Antoine Walker: A Cautionary Tale

[kobe8is]

Originally Posted by What up

I don't feel bad for him. AT ALL.

X2

 

[antbanks81]

you're right Myto...I could ball out and still save money for the future off just one year's salary...you can see alot of these guys didn't pay attention to anything in college.

 

[westcoastsfinest]

Originally Posted by DiPlOmAt TDOt

Originally Posted by illmatic34

Originally Posted by outacontrol music

Originally Posted by PH3N0M3N0N

110 million? no sympathy here.

 

[pharelfor3]

gravedigging ftw

 

[moe200069]

damn, at least Manute Bol donated to charities and foundations.



i dont know if they already do, but the NBA needs to provide some of their athletes with financial management classes.

 

[jehul]

Originally Posted by mYToAsterspeak

thing I don't understand, why not put money away, in different high interest bearing accounts, and just live off the interest money. These athletes have access to people who know how to use money to make money without having to spend it. +!+@ give me 2 million and i'll never have to work again, and I'll still be able to live a charmed life. Stupid, just plain ol stupid

Word.

And to think Shaq laid out the blueprint for NBA players when he was in Orlando.

 

[bjm5295]

Its hard but I do feel kinda bad for Toine. I wouldnt if he spent his money on drugs and hookers. I know a lot of it was gambling, but more of it was having too good of a heart. And I've always lived in the Boston area so Toine was my dude growing up watching the Celtics.

But damn man, $110 Mil?

I bet he still has a few mil left, but he owes mad bills too. He said himself there is money left, but he owes a Mil to casinos alone, and probably way more.

He should hit up motivational speaking. He could rake in serious money for telling his story.

 

[airjordan jb23]

 

[finnns2003]

Always cringe when Antoine's problems come up.

 

[nycknicks105]

its hard to feel bad for him, but when I see that he did support a lot of people then my mind changes a little.

I did read that a lot of the money was blown through casinos.

 

[raptors29]

Originally Posted by airmaxpenny1

Story for too many athletes, these dudes don't realize this money coming' it ain't forever. A lot of dudes in the league be living paycheck topaycheck. The league needs to do a better job educating these guys about where to put there money and how to spend it.

Dudes think they have unlimited money. Antoine Walker isn't the first person. 

 

[shoeking2101]

The way I see it, here's an example:

Say you make one miillion dollars,why not just put that money in the bank, and the interest is probably a little over 100,000 dollars. If you can't live off that then, i'm sorry that's a problem. By doing this, you can easily save money, and have your money work for you, or "make your money double"

 

[antbanks81]

The biggest problem is that these dudes don't know how to say no to family and friends and friends' friends. I could see myself looking out for those in my fam and my long time friends. and by look out I mean pay off their cribs and bills or hit them with a one time love package. I would not put them on my payroll for nothing.

His gambling losses might outweigh those of a giving heart, but Hammer showed everyone what sharing your lifestyle with the old neighborhood will do.

 

[ph3n0m3n0n]

Originally Posted by shoeking2101

The way I see it, here's an example:

Say you make one miillion dollars,why not just put that money in the bank, and the interest is probably a little over 100,000 dollars. If you can't live off that then, i'm sorry that's a problem. By doing this, you can easily save money, and have your money work for you, or "make your money double"

10% interest? 

 

[biggie62]

Originally Posted by shoeking2101

The way I see it, here's an example:

Say you make one miillion dollars,why not just put that money in the bank, and the interest is probably a little over 100,000 dollars. If you can't live off that then, i'm sorry that's a problem. By doing this, you can easily save money, and have your money work for you, or "make your money double"

Even if you end up in a top end Hedge Fund, which as a black athlete it'll very rarely happen unless you are MJ, Lebron, or Kobe, you more than likely never see 10%.  And even if you do, you'll be losing 2-3% of it to fees.  So you are left with 7-8%.  Then pay 30% of the remaining funds in taxes.  So yea, you'll be seeing 4-5% in returns.  You don't know anything about investments I see.

Oh wait and I forgot about the ~3% inflation rate that we see every year.

 

[jehul]

Originally Posted by AntBanks81

The biggest problem is that these dudes don't know how to say no to family and friends and friends' friends. I could see myself looking out for those in my fam and my long time friends. and by look out I mean pay off their cribs and bills or hit them with a one time love package. I would not put them on my payroll for nothing.

This. Bet these cats wouldn't be satistfied if you hooked them up with average gifts either (Brand new Hyundais, Corollas, etc) smh

 
"No eating at the table if you bringing nothin to it"
- Now that's keeping it real, imo.

 

[jordan201]

And to think that he's only 33

 

[mondaynightraw]

 

[bigtomgetsgwap]

I thought it said $10 Mil at first than I looked again

I can't even imagine...I could EASILY live good for THE REST OF MY LIFE off 10 Mil...I'm lost of words right now

 

[RyGuy45]

And to think that he's only 33
This.

As I believe i said in here before, I feel bad for Antoine in a way. But it's just comical to me how the NBA is in this day and age, where you got cats coming into the L, have no where close to a HOF-type career, and they can get out by 30 years old having made $100 million. In a way they shouldn't even have this opportunity to even blow this cash. And we wonder as fans why we subject ourselves to paying $12 for a beer, $100 for a jersey, etc.

Antoine Walker hit the $100 million mark when he still was 31 years old. He made zero All NBA teams, played in zero Finals.
Stephon Marbury made $151 million by the time he was 32 years old. He made two All-NBA third teams, played in zero Finals.
Juwan Howard has made $145 million. He hit the $100 million mark by the age of 29. He made one All-NBA third team, one AS Game, played in zero Finals.
Jermaine O'Neal has made $154 million. He's still only 31. He's made one All-NBA 2nd team, two 3rd team, played in zero Finals.


You can even move to the next step...Each of these players below, while good players at times, never made a first, second, or third team All-NBA in their entire careers (unless noted in parenthesis) and rarely even sniffed one single MVP vote.

Rasheed Wallace - $162 million once current deal is up
Baron Davis - $145 million once current deal is up (one 3rd team)
Elton Brand - $161 million once current deal is up (one 2nd team)
Michael Finley - $128 million and counting
Allan Houston - $117 million
Antonio McDyess - $115 million once current deal is up (one 3rd team)
Zydrunas Ilgauskas - $113 million and counting
Mike Bibby - $112 million once current deal is up
Damon Stoudamire - $101 million
Jalen Rose - $101 million
Steve Francis - $98 million
Shareef Abdur-Rahim - $95 million
Tim Thomas - $92 million


The NBA......Its FAAAAAAAANTASTIC.

It's a wonder why some people are almost begging for a lock out just to change things.

 

[ogbobbyjohnson773]

He's only 33 

 

[ph3n0m3n0n]

Originally Posted by RyGuy45

And to think that he's only 33

This.

As I believe i said in here before, I feel bad for Antoine in a way. But it's just comical to me how the NBA is in this day and age, where you got cats coming into the L, have no where close to a HOF-type career, and they can get out by 30 years old having made $100 million. In a way they shouldn't even have this opportunity to even blow this cash. And we wonder as fans why we subject ourselves to paying $12 for a beer, $100 for a jersey, etc.

Antoine Walker hit the $100 million mark when he still was 31 years old. He made zero All NBA teams, played in zero Finals.
Stephon Marbury made $151 million by the time he was 32 years old. He made two All-NBA third teams, played in zero Finals.
Juwan Howard has made $145 million. He hit the $100 million mark by the age of 29. He made one All-NBA third team, one AS Game, played in zero Finals.
Jermaine O'Neal has made $154 million. He's still only 31. He's made one All-NBA 2nd team, two 3rd team, played in zero Finals.


You can even move to the next step...Each of these players below, while good players at times, never made a first, second, or third team All-NBA in their entire careers (unless noted in parenthesis) and rarely even sniffed one single MVP vote.

Rasheed Wallace - $162 million once current deal is up
Baron Davis - $145 million once current deal is up (one 3rd team)
Elton Brand - $161 million once current deal is up (one 2nd team)
Michael Finley - $128 million and counting
Allan Houston - $117 million
Antonio McDyess - $115 million once current deal is up (one 3rd team)
Zydrunas Ilgauskas - $113 million and counting
Mike Bibby - $112 million once current deal is up
Damon Stoudamire - $101 million
Jalen Rose - $101 million
Steve Francis - $98 million
Shareef Abdur-Rahim - $95 million
Tim Thomas - $92 million


The NBA......Its FAAAAAAAANTASTIC.

It's a wonder why some people are almost begging for a lock out just to change things.

THIS. is why dudes be having hoop dreams till they 40.

On the off-chance they make it, no matter how sub par they may be, one good performance will set em up NICE.

examples?

Jerome James ($30 mil for 5 years?????????????)

Jared "@#$%@#" Jeffries ($30 mil for 5)

many more but those two stand out in my head right now and one is occupying a spot on my team that we could use for someone else. 

 

[stoneyjax]

thats some sad $#%@ right there

 

[fac3 tak30v312]

All of these figures are before tax, agent fees, child support fees, etc .. just taking taxes into consideration these contracts should be immediately cut in half and I believe agents take their cut off of the salary before taxes

 

[ph3n0m3n0n]

Originally Posted by fac3 tak30v312

All of these figures are before tax, agent fees, child support fees, etc .. just taking taxes into consideration these contracts should be immediately cut in half and I believe agents take their cut off of the salary before taxes

Alright do all that, then add 5 million or more to charity. 
After all of that, do they still have more than enough money to live good?