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Started From The Bottom… Now I’m Back

April 1, 2013

NBA players! A lot of them have to overcome poverty and a lifestyle based on a minimum of luxury. It’s not a surprise when those guys gets multimillion dollar deals, they don’t have any clue how to manage these sums of money.

The NBA is aware of this problem, roughly sixty percent of NBA players file for bankruptcy after five years of their retirement. That’s why the NBA installed a Rookie program to teach young players how to handle themselves and their money. This program has helped a lot of young players. Still, there are players who have to support their family and friends.

When a guy wins the lottery a lot of these so-called friends expect to live large too, leeching off of their NBA buddies. Those are the sad stories of the NBA. Here are other players who are to blame…and those who got ‘robbed’ by their friends.

Jason Caffey

 

Caffey made an approximately 35 million dollars in his NBA career. You should think that’s enough money to buy a condom once in a while. This dude has ten kids with eight women and failed to support his kids, which made him file for bankruptcy.

Kenny Anderson

 Anderson had a succesful NBA career, racking up 63 million in his 14 years in the league. He wasn’t as fertile as Jason Caffey, he ‘only’ had 7 children with 5 women. Kenny had to pay 40,000 dollars a month of child allowance. He went broke and he was forced to get his college degree. Kudos to Anderson because he succeeded and he’s trying to turn his life around.

Derrick Coleman

Watch him slam it on Shaq !!

One hell of a talent, but never really lived up to his expectations. Nevertheless, he had a solid career. Coleman tried to do something with his 87 million dollars by trying to invest in real estate. He tried to upgrade a Detroit area, so actually Derrick was trying to do something in his community. The economic recession hit Detroit hard and all of his investments went down the drain.

Antoine Walker

 Walker earned 110 million dollars over his career and lived large. The problem here were his so-called friends. He supported 70  friends/relatives and his entourage always flew first class and stayed at five star hotels. Walker always paid every check and before he even knew, his bank account was empty. He was framed by one of his friends when he gave him a large amount of money to upgrade a living area in his hometown Chicago. Because of his financial problems, he was forced to play in a foreign basketball league.

 Scottie Pippen

Pippen tried to be a businessman but failed miserably. To give you an idea about his instincts: He bought a 4 million dollar private jet that didn’t work. He later had to spend another million dollar to make sure the jet worked.

Latrell Sprewell

 We all know Latrell turning down a three-year 21 million dollar deal, because he said the famous words “I got a family to feed”. It looks like he better accepted the deal. Outside of the fact he never played in the NBA again, he had to sell his Milwaukee house and his yacht for half of the original price.

Allen Iverson

 What a career! But unfortunately it didn’t have a storybook ending. Not so long ago a court judge ordered Allen to pay over 800,000 dollars to a jeweler. We all know A.I. loved bling bling, but not to the point he’d go broke over it.

According to basketball-reference.com, Allen Iverson made 154,494,445 dollar over his brilliant career. Seemingly he’s under the 800k right now.

Iverson was traded away from Philly and the focus shifted from his on-court brilliance to his off-court bagage. The ego, the domestic turmoil, the arguments with coaches and his love-hate relation with practice. 

 He never had a problem with conditioning, ‘The Answer’ always was the quickest guy on the court for 48 minutes. But speed doesn’t last through age and when signs of decline hit him, it him hard. He didn’t went all Vino like Kobe Bryant, instead he bickered about playing time and his reduced role. In no time, the 6 foot guard out of Georgetown was out the league.

His lifestyle remained though. His entourage was simply nuts. Every home game he bought around fifty game tickets, most of them for his hometown buddies from the Virginia area. His barber traveled with him and worked his hair two to three times a week. And of course, every single one of his friends was blinged out wearing diamonds all over.

Allen once said he owed every one of them because they were the ones that kept him alive when he was younger. Now it seems, they’re the reason Iverson is looking at a lot of debts.

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