Antoine Walker Broke
Antoine Walker Broke – Antoine Walker is becoming the latest poster child for professional athletes going broke. How broke? Walker earned over $110 million dollars ove the course of his 12-year NBA career. Now he is being pursued by multiple credit agencies seeking to collect over $4 million dollars in debt.
This summer, Walker was arrested in Stateline, NV for passing bad checks in Las Vegas casinos, one million dollars worth of bad checks. Athletes losing their millions is nothing new. Brian Cuban, Mark Cuban’s brother, wrote about Why Athletes Go Broke on his blog over a year ago.
So, how did this happen? The Boston Globe article details how Walker not only bought limos, fine clothes and food for himself but for a large group friends and family. That, by itself, makes him sound like a guy who made it big and made sure to give back. By all accounts, Walker was generous to team mates and staff as well. He gave coach Jim O’Brien three custom-made suits to welcome him to the Celtics in 2001. However, this generosity gets more troubling when you read about how he handled his credit cards:
“Walker, remarkably, appears to have authorized five people to make charges on his card, not a strategy most personal finance professionals would recommend. Many of the charges appear to have been rung up by another individual, but Walker is on the hook.”
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