December 13th, 2010 Update: Antoine Walker has started his road back to the NBA and a paycheck to offset his debt and bankruptcy by playing with the Dakota Wizards of the NBA Developmental League. He has been somewhat effective while shaking off the cobwebs in his game, but it remains to be seen if he will be offered a 10-day contract once players are eligible to be added. As it stands, Walker has earned more money playing in a single NBA game then he is due to earn playing an entire season in the NBA Developmental League

Antoine Walker’s lawyers have been working to resolve his gambling debts in the range of over $900,000 for quite some time. (Note: Walker has been able to recently postpone his trial until 2011.)

The Clarke County district attorney has issued Walker a mandate: Have a deal done by November 30^th, or go to court and face felony charges.

You mean to tell me I need to sell stuff?

The Walker story is quite strange. Is he really broke? How else can one describe a player who makes millions of bucks skipping out on a gambling debt that is minuscule comparatively to his net worth?

He could sell one or two of his lavish cars, and this could all go away.

What I find more disturbing is why Walker has not handled his business as of yet. Is parting with material objects harder to do than paying restitution of his gambling debts that will land him in prison?

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:

• J.P. Morgan Chase             $1,571,771.47
• Wachovia                           $1,540,929.14
• American Express              $53,321.71

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.

Update: Antoine Walker is Broke?

Antoine Walker–AKA Employee Number 8–is the latest in the long line of professional athletes running into gambling problems . He Antoine Walker was arrested Wednesday  in Harrah’s Casino in South Lake Tahoe, Nevada. He is currently facing three felony counts of writing bad checks.

NBA players sometimes recieve a harsh does or reality. (Credit: tmz.com

Who does this guy think he is anyway, John Daly?

"I'll teach Antoine a thing or two 'bout gambling!" (Credit: picapp.com)

That might be better than Pete Rose.

He should have learned something by the abundantly publicized events of Charles Barkley skipping town on the hook for $400,000.

If you took notice of Walker’s shot selection during his career, it makes sense seeing him accrue close to $1 million of gambling debts. He rarely saw a shot he didn’t like or end up taking. It seems his gambling habits are parallel in nature. Which leads to many bad decisions with money on the line.

A better question is how can Walker, who has made $99,287,540  during his career, bounce the checks to Caesars Palace, Planet Hollywood, and Red Rock Resort totaling over $800,000? How can’t he pay that off?

Coming soon to a Las Vegas pawn shop. (Credit: picapp.com)

The bigger question is how much more has he lost prior to being arrested Wednesday?

Did he gamble with the folks he played golf with on Thursday? Seems it was no hassle ponying up the $135,000 cash for bail. Did he just get lazy? Maybe he wanted to pretend it didn’t happen, like it was a bad dream or something, like if he went away, it would go away. Not how it works though.

What would be the over/under on when Antoine Walker will be broke?

Quite possible Walker’s career may have to continue in European League near you.