Wednesday, October 28th, 2009 at 10:45 pm
It never ceases to amaze how professional athletes, many of whom signed multiple eight figure deals within a ten year span, continuously wind up with debt problems. I suppose it shouldn’t, considering the rampant debt that most Americans face, and the young age at which most athletes are burdened with bazillions of dollars. There’s something depressingly human about just how easily those with everything can turn their financial lives into disasters. According to a report from The Boston Globe, Antoine Walker has been writing bad checks to casinos and has racked up unpaid debts totaling more than $4 million.
It’s unthinkable that Antoine Walker could be broke after all the money he made as an NBA star, and though he has just left the NBA as a professional player, he has already blown through all of it. It’s such a shame too, because he could have done so much with that money to help insure his own future.
Antoine Walker signed $110 million (not including endorsements) in contracts when he was in his prime as a player, and with guaranteed contracts in the NBA, saw every dime of that paid out to him. Of course a chunk when to taxes, but the rest was his to do with as he pleased, and apparently that is exactly what he did. Buying stuff for his family and friends, spending frivolously, and overextending himself led him to first being poor, and ultimately to becoming an alleged criminal. That he turned to writing bad checks in order to fulfill his gambling addiction is the sign of a sick man, and someone should have stood up for him along the way. Shame on the people around him for taking advantage of his gratitude and spending his money for him without putting up any stop signs.