Sports glory is often fleeting. Players come in with high expectations, and even when they reach the greatest heights of their craft, time always eventually catches up. Often, when the limelight fades, the rough times hit the hardest.
Former tennis player Arantxa Sánchez Vicario is in the middle of those rough times. During a career that spanned from 1986 to 2004, she won 14 Grand Slam titles, including three French Open Singles tournaments and one U.S. open Singles tournament. She had an exciting rivalry with Steffi Graf during the 1990s, and in October of 1992, Sánchez Vicario reached No. 1 in the world rankings.
Yet despite more than $16.9 million in prize money and more than $60 million in career earnings, Sánchez Vicario appears to be nearly broke. And she's currently on trial for fraud, facing up to four years in jail time and millions of dollars in restitution.
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Sánchez Vicario and her ex-husband Josep Santacana are being accused of hiding assets so they wouldn't have to pay the Banque de Luxembourg $8.14 million.
During the trial, Sánchez Vicario claimed she's paid back $2.04 million to the bank and continues to send half of her paychecks to pay off the debt. To make money, she gives private tennis lessons and sometimes helps organize tournaments or serves as a commentator for the sport.
In her 2012 memoir, ¡Vamos! Memorias de una lucha, una vida, y una mujer, Sánchez Vicario wrote that her parents had lost about $60 million of her career earnings. In an open letter to Spanish media, Sánchez Vicario's mother says the family never did anything with her money and "under no circumstances is she broke."
Santacana also said he hasn't kept any money from his ex-wife. Santacana has previously indicated that the money exists in a Swiss bank account, and Sánchez Vicario has access to the assets.
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Per Yahoo, Sánchez Vicario testified at a Barcelona court earlier this month. "I did what he told me to do because I am a tennis player. I have no knowledge of assets or companies or anything. I trusted my husband," she said.
In 2009, the Supreme Court ordered Sánchez Vicario to pay about $5.5 million as a fine for tax fraud. The ruling stated that between 1989 and 1993, Sánchez Vicario claimed she lived in Andorra when she really lived in Spain, where tax rates are higher.
A civil court trial followed in 2014, as Banque de Luxembourg claimed the debt was never paid. The Spanish civil court ruled in favor of the bank, but after no money was received, the bank moved to the criminal courts. Now, Sánchez Vicario stands to lose even more money after an excellent tennis career.
The highs in sports are wonderful — but the lows can be truly devastating.
