew Hill High School. McMahon completed his secondary education at Roy High School in Roy, Utah, graduating in 1977. These formative years in sports laid the groundwork for his future professional career. He attended Brigham Young University (BYU), where he showcased his athletic prowess in both football and baseball. Initially a punter for the football team, McMahon transitioned to the starting quarterback role in 1978 after an injury to Marc Wilson. His performance led to him earning two Western Athletic Conference (WAC) Player of the Week honors. In 1980, he led the Cougars to the WAC title, setting 32 NCAA records. BYU led the nation in total offense that year. McMahon concluded his collegiate career with another strong season in 1981, passing for 3,555 yards and 30 touchdowns, leading BYU to another WAC title and a Holiday Bowl victory. He was named WAC Player of the Year for the second consecutive year, also earning the Davey O’Brien Trophy and the Sammy Baugh Award, and he shared the Pigskin Club NCAA Offensive Player of the Year Award with Marcus Allen. McMahon returned to BYU in 2010 to finish his degree and graduated in 2014 with a communications degree.
NFL Career: Chicago Bears (1982-1988)
In the 1982 NFL Draft, Jim McMahon was selected by the Chicago Bears as the fifth overall pick in the first round. As a rookie, he quickly ascended to the starting quarterback position. In the strike-shortened 1982 season, he nearly guided the Bears to the playoffs. By the 1983 season, his passing skills had noticeably improved, but the Bears narrowly missed playoff contention. Although he had a promising start to the 1984 season, his progress was cut short when he sustained significant injuries, including bruised ribs and a lacerated kidney, due to a forceful tackle by Los Angeles Raiders defenders. In 1985, McMahon and the Chicago Bears achieved a historic season, finishing with a remarkable 15-1 record. They secured a decisive victory over the New England Patriots in Super Bowl XX with a score of 46-10. In this game, McMahon made history as the first quarterback to rush for two touchdowns in a Super Bowl. His 1986 season was hampered by injury, causing it to end prematurely. In 1987, he led the Bears to an 11-4 record, but they lost to the Washington Redskins in the playoffs for the second consecutive year. In 1988, his final season with the Bears, McMahon guided the team to a 12-4 record, though they were defeated in the NFC Championship by the San Francisco 49ers.
Throughout his tenure with the Chicago Bears, McMahon’s salary and contract details were confidential at the time. It is speculated that his earnings were commensurate with his position as a starting quarterback and a Super Bowl champion. This would translate to a considerable income stream contributing to his overall Jim McMahon net worth.
NFL Career: San Diego Chargers (1989)
In 1989, due to tensions with Bears president Michael McCaskey and head coach Mike Ditka, Jim McMahon was traded to the San Diego Chargers. In his single season with the team, the Chargers had a record of 6-10. McMahon’s interactions with teammates, front office staff, and head coach Dan Henning led to his release after the season. Details regarding McMahon’s contract with the Chargers were not widely publicized, but it is assumed that he received a substantial salary, consistent with his status as a seasoned NFL quarterback, which would have added to his net worth. The specifics of his compensation during this period are not publicly available. In terms of any potential home he may have had in San Diego, this information is not currently known.
NFL Career: Philadelphia Eagles (1990-1992)
Jim McMahon joined the Philadelphia Eagles in 1990, where he experienced a resurgence in his career. He led the team to a 10-6 record and was awarded the NFL Comeback Player of the Year. McMahon played for the Eagles for two seasons. While specific contract details from his time with the Eagles are not readily available, his performance likely earned him a respectable salary, contributing to his overall financial position. The exact figures, however, remain undisclosed. During his time in Philadelphia, McMahon may have resided in a rented property or a home purchased within the city or its surrounding suburbs. However, there is no publicly accessible documentation providing details on properties owned or rented by Jim McMahon during his time with the Eagles. His time with the Eagles included the following seasons and records. In 1990 he led the Eagles to a 10-6 record and won the NFL Comeback Player of the Year Award. In 1991 he served in a backup role.
NFL Career: Minnesota Vikings (1993) and Arizona Cardinals (1994)
In 1993, Jim McMahon played for the Minnesota Vikings, where he led the team to eight wins and a return to the postseason for the first time in five years. The Vikings were eventually defeated by the New York Giants. In 1994, he played for the Arizona Cardinals, making his final career start in Week 3 against the Cleveland Browns. Details regarding McMahon’s contracts with the Vikings and Cardinals are not publicly accessible. His earnings would have been in line with his role and experience in the league. There is no publicly available information on the financial terms of his agreements with either the Vikings or the Cardinals. Public records regarding his residence during his time with the Vikings and Cardinals are not available.
NFL Career: Green Bay Packers (1995-1996)
Jim McMahon concluded his NFL career with the Green Bay Packers from 1995 to 1996. In his final season, the Packers won Super Bowl XXXI against the New England Patriots, marking his second Super Bowl title against the same team he faced in Super Bowl XX. During his stint with the Green Bay Packers, McMahon’s contract details were not publicly disclosed. His salary was most likely reflective of his role and NFL experience. There is no data available on the financial details of his agreement with the Packers. There is no publicly available information about McMahon’s residence during his tenure with the Green Bay Packers.
Legal Troubles
Jim McMahon has faced legal issues since retiring from the NFL. In 2003, he was arrested for driving under the influence in Florida. Additionally, in 2012, he was among those involved in a case related to Chicago’s Broadway Bank, concerning $104 million in bad loans. It is not publicly known whether McMahon faced legal penalties. It’s important to note that the outcomes of these situations and any associated financial settlements or legal fees are not publicly disclosed, thus their impact on Jim McMahon’s net worth cannot be determined.
Health Struggles
Jim McMahon has dealt with health issues stemming from his football career, including memory problems and headaches related to concussions. In 2012, he was diagnosed with early-stage dementia, although his condition improved with treatment. McMahon uses medical cannabis for chronic pain and arthritis and serves as a spokesperson for the drug. The specific costs associated with Jim McMahon’s healthcare, including treatments for dementia, pain management, and other health-related issues, are not publicly available. The details of his medical expenses remain confidential.
Real Estate
In February 2010, Jim McMahon acquired a home in Scottsdale, Arizona, for $1.224 million. He sold the property in October 2021 for $2.045 million. This real estate transaction resulted in a profit of $821,000 before taxes and selling expenses. The sale of his Scottsdale home contributed positively to his net worth. While the exact details of his other real estate holdings are not publicly accessible, it is assumed he may have other assets that contribute to his financial portfolio.
