Antoine Walker earned close to $110 million playing in the NBA over the course of 13 seasons (and Lord only knows how much at Kentucky). That's obviously enough money for your grandkids to live off of, provided you don't do anything too stupid with the cash you have on hand.But according to an investigation by the Boston Globe, he apparently squandered it all -- and is now being chased by creditors and lawmakers alike as they hunt him down for writing bad checks at various casinos across the country.
From the Globe:
A Globe review found that, during the last seven months, Walker has been pursued by multiple financial institutions for unpaid debts totaling more than $4 million. Court documents filed in Illinois and Florida reveal Walker was named a defendant in three recent debt-related civil cases, in addition to the ongoing check-kiting case. His former agent is also after him, citing a heap of unpaid fees.Walker refused to comment (via his agent) and Walker's lawyer -- who will probably be hanging around the Las Vegas courtroom for 'Toine's Thursday hearing relating to three felony counts of passing checks with intent to defraud (read: knowingly writing bad checks) -- had nothing to say to the Globe either.
All of this (especially the whole 'multiple legal filings' thing) adds up to what is a very sad story of a very talented player blowing a VERY large amount of money. And doing it in a ridiculously short time, too.
Things could be worse, I suppose -- if there's one thing the American legal and political system has taught us over the past few years, it's that people can be bailed out from financial woes, no matter how much money they've wasted.
But, the more likely scenario with 'Toine is that he's basically the John Daly of the NBA: an uber-talented star brimming with potential but unwilling to work hard enough and eventually undone by his own hubris and lack of control. Unfortunately for Walker, the nature of the NBA doesn't allow for stomach surgery and really funny looking pants to inspire an over-the-hill comeback.




















Reader Comments (Page 1 of 1)
10-29-2009 @ 2:50PM
Frank Fitton said...
Walker’s situation is one that shows just how imperative it is for pro athletes to have good financial planners around them. People that did not grow up with a lot of money have no idea what to do when they are instantly given these kinds of contracts. Often times they waste money on lavish material goods and surround themselves with bad people who are as naive as themselves when it comes to how to plan your life out financially. There is no reason that an NBA player shouldn’t be able to live their whole life off of those kinds of earnings from their playing days.
If some good can come out of Walker’s situation hopefully it can serve as an example to younger players in a similar situation to what he was blessed with 10 years ago. The league does mandate a type of financial seminar for its rookies, and this case will be one that will most likely be alluded to often in those classes.
When playing Walker always used to show off his patented wiggle after a made three pointer, this situation though is going to be hard to wiggle out of.
Check out my blog on Antoine Walker's situation at... http://www.thedebtgazette.com/2009/10/antonie-walker-financial-trouble/
Reply