We know that NBA stars often get caught up in the “baller life,” when it comes to spending their millions in salary earnings. Between flashy cars, palatial homes, ornate jewelry, or any other items of opulence, NBA players can often spend their grand earnings much faster than it’s earned.
Want proof? Check out this list of NBA stars who went broke after making millions in earnings, as a result of some combination of the above.
Honorable Mention: Charles Barkley
Barkley is doing well nowadays, but there was a point in his career when Sir Charles was flat out broke! According to Barkley, his former agent Lance Luchnick is to blame. In an interview with Dan Patrick, Barkley revealed that Luchnick would give him “an allowance” and claimed to be investing the rest of his money. Unfortunately, this wasn’t the case. Four years into his NBA career, Barkley was shocked to find out he was broke, and owed the IRS more money than most people earn in a lifetime.
But in fairness, Barkley’s shady agent wasn’t the only cause of his financial woes. Barkley openly admits to having a big-time gambling problem, and the money he’s blown is shocking. At one point, Barkley estimated losing over $10 million in gambling. Of course, he attributes most of this to the “peer pressure” of keeping up with good buddy Michael Jordan, another athlete with a healthy appetite for gambling.
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