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What Was Aaron Hernandez’s Net Worth?
At the time of his death in 2017, Aaron Hernandez, the former New England Patriots tight end, had a reported net worth of approximately $50,000. This figure starkly contrasts with the substantial earnings he accumulated during his professional football career. During his legal battles, particularly his murder trial, it became evident that Hernandez was facing severe financial difficulties. He was reportedly attempting to liquidate assets, including his house and Hummer, to cover mounting legal expenses. This financial strain underscored the rapid decline of his once-promising financial situation.
Aaron Hernandez’s Football Career Earnings and Contract Details
Aaron Hernandez’s professional football career, though brief, generated significant income. During his time in the NFL, Hernandez earned an estimated $11 million in salary. A substantial portion of these earnings stemmed from the lucrative contract extension he signed with the New England Patriots in August 2012. This five-year deal was valued at $40 million and included a guaranteed $16.5 million, with a signing bonus of $12.5 million. His base salary in his first NFL season was $540,000. Hernandez was slated to earn $1.3 million in 2014, $2.3 million in 2015, $5 million in 2016, and $6 million in 2017, before his release. The Patriots successfully refused to pay Hernandez $3.5 million worth of guaranteed money, a $1.323 million base salary, and an $82,000 workout bonus. However, his career was cut short due to legal issues, preventing him from realizing the full financial potential of the contract. It’s estimated that Aaron missed out on at least $30 million in potential future money due to his off-the-field troubles.
Early Life and College Football Career
Aaron Josef Hernandez was born on November 6, 1989, in Bristol, Connecticut. He quickly gained recognition for his exceptional athletic abilities. In high school at Bristol Central High School, Hernandez set multiple state and national records as a wide receiver. His outstanding performance earned him the title of Connecticut Gatorade Football Player of the Year during his senior year. His football journey continued at the University of Florida, where he played for the Gators from 2007 to 2009. Hernandez was recognized as a first-team All-American and received the John Mackey Award, solidifying his reputation as one of the top tight ends in college football. Before going pro, Hernandez left college with 111 receptions for 1,382 yards and 12 touchdowns. Hernandez decided to forgo his senior season to enter the NFL draft.
NFL Career with the New England Patriots
The New England Patriots drafted Aaron Hernandez in 2010. Despite his exceptional college performance, he was selected 113th overall in the fourth round. This lower draft position was attributed to concerns surrounding his personal conduct and controversial tendencies during his college years. Upon joining the Patriots, Hernandez quickly demonstrated his skills on the field. He formed a formidable tight end duo with Rob Gronkowski, which became renowned as one of the most successful pairings in NFL history. Throughout his NFL career, Hernandez accumulated 175 receptions for 1,956 yards and 18 touchdowns. His first NFL season saw him earn a base salary of $540,000. In August 2012, Hernandez signed a 5-year, $40 million contract with the New England Patriots that came with $16.5 million in guaranteed money and a $12.5 million signing bonus. A variety of lucrative bonuses based on performance and playing time could have also been earned had he been able to stay on the field.
Legal Troubles, Murder Conviction, and Estate Insolvent
In June 2013, Aaron Hernandez’s career and financial stability were abruptly halted when he was arrested and charged with the murder of Odin Lloyd, a semi-professional football player. The New England Patriots immediately released Hernandez following his arrest. He was also sued for allegedly shooting Alexander Bradley in the face at a Miami club and soon became under investigation for a double murder that took place in Boston in 2012. In August 2013 he was indicted. In 2015, he was found guilty of first-degree murder and sentenced to life in prison without the possibility of parole. While incarcerated, Hernandez faced further legal challenges, including an indictment for a double homicide that occurred in 2012, although he was later acquitted of these charges in 2017. At the time of his death, Hernandez’s estate was insolvent, with his home in North Attleborough, Massachusetts, being sold by the county to repay outstanding debts. In November 2012, Aaron paid $1.3 million for an 8,130-square-foot home in North Attleborough, Massachusetts. In January 2018, around nine months after his death and after several years of foreclosure, the property was sold for $1 million. The home was not sold by Aaron’s estate. It was sold by the county, with the proceeds used to repay various debts and court costs. The sale resulted in a loss of approximately $300,000.
Death and CTE Diagnosis
Aaron Hernandez’s life ended on April 19, 2017, when he committed suicide in his prison cell. After his death, Boston University researchers conducted an examination of his brain and diagnosed him with stage 3 chronic traumatic encephalopathy (CTE). This diagnosis sparked renewed discussions and concerns about the long-term effects of repeated head trauma in football players. It was declared that repeated head trauma, including two confirmed concussions suffered while playing football, was the contributing factor to his poor judgment, lack of impulse control, paranoia, and aggressive behaviors. After the release of the study, Hernandez’s fiancée and daughter sued the NFL and New England Patriots, holding them responsible for Aaron’s death and for depriving them of their relationships with him. But the suit was dismissed in February 2019 because the deadline to opt out of the class action suit against the league had passed.
Estate Settlement and Financial Aftermath
Aaron Hernandez did not leave behind a will, adding complexity to the management and distribution of his assets. At the time of his death, it was reported that he was owed as much as $6 million in guaranteed salary and bonuses by the New England Patriots. Following his release from the team and subsequent conviction, the Patriots sought to avoid paying the guaranteed money, citing various clauses within the contract. There were rumors suggesting that Hernandez’s suicide might have created a loophole that would compel the Patriots to pay at least his $3.5 million bonus to his estate. This speculation was based on the idea that his suicide technically vacated his conviction, potentially obligating the Patriots to honor the financial obligations. By 2020, it was revealed that the Patriots had reached a settlement with his estate under undisclosed terms. The settlement came a year after Massachusetts’ highest court reinstated his conviction. In 2020, the Patriots received a $2.55 million credit towards their salary cap, which many speculated to mean that the team settled the case for $1 million.
