Former manager and player in Major League Baseball, Pete Rose has a $5 million net worth. His playing career with the Cincinnati Reds, where he broke multiple records, is what made him most famous.
But because of his gambling, Rose was permanently barred from baseball in 1989. And since then his overall wealth has fallen from its peak and never really recovered.
- Prison and Probation: Served 5 months for tax evasion, followed by 3 months at a halfway house.
- Gambling Debts: Despite earning $100k+/month from autographs, he allegedly gambled most of it away, accruing casino and IRS debts.
- Continued Gambling: Even after the ban and prison sentence, Rose’s legal documents indicate he did not stop his gambling habit.
Peter Rose Net Worth 2024
Name | Peter Edward Rose Sr. |
Net worth | $5 million |
Peak Net Worth | $9 Million |
Annual Income | $1.7 Million |
Highest Salary | $1 Million (1986) |
Career earnings | $8 million |
Bank Balance | $160,000 |
Debts and Mortgage | $950,000 |
Divorce Settlement
Pete Rose was married to Karolyn Englehardt. The couple tied the knot in 1964 and had two children together, a son named Pete Rose Jr. and a daughter named Chea.
Over the years, their marriage faced challenges, including Rose’s publicized extramarital affairs. Yet, Carol and Pete Rose remained married for over two decades, divorcing in 1980.
As part of the divorce settlement, Pete paid his ex-wife $200,000 in lump sum cash and agreed to pay $100,000 in annual alimony. This further dented his wealth.
Reasons for Financial Struggles
- Health: Deteriorating, with limited mobility and heart condition.
- Job Loss: Fired from FOX Sports after sexual misconduct allegations (lost $550k/year income).
- Financial Strain: Heavy debts, lawyer fees, alimony battle.
- Accusations: Denies underaged relationships and bat-corking, but doubts persist.
- Divorce: Seeking less favorable settlement for ex-wife.
What was Pete Rose’s Salary?
Back in the early days of baseball, Pete Rose didn’t earn much. But as he got better, his pay slowly went up, and by the late 70s, he landed a huge deal for the time – $3.2 million!
Later, when he became manager, he made $1 million a year. Still, even with all that money, if you compare it to what players and coaches make today, it’s not even close. His total career earnings were around $8 million, which sounds like a lot, but in today’s baseball world, it’s not as impressive.
House and Real Estate
Pete Rose recently purchased a $2 million home in Las Vegas, Nevada. The house has a large living room with beautiful views, a very nice kitchen, and a cool backyard with a swimming pool and hot tub. Inside, there is a luxurious movie room.
Ban from Baseball
In 1989, Rose was banned for life from MLB due to allegations of betting on baseball games, including those involving his own team.
The investigation revealed that Rose had placed bets on games while managing the Reds, a violation of the sport’s integrity. Despite multiple appeals and efforts to seek reinstatement, Pete Rose’s ban has not been lifted.
FAQs
Pete Rose’s net worth is estimated to be around $5 million, reflecting both his baseball achievements and financial setbacks due to his gambling ban.
Pete Rose Jr. is currently the manager of the Bristol Sox, the rookie-level affiliate of the Chicago White Sox, located in Bristol, Virginia. He took on this role in November 2023.
Pete Rose wasn’t technically fired, but received a lifetime ban from baseball in 1989 for betting on games, including on his own team, violating MLB’s integrity rules.