When it comes to NFL legends, Bernie Kosar is a name that often comes up, not just for his remarkable career but also for his financial journey. As a former quarterback for the Cleveland Browns, Dallas Cowboys, and Miami Dolphins, Kosar accumulated significant wealth during his time in the NFL.
In this article, we’ll dive deep into Bernie Kosar net worth, breaking down his major contracts, salary earnings, and the financial challenges he faced.
Written by Andomoney, this piece also explores how Kosar built his wealth, and the lessons we can learn from his experiences.
Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Bernard Joseph Kosar Jr. |
| Popular Name | Bernie Kosar |
| Gender | Male |
| Birth Date | November 25, 1963 |
| Age | 60 |
| Parents | Geri Kosar, Bernie Kosar Sr. |
| Siblings | N/A |
| Birthplace | Youngstown, Ohio, USA |
| Nationality | American |
| Ethnicity | Hungarian descent |
| Education | University of Miami |
| Marital Status | Divorced |
| Spouse | Babette Ferre (divorced) |
| Children | 4 children (Sara Kosar) |
| Dating | Previously dated Tami Longaberger |
| Net Worth | $2 million (2024) |
| Source of Wealth | NFL Salary, Business Ventures |
| Height | 6 feet 5 inches (1.96 m) |
What is the Net Worth of Bernie Kosar in 2024?
As of 2024, Bernie Kosar’s net worth is estimated to be $2 million. His career in the NFL, along with some business ventures, helped him accumulate this wealth, though financial challenges led to significant losses.
When compared to other athletes, Kosar’s net worth might seem modest, especially considering his earnings during his playing days.
Other famous figures in the NFL or related industries have surpassed him financially, but Kosar remains a significant figure in sports history.
Here are some of the other individuals or entities related to Kosar:
- Dan Marino
- Bill Belichick
- Vinny Testaverde
- Dallas Cowboys
- Cleveland Browns
- Miami Dolphins
- University of Miami
- Super Bowl XXVIII
To learn more about other high-earning athletes, you can explore our list of wealthy NFL players here.
Salary and Finance Overview
Major Contracts and Earnings During His NFL Career
One of the most significant contributors to Kosar’s wealth was his series of high-value NFL contracts.
Upon entering the NFL, Kosar signed a five-year contract worth $5.2 million with the Cleveland Browns, including a $1 million signing bonus. This set the foundation for his financial success early on.
In 1989, Kosar further solidified his financial position by signing a six-year contract with the Browns that could have been worth up to $15 million. However, due to unforeseen circumstances and injuries, he likely earned around $7.5 million from this deal.
Despite being released by the Browns after signing a $27 million contract extension in 1993, Kosar still received $4 million in guaranteed money.
His short stint with the Dallas Cowboys earned him $1 million, and during his final years with the Miami Dolphins, he made between $600,000 and $700,000 annually, depending on performance bonuses.
Financial Troubles and Bankruptcy Filing in 2009
Kosar’s financial journey wasn’t without challenges. By 2009, Kosar filed for bankruptcy, citing $18.9 million in liabilities against $9.2 million in assets.
This drastic downturn in his finances was primarily due to poor investments and personal debts. A significant portion of his financial struggles stemmed from failed real estate ventures and business decisions.
Kosar’s bankruptcy filing revealed shocking details, such as having only $44 in his checking account at the time.
Kosar’s financial troubles are emblematic of the issues faced by many former athletes. Despite earning millions throughout their careers, mismanagement and poor investments can result in significant losses.
Kosar’s story was even featured in ESPN’s 30 for 30 “Broke” documentary, highlighting how prevalent these issues are in the sports world.
Post-NFL Business Ventures and Investments
After his NFL career, Kosar attempted to build on his wealth through a series of business ventures. One notable example is his part-ownership of the Florida Panthers in the NHL.
He also ventured into the restaurant industry, opening a restaurant in Ohio. However, many of these ventures did not yield the returns Kosar had hoped for.
In 2012, Kosar invested in an Ohio farm, purchasing 95 acres for $1.35 million. Unfortunately, like many of his investments, this venture was not as successful as anticipated.
Kosar also attempted to launch a magazine and get involved in philanthropic efforts. These post-career activities contributed to his financial instability, but they also demonstrated his desire to maintain a stable financial life outside of football.
Awards, Achievements, and Career Highlights
Kosar’s accomplishments on the field were impressive, particularly in college, where he led the University of Miami Hurricanes to a national championship in 1983.
His performance in the Orange Bowl earned him MVP honors, further cementing his place in college football history.
In the NFL, Kosar’s most notable achievement was winning Super Bowl XXVIII with the Dallas Cowboys in 1993. Although he was a backup quarterback during that season, his contribution was valuable.
Kosar also set a record for most consecutive completed passes without an interception, which stood until Tom Brady broke it in 2010.
FAQs About Bernie Kosar
How did he make most of his money?
Kosar made most of his wealth through his NFL salary, earning around $19 million throughout his career. Post-retirement, he also ventured into businesses like restaurant ownership and investing in sports teams.
What teams did he play for in the NFL?
Kosar played for the Cleveland Browns, Dallas Cowboys, and Miami Dolphins during his 12-season NFL career.
Did he win any Super Bowls?
Yes, he won Super Bowl XXVIII with the Dallas Cowboys in 1993, serving as a backup quarterback during the game.
What are his post-NFL business ventures?
Kosar’s post-NFL ventures included part-ownership of the Florida Panthers, opening a restaurant, and purchasing an Ohio farm. However, many of these ventures did not achieve great financial success.
What awards and achievements did he earn during his career?
Kosar earned Orange Bowl MVP honors, led the Miami Hurricanes to a national championship in 1983, and set a record for most consecutive passes without an interception in the NFL.
Conclusion
Kosar’s financial journey is one of ups and downs, with significant NFL earnings followed by financial struggles. If you found this content insightful, feel free to leave a comment or share it with your network.
For more in-depth analysis of celebrity finances, visit andomoney.com.
