When he was a rookie, Fred Taylor says that the NFL told him to leave his wallet at home for security reasons. He did so and nearly got scammed out of $3 million as a result. What does this mean for other players? How can athletes protect themselves from being taken advantage of by sketchy agents or teams with shady agendas?
The “fred taylor net worth” is a former NFL player who was drafted in the first round of the 1994 NFL Draft. He played for the Jacksonville Jaguars, New England Patriots, and Carolina Panthers during his career.
For many players, the move from college football to the NFL is difficult. Former athletes have told us about terrible incidents early in their careers that influenced them for the remainder of their careers. Fred Taylor, a former Jacksonville Jaguars standout running back, is one of them.
Taylor was selected ninth overall by the Jaguars in the 1998 NFL Draft out of the University of Florida. Despite the fact that the former Pro Bowler went on to have a great professional career, many experiences may have thrown him off course.
Taylor recently revealed how he lost over $3 million in his early career.
Fred Taylor reveals that his first NFL agent cheated him.
The Jacksonville Jaguars’ Fred Taylor on the field against the Tennessee Titans | Kevin C. Cox/Getty Images
Throughout his NFL career, Fred Taylor was one of the most underappreciated running backs. He isn’t being paid what he is owed today, either. During his 13-year career with the Jacksonville Jaguars, he carried for 11,695 yards and 66 touchdowns.
Taylor wasn’t untouchable off the field, no matter how good he was on it. During a recent visit on Bussin’ With the Boys, the former NFL great told a hilarious anecdote about a costly mistake he made during his rookie season.
“First and foremost, I hired my first agent because he is a black man.” I got the chance to travel with Leigh Steinberg. They courted and attempted to recruit me, but I declined. I don’t even feel bad about it.”
Taylor claims he selected Tank Black as his first agent because he believed he could connect to him more on a human level.
Taylor said, “He recruited me like a father figure.” “In 1998, I received a $5 million signing bonus. That was enormous. On my rookie contract, I could have made up to $16 million. I recall seeing $2.8 million move into a bank account after he grabbed the cheque after I signed it. They put the money in an offshore account, which ultimately turned into a Ponzi scam.”
“They’d send me these window records showing what I was receiving in terms of return on investment, which was about $30,000.” Fast forward to the finish, when it turns out to be a Ponzi scam, complete nonsense. My funds were locked. I was able to reclaim around $2 million of it. So I lost $300,000 plus whatever interest I may have earned.”
During his rookie season, he was involved in a Ponzi scam, but it wasn’t the only incident that had a huge influence on his life and football career.
After parting ties with his first agency, Taylor teamed up with Jeff Rubin, a financial expert.
Taylor remarked, “I knew him from college, and a lot of other men knew Jeff.” “He was the first man to say, ‘Hey, I can do this, this, this, and this.’ I was coming off a horrible breakup, and he was the first guy to say, ‘Hey, I can do this, this, this, and this.’ As a result, I employed him. Early on, some investments were relatively cautious and modest, such as mutual funds and other simple investments.”
However, the former running back claims that things began to deteriorate.
“He began shooting at private equity projects.” He arranged for us to be part of a casino venture in Alabama. It seemed like a decent bargain to me. It was a bingo game for a good cause. They were fantastic in Alabama at the time. They set up the casino, then plundered it on our opening night. They claim that this is a shady enterprise. The bingo game is a ruse. That contract was worth $1.6 million to me.”
Taylor went on to say that the casino was shut down, and he was out a lot of cash. As a consequence, the Jaguars star has sued the legal firm and the bank many times.
Taylor admits, “It was horrible, dude.” “I was just with some nasty folks.”
Young players may learn from the Jaguars great, according to him.
Jacksonville Jaguars’ Fred Taylor reacts after their game against the Houston Texans | Ronald Martinez/Getty Images
While Fred Taylor had an immediate impact and shone early in his NFL career, some of his off-field decisions might have thrown him off.
The 46-year-old Florida native didn’t realize what he was getting himself into, putting him in situations where he may be exploited. Taylor feels grateful for what happened, despite the unpleasant circumstances.
Taylor remarked, “I learnt an important lesson.” “I can speak to young athletes about things I can talk to my kids about.” I can go into these speaking engagements and Fortune 500 companies and discuss it with their staff. In retrospect, it turned out to be a gift in disguise. I learnt a lot, and I’m a better person as a result.”
Fred Taylor is a well-liked figure in the NFL, and he’s using his position to ensure that current players and up-and-comers don’t fall into the same pitfalls that almost cost him his job.
Pro Football Reference provided all stats.
Terrell Davis, the Hall of Fame running back, names his top five NFL running backs right now.
Former NFL Star Fred Taylor details how he nearly got scammed out of $3 million as a rookie. He talks about the importance of not trusting anyone, and how it is important to do your research before you invest in anything. Reference: where does fred taylor rank all-time.
Frequently Asked Questions
How much money is Fred Taylor Worth?
A: Fred Taylor net worth is currently estimated at $20 million.
Who is Fred Taylor wife?
A: Fred Taylor is married to Monica Taylor.
How much did Fred Taylor make in NFL?
A: Fred Taylor made $12,000,000 in his NFL career.
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