Boxing is a lucrative sport. Many champion boxers have become millionaires. Unfortunately there are cases of world champion boxers (who earned seven, eight, and even nine-figure salaries) going broke. Some lost money to greedy promoters, some to gold digging groupies, some to insensitive girlfriends, some to so called friends and lavish lifestyle.

Here is the 10 biggest boxers that went broke.

10) Rocky Lockridge

This former WBA Super featherweight champion earned $2.5 million during his playing career. Before 2010, many remembered him as a touch boxer who surprised Roger Mayweather with a first-round knock-out to win the WBA super featherweight championship. Today he has become a reality-TV sensation. He was featured on A&E’s Intervention.

9) Wilfred Benitez

Wilfred Benitez is the youngest world champion in boxing history. He won a split decision over 30-year-old Antonio Cervantes for the WBA light welterweight championship when he was just 17. Sadly, today he is confined to a wheelchair and relies on government assistance to survive. His father mismanaged most of the money his son earned by splurging on women, rides and big gifts. He had earned more than $3 million during his playing years.

8) Leon Spinks

Leon Spinks is a former WBC and WBA heavyweight champion. He earned around $4.5 million during his career. The crowning moment of his career came when he defeated Mohammad Ali in 1978 to win the world heavyweight title. Unfortunately by the end of the twentieth century he was homeless. He has had many run-ins with the law and admits he squandered most of his earnings on drugs.

7) Joe Louis

Joe Louis was a heavyweight champion from 1937 and 1949. He earned $4.6 million during his playing career. He was considered an American hero for his service during Second World War. In spite of all these he was ensnared by debt after returning from service; he owed $100,000 in taxes.

6) Iran Barkley

Iran Barkley was a WBC Middleweight, IBF Super Middleweight and WBA Light Heavyweight champion. He earned around $5 million during his playing career. In the year 2010, he was homeless and surviving off of meals provided by friends.