It is a fact that NBA players are extremely well paid. The NBA has given a lot of money to its players, while some stars from time to time have made almost unbelievable amounts. However, like many things in life, nothing lasts forever! On a rather shocking survey of “Sports Illustrated”, 60% of NBA players go bankrupt within five years of his retirement.
Please find the below list with NBA players which made fortunes in their careers but they could not spend them wisely!
- Antoine Walker: At the age of 20, he was a champion with Kentucky and entered the magical world of the NBA until the No. 6 draft. Until 2010 he played for the Celtics, Mavericks, Hawks, Heat, Timberwolves, and Grizzlies, won a ring (2006), and earned $ 108 million from the contracts he signed. Today he is a bankrupted former basketball star who makes a living from the analysis of the knowledge he has gathered in his “rich” career. In 2009, a year after his retirement, he was arrested for unsecured checks, as his passion for gambling left him with only 5 million in 2010! It was then that he declared bankruptcy, while he did not hesitate to sell the champion’s ring for 22,000 dollars!
- Allen Iverson: Allen Iverson was and remains one of the best people the NBA has ever seen, and that’s why he made millions. Exact life and gambling, however, prevented him from meeting basic needs a few years ago. Thus, when several debts were collected, the court decided to control this financially, at a time when his divorce from his longtime wife further reduced his fortune, which according to the American media had even reached 200 million dollars! His life contract with Reebok (literally no life after it expires) gives him $ 800,000 a year, and when he turns 55, he will be able to collect $ 32 million. To be precise, he will get half, as the other half will go to his ex-wife!
- Vin Baker: Vin Baker had 13 years of experience in the NBA and a gold medal at the 2000 Olympics, before getting involved with his addiction to alcohol. He retired in 2006 and a few years later had already lost nearly $ 100 million over the years. Howard Schultz, CEO of Starbucks, gave Baker a new opportunity. He was hired at one of the well-known coffee chain stores, with the two men knowing each other since the player’s tenure at the Supersonics (1997-2002) when the team was then owned by Sultz. In 2018, the Bucks, whose jersey he wore from 1993 to 1997, gave him another chance, making him assistant coach!
- Charles Barkley: The NBA MVP in 1993 and one of the best forwards in history, he also hides a story full of gambling and many millions. Only this money left his pockets once and for all. Having lost more than $ 30 million in gambling alone, “Sir Charles” shows that he is back on his feet, being one of the members of “Inside the NBA”, and even when he talks about that “dark” era, he doesn’t forget to make fun: “I did not lose 30 million in one night. I lost 1 million every time! ” All this, while he still claims that he lost a lot more because he simply not only lost money but also won! But nothing went to the bank.
- Latrell Sprewell: Lartrell Sprueel played for the NBA for 13 years, entering the top five in 1994 and the All-Star Game four times. With the Timberwolves he made his best progress (as a team), reaching the Western Conference finals in 2004 and his team offered him a three-year contract worth $ 21 million, but he decided in 2005 to retire. He didn’t want any more money, but to spend time and take care of his children, as he himself stated, but it seems that in the course of time he would need this money! Because quite simply, according to a US report, Sprueel was left with about $ 50,000, losing $ 100 million!
- Gilbert Arenas: One of the most talented attacking players since 2000 seems to have had strange tastes and that’s why he lost a fortune of $ 100 million. It is said that 3 times All-Star “paid” (literally and figuratively) for its expensive tastes. In addition to the nearly $ 100,000 a year he donated to his child’s college, Arina spent $ 3.5 million on his $ 3.5 million gardens (!) Home, while his shark’s “aquarium” (yes, he had sharks in it). his house) had expenses of $ 6,000 a month. As a result, out of the 150 million that he had made, he has been left with less than 1/3 of them.
- Tim Duncan: Although he has made over $ 240 million in his huge career, Tim Duncan saw in 2015 lose almost $ 25 million! That’s why we left him last! The Hall of Famer and five-time champion fell victim to fraud, with a business consultant persuading the star to invest several million in bubble operations. Although we’re not talking about huge losses, always in proportion to the money he has earned, $ 25 million is a big hit, especially with the way he came.
- Shawn Kemp: Sean Kemp is one of the brightest names on this list. With more than $ 80 million missings, the six-time All-Star has left the bank with less than $ 5 million. You don’t call him poor, but when your fortune reaches 90, then you have done something wrong. His addiction to cocaine and his seven children from six different mothers made his money irreparable. In fact, in 2008 and while basketball had stopped for two years, he tried to return in order to make more money. No team gave him a contract, something he eventually found in Italy and Premiata Montegranaro but never playing in an official match.
- Jason Williams: Our list ends with Jason Williams, who, although he did not have a special career in terms of achievements, was able to make about $ 63 million in the 10 years of his career. The special thing about the former Sixers and Nets player is that he has lost everything! He has spent several years in prison for financial reasons, but the murder of his driver was what destroyed him. According to what was said in court in 2002, Williams stated that he accidentally shot his employee, as he was too far away and the pistol he was holding accidentally fired. However, there are many who talk about a kind man, who always left a $ 500 tip. That’s how everything is explained.
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