When listing your assets the next time you
balance your ledger, take notice how much in fur coats you put down. For former
76er and Nets star Derrick Coleman, that’s about all he has left.
Over a 15 year career in the NBA, the former Syracuse
star earned more than $87 million, but Yahoo! Sports reported this week that
Coleman currently has little more than $1 million remaining in assets. Those
belongings? Try a Bentley convertible, five fur coats and several thousand in
That’s almost as good as Mike Tyson spending around
$30,000 a month on tiger care during the late 1980s.
The story gets even worse for Coleman, who owes
around $5 million in outstanding debts after many of his business ventures in
Detroit failed to pan out. Business ventures in Detroit? That’s about as dumb
an idea as Coleman trying to become an exotic dancer.
My favorite all-time fiscally irresponsible
athlete is Antoine Walker. That boy knew how to party, blowing the $110 million
he earned over 12 years and falling into about $4 million worth of debt to
What would you do with a professional athlete's
salary? Is it really that hard to open a savings account or not buy a 15th
car or 8th house?