Report: Former Steelers LB Joey Porter Faces Florida Home Foreclosure

Time and time again we hear about NFL players who have mismanaged their money only to wind up in financial trouble. Unfortunately that has now happened to former Pittsburgh Steelers linebacker Joey Porter, who is reportedly having his Florida home foreclosed on.

Brian Bandell of the South Florida Business Journal reports that 1st United Bank filed a foreclosure lawsuit on March 6 against Porter and his wife over their Broward County home that was built in 2006 and purchased in 2007– the same year he signed a five-year, $32 million contract with the Miami Dolphins. That contract, as Bandell points out, included a $12 million signing bonus and another $8 million guaranteed money.

Hopefully Porter didn\’t fall on hard times because of a gambling problem, but is worth noting that he was arrested in December 2012 and charged with theft and a bad check complaint stemming from $70,000 in IOU markers he owed to the Hard Rock Casino in Las Vegas.

Porter was drafted by the Steelers in the third round of the 1999 draft and played eight seasons in Pittsburgh before being released in 2007 during the off-season. He was quickly snatched up by the Dolphins where her played three seasons. Following his release from the Dolphins in March of 2010, Porter signed a three-year, $24.5 million contract with the Arizona Cardinals that included a $4 million signing bonus. He did not see the final year of that deal, however.

Porter official retired as a member of the Steelers last summer and was honored along with several other former Steelers at the annual Friday Night Lights practice at Latrobe Memorial Stadium.

Keep your fingers crossed that Porter can get all of this straightened out.

  • SG

    If Joey needs money, I’m sure the Steelers will give him a contract this year.

  • LouPGH

    That made my morning. Thanks.

  • Dan

    I’ve never understood why somebody who earns tens of millions and receives individual multimillion dollar payments (like signing bonuses) would ever get a mortgage or pay interest on a loan for anything unless there was an original intention of copping out on the debt from the very beginning.

  • GunsDontKillWoodleyKills

    Sad? Yes. Surprising? No.

  • Gary Vaillancourt


  • Douglas Andrews

    I kicked that around with acouple of buddies of mine too. Makes no sense unless as you say the plan was to pull out at some point.

  • libradad

    Agreed. If I ever hit the lotto, I would pay cash. When I retire start my SS, maybe a reverse mortgage to add a little something each month. He simply got very bad advice, from someone who made a profit off of selling him that bad advice. Something to do with taxes maybe??

  • Tim

    Lets see if that arrogant big mouth of his can get him out of this one, doubtful as it appears life isn’t all on a football field.

  • SteelCity1981

    doesn’t surprise me this happens all the time in sports esp guys that grew up with nothing and then become sticker shocked so to speak when they come into a whole bunch of money at once and spend it like it’s the end of the world.