Former NBA Players and Bankruptcy

[Khalid80]

Antoine Walker on 30 for 30's episode entitled "Broke"

[sinobball]

^ sad. I was going to post something to ridicule him but I thought he was genuine in the interview and my sympathies are with him. Also the fact that he has the courage to speak about his mistakes (although he probably got paid...maybe he's THAT desperate?). But from $110M to bankruptcy is completely mindblowing. I mean if he just took $1M (at most) to hire multiple good advisers and buy comprehensive insurance, he'd still be a millionaire.

[Khalid80]

^ sad. I was going to post something to ridicule him but I thought he was genuine in the interview and my sympathies are with him. Also the fact that he has the courage to speak about his mistakes (although he probably got paid...maybe he's THAT desperate?). But from $110M to bankruptcy is completely mindblowing. I mean if he just took $1M (at most) to hire multiple good advisers and buy comprehensive insurance, he'd still be a millionaire.

I think it's those bad investments in real estate property which really hit him hard... I mean the guy is so broke that last season he was living in a shared apartment with one of his D-League teammates (the rent of the apartment was just $915 /month!) as well as making just less than $25,000/season!!! And the saddest thing is that he sold his only NBA Championship ring which definitely means so much for him.

http://articles.orlandosentinel.com/2012-03-20/sports/os-antoine-walker-broke-miami-heat_1_evelyn-lozada-basketball-wives-chad-ochocinco

[Khalid80]

Now it's Allen Iverson's turn

http://sports.yahoo.com/blogs/nba-ball-dont-lie/allen-iverson-loses-atlanta-mansion-foreclosure-auction-according-180700283--nba.html

[sinobball]

Iverson stood during a divorce proceeding in Atlanta in 2012 and pulled out his pants pockets. “I don’t even have money for a cheeseburger,” he shouted toward his estranged wife, Tawanna, who then handed him $61.

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