It might seem hard to believe now, on the heels of Travis Kelce's recent $100 million New Heights podcast deal (not to mention his lucrative endorsement deals and numerous other investments), but the star tight end for the Chiefs nearly went broke his rookie year, and he did it in the Kelce-est of ways.
Remember that this was in an era before NIL money took over college football. When Kelce was drafted in the third round of the 2013 NFL draft, his deal was for a modest four-year, $3.12 million rookie contract, with a signing bonus of $703,304.
But that's still a pretty nice chunk of change for a 23 year old from Cleveland Heights, Ohio.
And although Travis Kelce may have learned his lesson during his college years about excessive partying and marijuana consumption, his financial acumen was still pretty immature at this point.
So to celebrate his first football paycheck as a professional, Kelce decided to live his (and many other kids of the 80s and 90s) childhood dream and purchase a pair of Marty McFly's Nike Air MAG self-lacing shoes from Back to the Future Part II.
In an inspired case of life imitating art, the famous sneakers from the film were replicated and produced by Nike in extremely limited release — and predictably became a hot commodity with a hefty price tag.
Travis Kelce got them for $10,000, which was fairly cheap compared to other celebrity athletes like Anthony Davis (who spent $70,000 on a customized pair of the same shoe). Another pair sold in an auction for $200,000.
The sneakers in themselves didn't empty Kelce's bank accounts, but they were a “gateway buy” to other extravagant expenditures.
He also bought a Rolex with that first paycheck. And what good are fancy shoes and an expensive watch if you're not going to go be seen around town in them?
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So Kelce quickly spent thousands more dollars at night clubs on expensive VIP bottle service, and — wouldn't you know it? — when the excitement of being draft in the NFL wore off, Kelce realized his apartment was bare and he barely had enough money left to pay his rent.
This story is all too familiar for athletes, but luckily in Travis Kelce's case, he learned to reel in his spending habits early in his career with the help of a financial adviser. These past few years he's also benefitted from the financial guidance of his savvy girlfriend, the most powerful pop star on the planet Taylor Swift. But if you're struggling with your finances this holiday season, it must at least be heartening to know that one of the biggest stars in the world once did too.