Net Worth Ranker
What Is Albert Haynesworth’s Net Worth?
Albert Haynesworth, a retired American football defensive tackle, has a net worth of $500 thousand. This figure reflects his earnings from a 10-season NFL career, subsequent financial decisions, and legal challenges. It’s a stark contrast to the substantial income he earned during his playing days, highlighting the financial pitfalls that can plague even high-earning athletes.
Albert Haynesworth’s Career Earnings and Contracts
During his NFL career, Albert Haynesworth accumulated approximately $57 million in earnings. His initial contract was a 6-year, $9.1 million deal with the Tennessee Titans, marking his entry into professional football. In July 2008, he secured a 1-year, $7.25 million contract with the Titans, showcasing his rising value as a defensive player.
In February 2009, Haynesworth signed a 7-year, $100 million contract with the Washington Redskins, a deal widely considered one of the worst in NFL history. This contract included $41 million in guaranteed money, an unprecedented sum then. However, his performance didn’t justify the investment. In 20 games with the Redskins, he recorded 53 tackles and 6.5 sacks, ultimately earning $38 million before being released.
His final NFL contract was a 2-year, $8.7 million deal with the New England Patriots in 2011, further adding to his career earnings, albeit briefly.
Early Life and Collegiate Career
Albert Haynesworth III was born on June 17, 1981, in Hartsville, South Carolina. He attended Hartsville High School, where he excelled in football, amassing 150 tackles and 56 tackles for loss during his junior year. This performance made him a highly sought-after college recruit.
At the University of Tennessee, Haynesworth played for the Volunteers football team under head coach Phillip Fulmer. As a letterman for three years, he recorded 66 tackles, 20 tackles for loss, five sacks, and nine pass deflections, setting the stage for his NFL career.
NFL Career: Tennessee Titans
In the 2002 NFL Draft, the Tennessee Titans selected Haynesworth in the first round with the 15th overall pick. His tenure with the Titans was marked by both on-field performance and off-field incidents. In 2006, during a game against the Dallas Cowboys, Haynesworth stomped on the head of Cowboys center Andre Gurode, resulting in a five-game suspension without pay, the longest suspension for an in-game incident at the time.
Despite these issues, Haynesworth had a strong season in 2007, ranking second on the Titans with six sacks and earning his first Pro Bowl selection. After the 2008 season, he didn’t re-sign with the Titans, leading to his move to the Washington Redskins.
NFL Career: Washington Redskins
As an unrestricted free agent in 2009, Haynesworth signed a seven-year contract with the Washington Redskins. Despite early enthusiasm, his time with the Redskins was troubled. He skipped offseason workouts, struggled with fitness tests, and ultimately failed to meet performance expectations. In December 2010, he was ruled out for the remainder of the season due to his poor performance and attitude. His signing with the Redskins became widely regarded as one of the worst free-agency moves in NFL history.
During his time with the Redskins, Haynesworth’s behavior and lack of commitment were heavily criticized. Former teammate Chris Cooley described him as an “awful human being,” suggesting that Haynesworth’s primary motivation was financial gain without putting in the necessary effort. The Redskins received minimal return on their substantial investment, highlighting the risks associated with high-value contracts.
NFL Career: Patriots and Buccaneers
Haynesworth’s final NFL season was in 2011, split between the New England Patriots and the Tampa Bay Buccaneers. His time with the Patriots was short-lived, lasting just over three months before being waived in November after an altercation with an assistant coach. Shortly after, he was claimed by the Tampa Bay Buccaneers, where he finished the season before being released in February 2012, effectively ending his NFL career. These brief stints contributed minimally to his overall career earnings but added to the narrative of a career derailed by off-field issues and inconsistent performance.
Legal Problems and Financial Implications
Throughout his career, Haynesworth faced several legal issues. In 2006, he had warrants for his arrest due to a traffic incident. In 2009, he was indicted on misdemeanor traffic charges for speeding and causing an accident that partially paralyzed a man. These incidents led to legal fees and settlements, impacting his financial stability.
In 2010, a stripper filed a $10 million lawsuit against him, alleging he impregnated her and failed to provide financial support. He also faced charges for reckless boating and domestic assault. These legal battles further strained his finances and contributed to the decline in his net worth.
Real Estate and Investment Losses
In May 2017, Albert Haynesworth purchased a home in Franklin, Tennessee, for $630,000. He later sold this property in July 2020 for $705,000, realizing a modest profit. However, this gain was likely offset by other financial losses and expenses.
Details of other real estate holdings or investment losses are not publicly available, but it is plausible that poor investment decisions and mismanagement of funds contributed to the decrease in his net worth from millions to $500 thousand. Financial mismanagement, including poor investment choices and extravagant spending, is a common issue among athletes who experience a sudden influx of wealth.
Worst Contract in NFL History: A Detailed Breakdown
The 7-year, $100 million contract signed with the Redskins in 2009 remains a significant factor in understanding Haynesworth’s financial trajectory. The $41 million in guaranteed money was intended to secure his commitment and performance, but it ultimately became a financial burden for the team. The Redskins received minimal return on their investment, as Haynesworth’s performance and behavior deteriorated rapidly.
Even before the season started, there were red flags. Haynesworth skipped offseason workouts and struggled to pass basic fitness tests, taking 10 days and four attempts to meet the team’s conditioning standards. This lack of preparation and commitment foreshadowed his disappointing performance on the field, further solidifying the contract’s reputation as one of the worst in NFL history.
Net Worth Decline and Financial Struggles
The decline in Albert Haynesworth’s net worth can be attributed to a combination of factors, including the infamous Redskins contract, legal issues, poor financial decisions, and an overall lack of financial planning. Despite earning $57 million during his NFL career, his current net worth of $500 thousand reflects a significant loss of wealth.
The legal settlements, fines, and other expenses associated with his off-field behavior likely consumed a substantial portion of his earnings. Additionally, it is plausible that he made poor investment decisions or was the victim of financial scams, further contributing to the decline in his net worth. Without careful management and strategic investments, even substantial earnings can be quickly depleted.
The contrast between his career earnings and current net worth serves as a cautionary tale for athletes and others who experience a sudden increase in wealth. Financial literacy, responsible spending habits, and sound investment strategies are crucial for maintaining long-term financial stability.
