8. JaMarcus Russell – $45 Million

As the 2007 Sugar Bowl MVP, JaMarcus Russel was quickly picked up by the Oakland Raiders. After signing to a $61-million contract, Russel earned most of the promised 5-year salary within three seasons. In addition to being the only a four-time ‘SEC Offensive Leader of The Week’, he was named ‘Touchdown Club SEC Player of The Year’ (2005), and earned a ‘Manning Award’ in 2006.

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Today, he’s considered the second-worst first pick in NFL history (right after Ryan Leaf, who was sentenced to 5 years in prison for braking into someone’s home to steal pain killers.) Russel became the mascot for ‘Purple Drank’ – a mixture of grape soda and cough syrup – after being arrested for ‘drank driving.’ He didn’t officially announce bankruptcy but the IRS sure did – a recent report revealed Russel’s government debt, which adds up to $200,000 in back taxes and late fees.