Broke NBA Players

[DirtyKash]

You guys read the story of Rumeal Robinson?

How Hoops Hero Rumeal Robinson Lost His Guns, Cars, Stripper Girlfriend... and Even His Mama's House - Miami News - Riptide 2.0

He made more than $5 million in NBA salary alone, but blew much of it on a strip club habit that would have made Pacman Jones blush. "He would go on binges of two whole weeks where he spent $20,000 a night at a strip club," says Barrows, his brother. "Not only that, but he'd also have a bunch of the strippers come back to his place, get buck naked, and clean his house for $500 or $1000 each."

Robinson hasn't filed a tax return since his NBA days, and when he was deposed by lawyers trying to figure out his finances, Robinson claimed his net worth was "zero." Having been evicted from his Aventura condo, he was bouncing between motels and living on "$20 here or there."

Barrows, who lived in Miami until recently, recalls spending an evening with his brother in 2007: "He pulled up in a brand new Mercedes SL500. He asked me if I had $20 for gas. He took me to seven or eight strip clubs, starting with Tootsie's. He would buy a Coke and nurse it for an hour or two, and I didn't see him give a dollar to the dancers."

He's had to give up Ducati motorcycles, a Maserati, and a $10,000 fully automatic M16 machine gun, among other things. He now bounces between Biscayne Boulevard budget motels, claiming to have "no money" or possessions besides a change of pants, according to a deposition he gave last year.

He fails at life.

[realmofotalk]

Former Celtics star Antoine Walker pursued by creditors as wealth vanishes - The Boston Globe

I couldn't decide on which details about Antoine Walker's troubles were most important, but the potshot at Rick Pitino will do:

As Rick Pitino, then the Celtics president and coach, put it, Walker “will never have to worry about money again in his life.’’

Pitino’s prediction, like so many things about his tenure with the Green, proved way off the mark.

[Slyder]

Its amazing how many guys in professional sports are so wasteful with their money. I think especially now with all the move toward going pro earlier and earlier that youll hear more and more stories like this one.

[DirtyKash]

Next on the list of broke NBA players who like to gamble their money away while getting wasted: Allen Iverson!

Stephen A. Smith: Iverson needs more than a prayer | Philadelphia Inquirer | 03/07/2010

[DirtyKash]

SPORTSbyBROOKS » Ex-NBA Player Busted: Weed ‘Between Buttocks’

[DirtyKash]

Ex-NBA Star Derrick Coleman Files For Bankruptcy - Bankruptcy Beat - WSJ

Sad stuff. Derrick Coleman of Syracuse fame is now almost $5 million in debt.

[DirtyKash]

Detroit Pistons 'Bad Boy' Mahorn says he's broke | detnews.com | The Detroit News

These former NBA players are falling like dominoes.

[DirtyKash]

Antoine has officially filed for bankruptcy.

May 28, 2010
Ex-NBA All-Star Antoine Walker files for bankruptcy

Antoine Walker, the three-time NBA All-Star who made about $110 million during his 13-year career, has finally faced up to his financial woes and filed for bankruptcy.

Walker worked out a payment plan last year with Las Vegas casinos after he was arrested for writing $1 million in bad checks. But he since was hit with a $2.3 million foreclosure lawsuit on a Chicago-area property he purchased for his mother.

Walker, 33, lists liabilities of $12.74 million and assets of $4.28 million in his filing, according to Crain's. (Via ChicagoBusiness.com) The assets include his 2006 NBA championship ring, valued at $6,000. The petition also lists nearly $650,000 in gambling losses in 2008-09.

[Foster]

BAHAHAHHAHAHAHHAHAHHA

I feel no sympathy.

[Slyder]

Since people can't go straight out of high school into the NBA maybe the NCAA ought to require in the first year of studies that players (of all sports) take basic financing courses and they must pass these courses in order to qualify for their sport? Try to keep this number from growing exponentially?

[Saber]

Stupid reporters. An M16 isn't a machine gun. It's an automatic rifle. Also, I wonder how he got the class 3 dealer license to get that thing.

[Kingdom]

'Toine is re-broke?