There is plenty of money in sports like basketball. The NBA has helped many young talented basketball players become really rich. Unfortunately some of them have gone broke due to lack of essential financial management. Around 60 percent of former NBA players go broke within five years of retirement. Some players are savvy enough to save and invest their money while others aren’t so smart or lucky.
Here are some 15 NBA players who went broke.
15) David Harrison
Total Career Earnings: $4,428,916
Retired American professional basketball player David Harrison played for Indiana Pacers between 2004 and 2008. He pulled down $4.4 million over four seasons. Due to financial problems he took a job at McDonald’s in 2013. At one point in time he did not have money to pay for his son’s Happy Meal.
14) Eric Williams
Total Career Earnings: $39,835,520
This 42-year-old American former professional basketball player was part of the NBA till 2007. He earned $40 million during his playing days, but went broke. But not many sympathize with him as he ill treated his wife.
13) Gilbert Arenas
Total Career Earnings: $140,714,721
American professional basketball player Gilbert Arenas is not exactly broke yet. He receives checks from the Orlando Magic, from a $111 million league. But his exorbitant spending is pinching him really hard.