Former Celtics star Antoine Walker is broke and in debt

TVCCH3 · 10-29-2009, 07:32 AM

In 12 years, Antoine Walker made more than $110 million playing professional basketball moderately well. Take away taxes, throw in some adidas endorsement money and a "NBA Live 99" cover, and he's left with, what, $60-to-65 million?

Whatever the details, it was a big chunk of change, which, amazingly, wasn't enough.

That's right, during the last several months, the once multi-millionaire athlete has been pursued by multiple financial institutions for unpaid debts.

In fact, according to Shira Springer of The Boston Globe, "Employee No. 8" owes more than $4 million to his creditors and is facing felony check fraud charges in Las Vegas. All of this at the age of 33. Wild.

Now I know what you're thinking: How in the world does somebody not named Montgomery Brewster even begin to blow through that amount of money?

"Walker liked to move in an outsized entourage; his mother estimates that, during his playing days, he was supporting 70 friends and family members in one way or another. And speaking of his mother, he built her a mansion in the Chicago suburbs, complete with an indoor pool, 10 bathrooms, and a full-size basketball court.

Living at the Bishops Forest condominium complex in Waltham during the Celtics season, Walker turned the pavement surrounding his home into a virtual luxury car lot — two Bentleys, two Mercedes, a Range Rover, a Cadillac Escalade, a bright red Hummer. Often, the vehicles were tricked out with custom paint jobs, rims, and sound systems at considerable added expense. He also collected top-line watches — Rolexes and diamond-encrusted Cartiers."

Condos, luxury cars, watches ... I guess that'll eventually force you into bankruptcy. Especially when you're not investing any money or collecting $200 with every fifth or sixth roll of the die.

But Walker's lavish lifestyle wasn't all "me-me-me." He was also a generous friend and teammate who had custom suits made for coaches, routinely picked up giant team dinner tabs and, when there were funds to spare, gave to underprivileged youngsters. He was basically spending money like it was going out of style.

And it did.

I guess Biggie was right after all: mo' money, mo' problems.

Former Celtics star Antoine Walker is broke and in debt - Ball Don't Lie - NBA - Yahoo! Sports

**brackis1** · 10-29-2009, 08:08 AM

Hopefully he actually has assets that can be liquidated, such as the cars and jewelry ad such, to cover the debts and have something to live off of.

What I dislike about these stories is that they put a stigma on the person from thereon out. I bet he could get a lot of endorsement or broadcasting deals to help pay off his expenses, but thanks to a story like this, his value as a public figure is shot because companies won't want a guy endorsing a product if the audience is thinking "oh he is just desperate for money, this is fake."

Tiger Uppercut · 10-29-2009, 08:11 AM

guy spends roughly 60-65 million and is broke. Yea, don't feel sorry for him at all

Lapu-Lapu · 10-29-2009, 08:22 AM

This makes me sad. I was a huge Antoine Walker fan. Specially back in the early days of Boston he used all his skills rather than settling for threes.

Hinch · 10-29-2009, 08:30 AM

That's some MC Hammer shit right there.

BasRuttenFan · 10-29-2009, 09:42 AM

When you have never had money, you normally don't know how to handle it and run through it rather quickly. For athletes, it is usually a case like this as well. A bunch of $100,000 cars and bankrolling a bunch of leaching "friends". Wonder how many of his boys that helped him spend it all are sitting around with him trying to figure a way out of debt? Sad really since it's a case of him being over generous and probably taken advantage of instead of putting it up his nose like in a lot of cases. It's unfortunate to think he could have set himself and a few future generations for life and now he has nothing to show for it.

You go to the opposite end of the spectrum with somebody like Shaq, who grew up with a military family that likely planned and budgeted financially very well. He has said in interviews that he has never spent a dime of the money he's made from basketball. He has lived off of endorsement money the whole time. Granted Walker is not even in the same stratosphere as Shaq on the payroll but 60 million should be more than adequate to never have to work again.