Unable to Make it on $110M, Ex-NBA Player Files For Bankruptcy

[WhatsHisNuts]

http://www.southtownstar.com/news/2327314,052810walker.article

Another heart-breaker.....:mj07:

Enjoy your new life stupid ass. I love his listing of monthly expenses. Idiot.

 

[MadJack]

In the May 18 filing for Chapter 7 bankruptcy protection, Walker asks the court to allow him to keep his $2.3 million Miami mansion, $2,000 in cash and his $54,000 silver Range Rover.

WTF good is $2000 at that point?

 

[Cie]

WTF good is $2000 at that point?

2 months of clothing expense:mj07:

 

[WhatsHisNuts]

WTF good is $2000 at that point?

You may have missed the part about him being a fucking imbecile.:0051

 

[Cie]

You may have missed the part about him being a fucking imbecile.:0051

:mj07:

 

[Cie]

So much of this goes on, that you would think these guys would hire professionals to handle their $$ and live within the budgets set.

I recall Troy Aikman reps on an HBO special talking about how Troy lived within his means from day 1, and was, in fact, financially secure for life after signing his rookie contract. I just looked it up, and was a 6 year 11.2 million dollar deal, or 10% of what this douchebag blew.......

 

[devil dave]

atleast he can take his ring to pawn stars, rick will give him a good price:mj07:

 

[dunclock]

$1200 a month in housekeeping:scared

well there is $14k ayear just to clean your own fuckin house:mj07:

 

[Terryray]

reminds me of that classic Rick Reilly column

reminds me of that classic Rick Reilly column

"Congrats, newly minted NBA rookie!

Now you've been drafted. Next comes the delicious multimillion-dollar contract. And that's when you must do what most NBA players do: start going through cash like Jack Black through the Keebler factory.

Filing for bankruptcy is a long-standing tradition for NBA players, 60% of whom, according to the Toronto Star, are broke five years after they retire. The other 40% deliver the Toronto Star."

link to rest of column here

 

[kickserv]

I delivered the Toronto Star when I was a kid, got a 100 dollar tip at X-mas time.

I was good.

 

[Terryray]

So much of this goes on, that you would think these guys would hire professionals to handle their $$ and live within the budgets set. .

I'd suspect the NBA player's lack of financial prudence would indicate a deficiency in this area large enough to additionally preclude him from prudently choosing and following a financial manager. The player thus suffers from a dual burden--his incompetence robs him of the metacognitive ability to realize and correct it.