Former Celtics star Antoine Walker is broke and in debt

[Manu20]

Former Celtics star Antoine Walker is broke and in debt

By J.E. Skeets

http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Former-Celtics-star-Antoine-Walker-is-broke-and-;_ylt=Am7kzGppQGBErEUxDpGRKR45nYcB?urn=nba,198509

In 12 years, Antoine Walker(notes) 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 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?

The answer: fairly easily.

"[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.

Cheers, CelticsBlog.

[BlackSwordsMan]

aww poor baby

[clambake]

the shimmy must have come with payments.

[Spursmania]

Dumb ass

[RuffnReadyOzStyle]

Wow. You could change the world (in a small way) with 60m, and he blew it on crap? :rolleyes

I live on $15,000K/yr. If I had $60m I'd found a school like Carver, but with a sustainability focus, and build sustainable energy infrastructure. I sure as hell wouldn't spend it on baubles like watches and cars.

[LnGrrrR]

Hey come on now... Walker was a dang patriot. He knew that lavish lifestyles and ridiculously overpriced 'status symbol' purchases were funding our economy.

Is it any surprise that Walker AND our economy tanked at the same time? I don't think so.

NBA GM's who want the economy to recover, I implore you... hire Walker! He's not all worthless! Think of the shimmy! And he's even got a ring!

[dallaskd]

Did he not invest any of his 110 million? dumbass..

[Bob Lanier]

Now this is entertainment.

[peskypesky]

a fool and his money are soon parted

[iggypop123]

he is still doing better than shawn kemp

[BRHornet45]

sons I hate the NBA forcing kids to attend at least one year of college before entering the league, but if they are going to do it they should require a finance class to be taken lol

then again, if you had 60-65M and didn't invest ANY of it ... you deserve to lose your money

[BRHornet45]

oh and another thing sons ... there is always a spot for Antoine on a "Cash for Gold" commercial.

[TwinTowers]

What a lack of common sense. Earned about $60 mill and didn't make any 'real' investments? this is pathetic

[BRHornet45]

What a lack of common sense. Earned about $60 mill and didn't make any 'real' investments? this is pathetic

son I know its absurd ... he could have at least bought a Popeye's franchise.

[TwinTowers]

son I know its absurd ... he could have at least bought a Popeye's franchise.

You talking about a 'gold mind' right there! if he wanted to take care of his people he coulda just give free fried chicken away

[TDMVPDPOY]

50-65m after taxes

umm dumbshit

[Thunder Dan]

http://hotbiscuits.files.wordpress.com/2009/03/mo-money-mo-problems.jpg

[760Spursfan]

son I know its absurd ... he could have at least bought a Popeye's franchise.

:lmao:lmao

[760Spursfan]

I had a customer in Dallas who worked on some of his cars with wheels, sound and other custom jobs and they told me he was trying to stiff them for 30k in work that they had done for him. This was at least a couple of years ago.

Why is it that "Afro Americans" need to have an Entourage with them when they hit it big????

[Agloco]

Former Celtics star Antoine Walker is broke and in debt

By J.E. Skeets

http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Former-Celtics-star-Antoine-Walker-is-broke-and-;_ylt=Am7kzGppQGBErEUxDpGRKR45nYcB?urn=nba,198509

In 12 years, Antoine Walker(notes) 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 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?

The answer: fairly easily.

"[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.

Cheers, CelticsBlog.

Just for those who don't understand it. Getting educated about how money really works should be a priority for everyone considering you'll spend the vast majority of your adult life trying to accumulate it.

It's clear that Antonie had no clue as to how to properly handle his business, and that's a product of our educational system. No one gets any instruction on how to handle money until college. That's outrageous.

With 60-65 million in your pocket, you should be living off the interest only. And even then, you're still living large. He gets no pity from me. :nope

BRHornet45 hits the nail on the head......


sons I hate the NBA forcing kids to attend at least one year of college before entering the league, but if they are going to do it they should require a finance class to be taken lol

then again, if you had 60-65M and didn't invest ANY of it ... you deserve to lose your money

[Pero]

"[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. [...]

Who the hell needs 10 bathrooms? Does he have 10 mothers or something?

[Venti Quattro]

Wow 100 fucking million and you still go bankrupt? Do these people eat their money for meals?

[Agloco]

Wow. You could change the world (in a small way) with 60m, and he blew it on crap? :rolleyes

I live on $15,000K/yr. If I had $60m I'd found a school like Carver, but with a sustainability focus, and build sustainable energy infrastructure. I sure as hell wouldn't spend it on baubles like watches and cars.

Kudos, but that's a bit unrealistic for the vast majority of us. :toast

My daycare bill alone is more than that.

[Udokafan05]

I saw this story the other day. Its going to become a growing trend with retiring athletes since they spend the same amount of money whether they have a job or not.

[ChumpDumper]

sons I hate the NBA forcing kids to attend at least one year of college before entering the league, but if they are going to do it they should require a finance class to be taken lolI believe that is now part of rookie initiation; I don't know if it was when Walker entered the league.

Walker can declare bankruptcy and probably live off his pension if he really doesn't have any money now. All I really read is that he hasn't paid a bunch of debts.

[pauls931]

He doesn't even have enough money to repair a sewage pipe.

http://sports.espn.go.com/chicago/nba/news/story?id=4696369

[Culburn369]

He's got swell pension comin' if he can live that long.

[duhoh]

son I know its absurd ... he could have at least bought a Popeye's franchise.

:lmao

[duncan228]

Updated.

Ex-NBA star promising to repay Vegas casino debt (http://sports.yahoo.com/nba/news?slug=ap-antoinewalker-casinodebt&prov=ap&type=lgns)
By Ken Ritter

Former NBA all-star Antoine Walker has agreed to pay more than $900,000 to settle bad check charges with three Las Vegas casinos and avoid trial on felony criminal charges, a defense lawyer and prosecutor said Monday.

Walker wasn’t in court when his attorney, Jonathan Powell, described a plan for his client to pay a minimum of almost $13,000 a month over five years to settle a complaint stemming from casino debts at Caesars Palace, Planet Hollywood and the Red Rock Resort.

Powell on Monday described his 33-year-old, 6-foot-9 client as unemployed, but said he hopes to sign with a team in the U.S. or Europe. If he does, Walker promises to increase payments to almost $21,400 per month and finish the repayment plan within three years.

“This matter’s been negotiated,” Powell told the judge.

Restitution and penalties would total $905,050, including the forfeiture of $135,000 cash bail posted following Walker’s arrest in July at a Lake Tahoe hotel.

“This is a win for the defendant, he avoids a felony conviction, and it’s a win for the community because the victim gets paid the restitution,” prosecutor Bernie Zadrowski said outside court.

Of the $770,050 to be paid, the Clark County district attorney’s office will collect $90,550 in fees and surcharges, Zadrowski added.

Walker never entered a plea in the case, which was filed last July. Las Vegas Justice of the Peace Melanie Andress-Tobiasson agreed Monday not to order him to stand trial in state court on three felony bad check charges, each carrying a possible one- to four-year prison term.

But the judge also scheduled a June 1 hearing to make sure he makes payments, and warned Powell that if Walker falls behind, he could face criminal action.

“I can tell you at the point he stops making payments, I will bind him up so fast it’ll make your head spin,” Andress-Tobiasson said.

The case stemmed from $1 million in casino markers, or promises to pay, that Walker racked up between July 2008 and January 2009. In Nevada, unpaid markers are treated as bad checks and can be turned over to the district attorney for prosecution. Zadrowski, chief of the Clark County district attorney’s office bad check unit, said Walker repaid $178,000 before charges were filed.

Walker was a three-time all-star with the Boston Celtics and won a championship with the Miami Heat in 2006. He was a starting forward on Kentucky’s 1996 national title team, and played for Dallas and Atlanta before ending his 12-year NBA career in 2008 with the Minnesota Timberwolves.

Powell said Walker splits time between Miami and Chicago.

[Bender]

the gambling was dumb, as was the blowing money on watches and crap, but it says he spent a lot of it on "friends and family" ("moochers").


$15,000Kthat's 15 million a year, pretty good!!

[IronMexican]

I'd probably blow all my money gambling.