D_Carey's Blog

Another broke NBA star

By D_Carey | View all Posts
Posted Sunday, April 11, 2010 10:44 PM   2 comments

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 jewelry. Yikes.

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 various casinos.

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?

comment Post A Comment
PAZ-MAN says:
04/12/10 03:17PM
These idiots can live off the interest of their millions of dollars for the rest of their life!!!
goinggone says:
04/14/10 07:33PM
+++++++++++they get a retirement once a month

I think OJ's is 25k per month

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