Antoine Walker is Broke?
Antoine Walker was arrested last July for failing to make good on casino markers. It raised many questions then, and then the issue of Employee Number 8 faded away from media attention.
New information is now making it more evident that he is indeed broke. Maybe he can hawk his championship ring to help offset some of his debt.
Coming soon to an auction house near you! (Credit: picapp.com)
According to boston.com, J.P. Morgan Chase Bank, Wachovia Bank, and American Express Centurion Bank won decisions against Walker for the following amounts:
Doesn’t it blow your mind that someone who signed a $71 Million dollar contract in 1999 blew $71 million dollars in ten years?
I sported his Adidas signature shoes during my college games, and believe me when I tell you they were not cheap. Walker must have been making tons of cash from his Adidas endorsement deal.
Maybe the main reason he is broke is the combination of his spending habits, which are rumored to be as flashy as his on-court antics:
- Closets filled with custom tailored suits so he would not have to wear the same suit twice.
- Treating his teammates to limos and nightlife, and picking up the entire tab, for every road game.
- Spending on high-end luxury vehicles, and outfitting them with every imaginable custom add-on feature.
- Countless poor investments, and high-stakes gambling losses. This is likely the biggest factor.
But with all the harsh negativity aside, and to shed some positive light on Walker, we must acknowledge his positive contributions and considerable generosity.
He started a charity for underprivileged youth, and unlike Kobe Bryant, he has put a ton of his own wealth into it.
He bought his mother a $6 million dollar home. Although it might have dropped 75% in value, it is still the thought that counts right?
Will Antoine be the example that opens the eyes of these super wealthy athletes?
Will they realize they do not need loans for starting businesses?
Maximum salary contract players ought to make counting their savings and profits while living off the interest the first business move they should learn.
Perhaps Walker can seek employment by the NBA to council new players entering the league on what not to do with their new found wealth.
With the fame Walker now possesses being a max contract player going broke, he is the prime candidate for the job. That is, if he can curb his habits from repeating his tumultuous past.
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Tue, Oct 27, 2009 by Adam Sedie
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