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Five professional boxers who shocked the world by going bankrupt

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Bankruptcy has engulfed sport in recent times [COURTESY]

According to the Merriam-Webster dictionary, Bankruptcy is the quality or state of being reduced to financial ruin. To expound, Bankruptcy is a legal proceeding involving a person or a business that is unable to repay debts.

Sportspersons are among the highest-paid individuals around the world. They fatten their bank accounts with money thanks to their talent and hard work.

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