From entourages to insane investments to big-ticket luxury items,
basketball pros love to spend their hard-earned cash. But while they're the highest-paid
participants in American sports, they're also the most likely to go broke after retirement.
These are the NBA players who wasted their millions.
Shed no to tears for Michael Jordan and his $2.1 billion net worth.
Before Kobe Bryant's "mamba mentality," The Jordan Rules governed the NBA.
If God exists, he played shooting guard for the Chicago Bulls, according to Jordan rival and
Celtics legend Larry Bird. But MJ allegedly had a hard time turning off the insatiably
competitive GOAT vibes outside the lines, and reportedly developed a nasty gambling habit,
losing over $1 million dollars to a single golfing partner, according to former golfing
opponent Richard Esquinas in his memoir, Michael and Me: Our Gambling Addiction... My Cry for Help.
In 1992, Jordan was forced to reveal his gambling habit on the witness stand when a
$57,000 personal check ended up in the hands of a suspected drug dealer and small-time golf hustler
named James "Slim" Bouler, according to the Chicago Tribune. Teammate Scottie Pippen
even revealed how Jordan once gifted him a set of golf clubs his rookie year in 1987.
He told the the off-camera producer of The Last Dance:
"Yeah, he was trying to lure me in so he could take all my money."
Six-time NBA champion Scottie Pippen
was drastically underpaid during much of his hall-of-fame career.
According to CBS Sports:
"[He signed] the worst contract in NBA history."
The deal was so bad for Pippen that he essentially refused to play much of the '97-'98
season. Maybe that's why he reportedly became known to friends as "no tippin' Pippen." But
the thrifty sports star got his, signing a massive $67.2 million deal in 1999 that put
him $20 million ahead of Michael Jordan in career cash, earning $109 million in total NBA salary.
Pippen is also often listed among the most financially reckless players in NBA history,
with false reports claiming the former forward was bankrupt.
But it's just one legendary loss that started this alleged notion:
in 2002, Pippen bought a $4 million private jet that didn't actually fly — then paid another $1
million to fix that minor issue. He won a hefty lawsuit over the flying fiasco and also filed
a suit against media outlets that claimed he was broke, with his attorneys saying:
"Scottie never filed bankruptcy."
According to his attorneys, he had a net worth of approximately $40 million at the time.
Dennis "The Worm" Rodman was one of the NBA's all-time most colorful characters,
getting as much attention for marrying himself, and his relationship with Madonna,
as his historic rebounding prowess. The former Chicago Bull and five-time NBA
champion raked in a modest $27 million in career earnings and retired in 2000.
But by 2012, his off-court antics - which eventually included a budding friendship
with North Korean dictator Kim Jong-un - had depleted that tidy sum. Rodman was, quote,
"broke" and "extremely sick," according to court documents obtained by the Los Angeles Times,
explaining how Rodman was unable to pay over $800k in delinquent child and spousal support.
His attorneys revealed they were working pro-bono, while Rodman's manager added:
"[Dennis’] well-documented drinking problem,
and all the stress from the divorce and not seeing his kids isn't helping."
After reportedly being scammed by a financial advisor,
Rodman's net worth dwindled down to $500,000.
NBA on TNT analyst Charles "Chuck" Barkley is a man of many appetites - and one of them is risking
his $50 million net worth. If that sounds like a lot of cash, consider "Sir Charles" earned nearly
$40 million in NBA contracts and was a pitchman for brands like Nike, Coca-Cola, and McDonald's.
“I’m a bad boy.”
Furthermore, Charles reportedly earns $1.5 million a year for his work as an NBA analyst,
which began in 2000. So, some of his millions are clearly missing.
The "Round Mound of Rebound" has admitted that it's his penchant for high-stakes gambling that
cost him, telling ESPN in 2007 that he once lost $2.5 million in a single six-hour sitting:
"It's a stupid bad habit. I have a problem. But the problem is when you can't afford it.
I can afford to gamble. [...] I like to gamble and I'm not going to quit."
“What do you like about gambling?” ” Well, uh winning. It’s exciting to win money.”
However, by Barkley's own estimate,
he's dropped the ball on nearly $30 million in Las Vegas casinos alone.
Former NBA MVP Allen Iverson was widely reported to have spent the majority of
his nearly $250 million in career earnings after stories surfaced in 2012 that a judge
in Georgia had seized his bank account over a staggering $859,896.46 bill for jewelry.
We lost, man. Aint a whole bunch to that.”
AI's money troubles came from the usual suspects:
his entourage and reckless monthly bills. But generosity may have also cost "The Answer."
In 1998, teammate Larry Hughes complimented Iverson's new Bentley, saying:
"Yo AI, I have to get me one of these."
According to Iverson's now-legendary account in The Players' Tribune, he responded:
"Bro, you can have mine."
Iverson simply gifted the $250,000 whip on the spot. Another famous story involved Iverson's
hatred of packing for road games - he'd reportedly buy new clothes at every stop and then give them
away or leave the swag behind in his hotel room. However, reports of Iverson's fiscal
doom were apparently overstated. Not only does AI qualify for the NBA's generous $8000
a month pension plan at age 45, but, according to the New York Post, Iverson set up a $32 million
retirement cushion. Anonymous sources tell the outlet AI already gets $1 million a year from
the fund and is prohibited from touching the principle until he turns 55 - in the year 2031.
Welcome to Starbucks, how may I help you?
Those are words Vin Baker probably never saw in his future as the four-time All-Star raked in
over $100 million in 14 NBA seasons — mostly with the Seattle Sonics.
Baker told the Providence Journal in 2015:
"I was an alcoholic, I lost a fortune. I had a
great talent and lost it [...] I have to pick up the pieces."
Baker's substance abuse cost him a further $36 million
in salary when he failed a drug test in 2003. By 2006, he was out of the league,
after covering his alcoholism for years by drinking Listerine.
Baker wrote in Guideposts:
"My struggle with alcohol began during my earliest days as a pro player and lasted
until I hit rock bottom in 2011. By that point, I was broke and living at my parents'
house [...] drinking a gallon of cognac a day and waiting for the alcohol to kill me."
When he eventually got sober, Seattle Supersonics owner and
Starbucks billionaire Howard Schultz helped him start over.
J.R. Smith - a.k.a. "J.R. Swish" was a streaky shooter, who racked up over $90 million in career
cash. But his juvenile antics were his downfall. He was fined $50,000 in 2014 for repeatedly
untying opponents' shoes during games. He also once reportedly ordered $3,000 of room service
and simply piled up the uneaten plates, just because, according to Yahoo! Sports.
It was the former Cavs guard's cavalier attitude that cost him most, though. When he signed with
the Knicks in 2012, despite having earned $25.6 million in NBA salary at that point,
he was supposedly flat broke, per ESPN. So broke he went abroad during the 2011 NBA lockout,
inking a single-season deal for nearly $3 million and becoming the highest-paid player in Chinese
basketball history. But Smith's behavior in China was apparently just as erratic.
He reportedly skipped practices and was even accused of faking a knee injury.
The team fined him over $1 million after repeated warnings, according to New York Daily News.
Latrell "Spree" Sprewell had a savage explosiveness that made him one of the
most exciting players in the game and netted him $97 million in NBA earnings.
But the athlete was maybe better known for allegedly choking coach P.J. Carlesimo during
a practice in 1997. Sprewell minimized the attack, later telling 60 Minutes:
"I wasn't choking P.J. I mean, [...] he could breathe."
The outburst cost him over $6 million of his Golden State Warriors contract.
In 2005, Sprewell infamously turned his nose up at a generous $21 million three-year
extension from the Minnesota Timberwolves at the relatively ancient NBA age of 35.
He supposedly uttered in earshot of a Sports Illustrated reporter:
"I've got my family to feed."
Sprewell never played professionally again,
and three years later, his Milwaukee-area mansion was in foreclosure, according to ESPN.
Sprewell did land a Priceline ad in 2018, where the former hoopster poked fun at himself:
"I guess what I’m saying is: Success is just failure that hasn't happened yet."
His net worth is now estimated at just $50,000.
Tim Duncan, a.k.a. "The Big Fundamental," is not the kind of personality you'd expect to waste away
his jaw-dropping $242 million in career cash - all with the San Antonio Spurs. And to be fair,
this time around it wasn't the NBA pro's fault. In 2015, the 6'11” 15-time All-Star filed a lawsuit
alleging his financial advisor lost more than $20 million of his hard-earned money.
He told Bloomberg:
"Luckily I had a long career and made good money. This is a big chunk,
but it's not going to change my life in any way."
He then outlined how the shady financier allegedly forged his signature, intentionally mismanaged
his assets for personal gain, and straight-up stole nearly $7.5 million — which Duncan was
able to recover when he won that portion of the suit in 2018, according to San Antonio's mySA.
Gilbert Arenas was briefly among the best ballers on earth. "Agent Zero" made three All-NBA teams
and built a rep as a cold-blooded phenom. But Arenas' career ended in serious controversy.
The increasingly eccentric hooper had been illegally storing guns
in the Washington Wizards' locker room and then brandished a firearm
during an argument with a teammate over a gambling debt in 2009, according to Action.
In 2007, he tore his MCL, but Washington still signed the injured Arenas to a 6-year
$111 million deal - a contract Arenas admitted might be the worst team-deal in NBA history.
He played only 21 more games in DC and never fully recovered.
Arenas cashed his last NBA check in 2016 and told TMZ he was so broke his kids would have
to transfer to public schools. The star made over $163 million in the NBA, but his spending was also
legion. Court documents obtained by The Washington Post included line items like a $6,500 a month
"shark budget," $5,000 a month for housekeeping, and a $40,000 toy train set for his children.
Delonte West's journey from starting alongside Lebron James with the Cleveland Cavaliers to
allegedly becoming homeless is one of the most tragic tales in league history. Wild
rumors he slept with James' mother perhaps didn't help extend his tenure in The Land.
West was a promising talent, drafted 24th overall in 2004.
He made $16 million in career cash but was released from the Dallas Mavericks in 2012
after a slew of legal troubles. By 2016, he was spotted walking around without shoes in
the parking lot of a Houston-area Jack in the Box, looking haggard and dazed.
West was previously diagnosed with bipolar disorder after yelling at an official in 2008,
but mental health had always been a struggle.
West admitted to The Washington Post:
"I used to try to kill myself all the time. [...] The ugly head started to
show itself again. It's been haunting me my whole life."
In January 2020, a horrifying video emerged of an unconscious West being stomped in the streets of
Washington, D.C. A witness told TMZ that West allegedly struck first with a glass bottle. At
the time, the former millionaire was thought to be homeless, with his net worth estimated at $1,000.
If you or someone you know is having suicidal thoughts, please call the National Suicide
Prevention Lifeline at 1-800-273-TALK (8255) or text HOME to the Crisis Text Line at 741741.