5 broke retired NBA players
It is widely known that most players in the NBA make a lot of money, and if you have a lot of money it is easy to keep spending it even after they retire. At one point, 60% of NBA players file for bankruptcy within five years of retirement. We have selected five different players who went broke after retiring from the NBA.
Honorable mention – Allen Iverson
Iverson is the only player on this list that is not actually broke, though he did spend a lot of his money. Reportedly, he lost over 200 million dollars, but he is still about a million in the plus. Besides that, he has a trust fund that will open up to him when he reaches the age of 55, which will be in 2030.
5. Dennis Rodman
Dennis Rodman made about 27 million dollars over the course of his basketball career. Despite that, in 2014, Rodman filed a document to the court that he was broke and wasn’t able to pay his child support. This was an amount of 808.395 dollars at the time.
4. Shawn Kemp
Kemp also made a lot of money during his career, which was about 90 million in salary and about 11 million from endorsement. But during the years, he fathered seven children by six different women. The child support for those children plus his drug-related issues made an end to his wealth.
3. Scottie Pippen
Scottie Pippen can be seen as one of the most financially irresponsible NBA players. He has made a lot of stupid financial decisions that did not turn out that well for him. The most known example is the fact that Pippen once bought a 4 million dollar jet, but it did not even work.
2. Latrell Sprewell
Sprewell is another player that made more than 100 million dollars in his career, but he has also lost most, if not all of it. Over the years, he had to auction off his yacht and two of his mansions were foreclosed.
1. Antoine Walker
He was a successful player for the Celtics, Mavericks, Hawks, Timberwolves, Grizzlies and Heat, making around 100 million dollars over the course of his career. Unfortunately, his money was spent on legal fees, his gambling debt and the fact that his wife spend most of his money. He even had to sell his Heat Championship ring. Luckily, his life is looking better now as he has gotten himself out of that debt.