Former Celtics Star Broke and In Debt.- Antoine Walker

[Stuart G]

Yahoo Sports.

http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Former-Celtics-star-Antoine-Walker-is-broke-and-?urn


you need to scroll down to find this story. It is near the bottom of a series of stories. .

In 12 years, Antoine Walker made more than $110 million playing professional basketball moderately well. Take away taxes, throw in some adidas endorsement money and a "NBA Live 99" cover, and he's left with, what, $60-to-65 million?

Whatever the details, it was a big chunk of change, which, amazingly, wasn't enough.

That's right, during the last several months, the once multi-millionaire athlete has been pursued by multiple financial institutions for unpaid debts.

In fact, according to The Boston Globe, "Employee No. 8" owes more than $4 million to his creditors and is facing felony check fraud charges in Las Vegas. All of this at the age of 33. Wild.

[DrDan]

1. seems like a generous guy . . . but I have a hard time feeling sorry for him

[Stuart G]

3. You and me both..no savings at all. nt

[mule_train]

2. such a degenerate society

you look at who money is thrown at, and what they do with it

and we wonder why our society has stagnated for 40 years

[lapfog_1]

4. 416,000 a month for 12 years. - n/t

[Bobbieo]

5. My mother always said, "You have to teach people to handle money"

Guess she was right!

[JackintheGreen]

6. 60% of NBA players ultimately go broke

according to Buzz Bissinger in yesterday's NYT:

http://www.nytimes.com/2009/10/27/opinion/27bissinger.html?_r=1&scp=9&sq=october+27+2009&st=nyt

[Laelth]

7. Felony check fraud charges in Las Vegas?

Sounds like a possible gambling problem. People can lose a lot of money very quickly in casinos. Sad.

:dem:

-Laelth

[musiclawyer]

8. The Globe and Mail

did a long article last year I think regarding the mandatory training in finances required for all NBA rookies. They either did not offer it then or he missed class. Silve lining, he's probably Exhibit A for all future seminars in the next decade. Some of the young guys will reemember him, and hopeful think before they open their wallet. But I venture to say not all......

[Blue_Tires]

10. SI did a good piece about it earlier this year

it was shocking to me to see how many pro athletes still lose, burn and get swindled from their cash faster than they make it...(and how many still let someone else have complete control of their finances -- wtf?)... especially in this age of 24-hour media, even teenage athletes and their parents are supposedly more tech, media and money-savvy than before but they still make easy marks...

[proteus_lives]

9. Are we supposed to feel sorry for this guy?

He made millions and then squandered it. He's a moron. That's the lesson, save and invest your money.

[Blue_Tires]

11. oh yeah, i forgot walker is also a degenerate gambling addict

here is the full boston globe story:

http://www.boston.com/sports/basketball/celtics/articles/2009/10/25/former_celtics_star_antoine_walker_pursued_by_creditors_as_wealth_vanishes/?page=1