One of the perks of being a pro athlete apart from fame is money, loads and loads of money. And the NBA stars are no exception when it comes to huge paychecks.
NBA teams have a simple formula for its players: Benefit the team, and the team will benefit you. If you can demonstrate your skills well, you will be awarded with a big fat contract, often close to nine figures.
However, for whatever reasons, the inflow of huge cash can utterly numb the player’s mind when it comes to managing their finances. Be it their lavish lifestyle, terrible business decisions, or their own behavioural issues, some of the players can’t keep majority the cash they’ve made.
Here is a list of the basketball stars who are poorer than they should be.
1. Latrell Sprewell
We might need a more intense word than ‘short-tempered’ when describing former Golden State player Latrell Sprewell. His downfall started in 1997 when he choked his coach during practice and was suspended for 68 games.
Moreover, when he declined an offer of $21 millions by the Timberwolves saying “I've got my family to feed”, his NBA career ended. After consequently losing his $1.3 million yacht and both of his mansions, Sprewell found himself to be worth $50,000 even after making $100 million during his career.
2. Eddy Curry
This NBA star joined the broke club when he was still in the NBA. His money would go down the hole faster than he made it. From being rubbed at a gunpoint, being charged with sexual harassment for $5 million, and being unable to default on his loan of $580,000 at 85% interest rate, Curry wasn’t just keeping eye on his cash.
Curry even paid $16000 monthly allowance to friends and relatives - a sweet gesture, but it had a huge consequence. By 2009, his $6.2 million mansion was in foreclosure due to $220,000 in mortgage payments, despite earning $70 million throughout his career.
3. Darius Miles
The 6’9’’ player is a perfect example of ‘too young to have it all.’ He was selected by the Los Angeles Clippers directly out of the high school and offered a $9 million contract. He even had an endorsement deal with Michael Jordan’s athletic brand and even acted in some movies.
However, all his money was gone before he even realised. He was sued for child support in 2010 and had to sell one of his homes in 2014. In 2016, he filed for bankruptcy even after earning nearly $62 million in his NBA career. It showed his liability greater than his assets that included his 13 homes.
4. Vin Baker
Once a NBA player with millions of dollars in his bank, Baker even served customers in Starbucks after losing it all. During his 13-year career in the NBA, he banked nearly $100 million. However, due to myriad of financial troubles and struggle with substance abuse, he lost all of his fortune.
In 2008, Baker’s Connecticut home was foreclosed and put up for sale for $2.3 million. After going broke, he asked his former SuperSonics boss, Howard Schultz, for help and consequently got a job at Starbucks. Nowadays, As of 2018, he works as an assistant coach for the Milwaukee Bucks.
5. Sheryl Swoopes
It’s not only men who aren’t good in handling their money. The first player to be signed in the WNBA, Swoopes was a winner of three olympic gold medals. She made over $50 million only from her sneaker line, Nike Air Swoopes.
However, she was really extravagant with her spending. Moreover, she was reportedly screwed over by agents and lawyers. Due to underlying financial pressure, Swoopes filed for bankruptcy in 2004. She even had to auction off her prized possessions including olympic medals.