Antoine Walker Goes through 99 million

[JB]

Apparently Walker lost everything and is debt up to his eyeballs. According to ESPN, he even owes two casinos over a million bucks still. But that is not the shocker, here is the shocker. According to reports 78% of NFL players are broke within 2 years of retirement. 61% of NBA players are broke within 3 years of retirement.

Surely those figures are swayed by players that play only one or two years, but it is still an astonishing, ridiculous thing to even be discussed.:bulgy-eyes:

 

[Smallville]

Apparently Walker lost everything and is debt up to his eyeballs. According to ESPN, he even owes two casinos over a million bucks still. But that is not the shocker, here is the shocker. According to reports 78% of NFL players are broke within 2 years of retirement. 61% of NBA players are broke within 3 years of retirement.

Surely those figures are swayed by players that play only one or two years, but it is still an astonishing, ridiculous thing to even be discussed.:bulgy-eyes:

Oh well. Not surprising and it is never going to end.

 

[bogeyme]

Apparently Walker lost everything and is debt up to his eyeballs. According to ESPN, he even owes two casinos over a million bucks still. But that is not the shocker, here is the shocker. According to reports 78% of NFL players are broke within 2 years of retirement. 61% of NBA players are broke within 3 years of retirement.

Surely those figures are swayed by players that play only one or two years, but it is still an astonishing, ridiculous thing to even be discussed.:bulgy-eyes:

That number does sound high but I was listening to a talk show, that was talking about this. They mentioned that it's not just the player that is blowing this money it's also the families. How many football wives are use to that $2,000 weekly shopping spree or $500 hair cut and once their man is out of the sport that money starts to go quickly.

 

[JB]

Scott Van Pelt show just used the same numbers on his sports radio show.

 

[C-Tech]

Same thing holds true for lottery winners, a surprising number are broke within a few years of winning all that loot. You cannot buy self control or common sense and, evidently, none of them was smart enough to rent someone who had it.

 

[soxngolf]

I know a lot of players end up getting divorced as well. That usually costs them a pretty penny and ties into that figure.

I also know first hand that Walker was a huge gambler and was a very, very big fan of Vegas. That does not surprise me at all.

 

[SeeMoreGuy]

I beleive many of the athletes and lottery winners are just not "wired" to handle that type of financial responsibility which is why many end up broke. Sure the players along with assistance from family members can run through their money and should have been set for life. Take for example Grant Hill, who is probably the exception but he was predisposed and wired to handle financial success and has done quite well. I beleive alot of it comes from the environment and the exposure or lack thereof received as a youth. Many players surround themsleves with their "boys" who often are just on the professional "teet" like family members and suck the well dry and disappear. Their has to be some educating early on to begin to change this cycle. Knowing who to surround yourselves with is also just as important. I am not sure if the professional sports offer any type of financial prepardness classes or not but maybe they should especially for the rookies. I know they have agents but they are riding the cash cow so to speak as well. It truly is sad and dont get me wrong, I am in no way defending some of the stupid mistakes these millionaires make but the crux of the problem is a lack of understanding the commodity of money.

Just my thoughts.

 

[JB]

Very well said Keith.

 

[dynarider]

Many players surround themsleves with their "boys" who often are just on the professional "teet" like family members and suck the well dry and disappear.

A lot of musicians & rappers..I won't call rap music...are the same way. Gotta have their posse who are nothing but money grubbing lowlifes. MC Hammer blew mega millions on his posse, paying his "friends" huge amounts to do stupid stuff for him.

Mike Tyson's always broke, but then he has 2 things going against him.
#1. He hooked up with Don King who is a pro at ripping off those he manages.
#2. He's an idiot.