Stars who lost their millions

2014-11-08 00:00

MANY famous South African sport stars who competed at the highest level have squandered their riches.

South African boxer legend Jacob “Baby Jake” Matlala died broke in December 2013 after a long successful boxing career. So bad were his finances that he had to auction his most treasured possession — the IBA belt he won from legendary American Michael Carbajal.

Last year, sister paper Beeld reported that retired Bafana star Mark Fish refused to move out of his multi-million-rand mansion, which was auctioned off last year after he got into financial difficulties.

In 2011, former Bafana Bafana and Leeds United striker, Phil Masinga, also admitted that he had financial problems.

Masinga scored the goal that took South Africa to their first World Cup in 1998.

He then moved into his late mother’s house in Khuma township, Klerksdorp where he has remained to rebuild his life.

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