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  Topic: From player to pauper: How NBA
star blew through $110MILLION
in just two years and was forced
to file for bankruptcy when
career ended
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From player to pauper: How NBA
star blew through $110MILLION
in just two years and was forced
to file for bankruptcy when
career ended

Daily Mail [UK], by Staff

Original Article

Posted By:KarenJ1, 10/3/2012 11:10:26 AM

NBA star Antoine Walker blew through the $110million he earned in a successful basketball career so quickly that he was forced to file for bankruptcy just two years after he retired. Walker, who was forced to come out of retirement and play in the obscure development league, says bad real estate deals, gambling debts and 14 years of living the high life have left him all but broke today. It is a far cry from his glory days in the NBA, where he was named to the all-star team three times and won a championship in 2006.

Comments:
Another brilliant guy from the NBA. s/o I can't even comprehend blowing through $110 million dollars. You would have to work really hard to spend that kind of money. It's just shocking.

      


Post Reply  

Reply 1 - Posted by: ivehadit, 10/3/2012 11:14:04 AM     (No. 8906603)

Shame on the NBA! And while I'm at it, shame on the NFL! This is yet another example of how the culture of celebrity is IRRESPONSIBLE and lacking in ANY grounding. It is HARMING our country. Young people look up to these sad souls as if they are heroes. THEY ARE NOT.

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Reply 2 - Posted by: Jethro bo, 10/3/2012 11:17:33 AM     (No. 8906611)

Look on the bright side. At least he went bankrupt with HIS money. Unlike the Dear Leader that is bankrupting us all on our dime.

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Reply 3 - Posted by: shamus, 10/3/2012 11:28:28 AM     (No. 8906633)

Obama's next Treasury Secretary!

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Reply 4 - Posted by: JimS, 10/3/2012 11:28:44 AM     (No. 8906634)

So, Antoine is as financially irresponsible as Obama?
Don't they teach basic economics in the 'hood? You can't spend more money than you take in. You can't spend more money than you have.

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Reply 5 - Posted by: Peaches, 10/3/2012 11:29:05 AM     (No. 8906636)

You'd think athletes would learn, but they seldom do.

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Reply 6 - Posted by: Quigley, 10/3/2012 11:32:24 AM     (No. 8906644)

That's nothing compared to lil teleprompter's profligacy.

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Reply 7 - Posted by: BaseballFan, 10/3/2012 11:33:38 AM     (No. 8906646)

That's chump change when you consider how a certain political 'star' blew through $6 TRILLION in just four years.

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Reply 8 - Posted by: tenncon231, 10/3/2012 11:40:55 AM     (No. 8906661)

Well I guess he can apply for a free OBAMA PHONE now!!

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Reply 9 - Posted by: mc squared, 10/3/2012 11:41:32 AM     (No. 8906665)

Why is this surprising to anyone? My grandmother had a bigoted term for it.

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Reply 10 - Posted by: nosillod, 10/3/2012 11:41:41 AM     (No. 8906666)

If I owned a professional sports team, I'd hire someone to be a life coach for these guys. Teach them about managing money, dealing with fame, women etc. I would want to protect my investment. It's easy to say what an idiot these guys are, but they have no training in this stuff and are easy prey for people to leach off of. Most boxers and many actors and actresses and recording artists fall into this situation too.

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Reply 11 - Posted by: secondtimelucky, 10/3/2012 11:43:14 AM     (No. 8906670)

no - they do not teach economics in the hood. I've often wondered how I would handle a huge windfall of money - like a lottery win. People are seldom equipped to deal with this, particularly when you factor in hangers-on, gambling, stupid business deals and sneaky management.

these stories are all too common - you would think that at least the major sports associations (or even the individual clubs) could offer financial management advice to the players. None of them are truly capable of handling this kind of income...

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Reply 12 - Posted by: WIBadger, 10/3/2012 11:43:18 AM     (No. 8906671)

I didn't even read the article but I can guess: paternity suits/child support, grifters, bad advice & living beyond his means.

Idiot !

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B-G1


 
Reply 13 - Posted by: Vaquero45, 10/3/2012 11:47:17 AM     (No. 8906676)

Boo-effin'-hoo.

Life is tough. It's a lot tougher if you're stupid.

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Reply 14 - Posted by: fayebeck, 10/3/2012 11:48:37 AM     (No. 8906682)

Antoine shoulda been NIGGARDLY with his money.

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Reply 15 - Posted by: KingBubo, 10/3/2012 11:53:48 AM     (No. 8906693)

Perhaps instead of exploting them, perhaps the Universities should actually encourage the athletes to learn something.

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Reply 16 - Posted by: rael, 10/3/2012 11:55:12 AM     (No. 8906701)

Who cares? Guy's an idiot. Comes right back to sports players are way overpaid for what they do.

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Reply 17 - Posted by: bdcaruba, 10/3/2012 11:55:42 AM     (No. 8906705)

NBA has them, #10. Satch Sanders is one of them. He may have run into Walker a time or two, he played 13 years for the Celtics.
P.S. Walker is a punk.

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R_DBL_B
  


 
Reply 18 - Posted by: mickturn, 10/3/2012 11:59:24 AM     (No. 8906724)

Fools and their money are soon parted. They should have mandatory financial management classes, that way it's not someone else's fault...

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Reply 19 - Posted by: Redneck In NY, 10/3/2012 12:09:21 PM     (No. 8906749)

Financial responsibility and economics is for whitey, if a black tries to understand this in the hood, they are immediately labeled an Uncle Tom, because apparently ghetto culture dictates that blacks must have no responsibility for anything. Thank you LBJ!

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Reply 20 - Posted by: DaddyO, 10/3/2012 12:16:47 PM     (No. 8906767)

ESPN 30 for 30 covered this last night.. most NBA players file bankrupcy a couple years after retiring. And it's not just the NBA, it's all sports.

Players don't keep track of where their money goes. Players spend too much. Players give money to friends to invest which they lose or steal.

One guy even got a note on his birthday from his mom, saying she wanted him to give her $25k or their relationship would be over.

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Reply 21 - Posted by: plex, 10/3/2012 12:16:49 PM     (No. 8906768)

What I cannot understand is why seemingly sane people fork over the huge ticket prices to see these knuckleheads bounce a ball around the court. The only difference between this waste of money and the government's is the optional nature of the funding. There are so many better uses for the money (taxes or tickets).

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Reply 22 - Posted by: stablemoney, 10/3/2012 12:19:11 PM     (No. 8906781)

Antoine is young and strong. Get a job and shut up.

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Reply 23 - Posted by: tennisbum, 10/3/2012 12:19:27 PM     (No. 8906782)

Watch the documentary BROKE on ESPN. It has a cross-section of sports stars both black and white who lost millions. I do not feel sorry for any of them.

The blacks spent their money on cars, houses, liquor, women and lots of bling not to mention child support...9 children by 9 different women, Evander has 11 children. When they received their checks, it was a signal that they were to spend it all cause another one was coming next month....then the checks ceased!!

Kosar and Shilling spent theirs on real estate and other flimsy business ventures but at least they didn't have a posse to support plus an assortment of "baby mamas".

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Reply 24 - Posted by: dman, 10/3/2012 12:47:29 PM     (No. 8906852)

One might think that the leagues and/or players' associations would provide mandatory financial counseling to these athletes. Don't they? Poverty is a mindset. It takes more than large checks to overcome it.

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Reply 25 - Posted by: wlit22z, 10/3/2012 12:53:05 PM     (No. 8906863)

Who cares about these dumb bells?
Stupid is as stupid does applies to all of them.

I don't feel even one drop of sympathy for anyone who is that stupid with his own money. Just don't be stupid with my money!

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Reply 26 - Posted by: thethirdruffian, 10/3/2012 12:59:05 PM     (No. 8906875)

Reminds me of Obama, except Obama has done it with 6 TRILLION dollars in 4 years.

Maybe this guy could get Bernake's job.

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Reply 27 - Posted by: halfnorsk, 10/3/2012 1:02:44 PM     (No. 8906885)

You can take the boy out of the 'hood, but you can't take the 'hood out of the boy.

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Reply 28 - Posted by: bassman, 10/3/2012 1:03:23 PM     (No. 8906889)

Where are the stories about Corzine with other people's money??

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Reply 29 - Posted by: PageTurner, 10/3/2012 1:06:19 PM     (No. 8906895)

A fool and his money...

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Reply 30 - Posted by: TOOTALL, 10/3/2012 1:30:49 PM     (No. 8906953)

I think the Colleges and Universities where these budding superstars are groomed owe them an education, so they can make responsible financial decisions when the time comes. This kid came from Kentucky, who is now the pinaccle of college bball. Few of their kids last more than one or two years before they go the NBA, but the University makes plenty of money off them until they do!

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Reply 31 - Posted by: Britvah1, 10/3/2012 2:06:11 PM     (No. 8907034)

I pay no attention to basketball. This is a white guy,right? /s

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Reply 32 - Posted by: ranger06, 10/3/2012 2:19:50 PM     (No. 8907074)

This actually illustrates a good point - just become someone is financially successful does not mean they are "smart" - having the skills and ability to be a popular actor, athlete, professor, investor ect.. does not mean you can think critically and make optimum choices.

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Reply 33 - Posted by: pineledger, 10/3/2012 2:34:39 PM     (No. 8907104)

Now eligible for free phone.

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Reply 34 - Posted by: p chuck, 10/3/2012 3:28:24 PM     (No. 8907229)

At least these people are creating jobs through their excess consumption. It's a shame, but if you are never held accountable, that what happens!


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Reply 35 - Posted by: reilly, 10/3/2012 3:41:47 PM     (No. 8907254)


Most of the time in Boston he was a selfish ball hog, not much of a team player on defense, and a whiner with the refs. This isn't surprising. Number One went to his head.
Maybe Obama will invite him to play hoops.


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Reply 36 - Posted by: Japanorama, 10/3/2012 5:56:10 PM     (No. 8907466)

Give him a job in the Treasury Department.
He'll fit right in.

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