The high-stakes tragedy of the NFL's most expensive draft bust
In short: He was a superstar quarterback with a golden arm and a legendary pedigree. But behind the bright lights of the NFL, Art Schlichter was spiraling through a decades-long gambling addiction that would cost him his career, his fortune, and his freedom.
In 1982, the Baltimore Colts selected Art Schlichragter fourth overall in the NFL draft, expecting a franchise cornerstone. Instead, they received a cautionary tale. A standout at Ohio State University, Schlichter had been the star of legendary coach Woody Hayes, even prompting Hayes to adapt his famous 'three yards and a cloud of dust' offense to accommodate Schlichter's passing ability. However, the talent on the field could not outrun the compulsions off it.
Schlichter's professional career was derailed by a relentless cycle of betting. During the 1982 NFL strike, he lost $20,000 on college football, a loss that triggered a desperate attempt to 'double up' the following week. By the end of that strike, his debts had ballooned to at least $700,000. His addiction even led him to become an informant; in March 1983, he approached the FBI to help arrest bookies who were threatening him, resulting in a thirteen-month suspension from the league.
The financial devastation was total. Schlichter famously blew through his $350,000 signing bonus by midseason and later estimated he had stolen upwards of $1.5 million from friends and strangers to fund his habit. His career moved through the CFL and the Arena Football League, where he found brief MVP success, but the pattern of betting on games eventually forced his retirement. His legal troubles extended far beyond the stadium, including a ten-year prison sentence between 2011 and 2021 for theft and public indecency.
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- Summary by Intellect · source: Art Schlichter
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