Basketball stars get ridiculously rich. It's the American way. But some players have struggled with their obnoxiously huge wads of cash in ways that most people could've easily seen coming. Latrell Sprewell was one of the bigger hotheads of the NBA, and in the end it severely affected his finances. He managed to earn a whopping $100 million over the course of his career, but he's lost virtually all of it, thanks to some bad decisions that started in 1997. He was infamous for getting into fights; Sprewell once got so mad at something that his coach PJ Carlesimo said to him during practice that he attacked him. This led to his $24 million contract being voided. He managed to get it back in the end, but it proved that when he was angry, he wasn't thinking clearly. This continued when Sprewell was offered a contract extension from the Minnesota Timberwolves that would've earned him up to $30 million. He spit on the offer, saying it wasn't enough money because he had, quote, "a family to feed." Either that's one huge family or they eat a ridiculous amount of food. In the end, he only played one more year and earned significantly less. Everything went downhill once he stopped playing. He racked up legal fees, lost his yacht and both of his mansions, and failed to pay $3 million in taxes. Out of that fortune of $100 million, it is estimated Sprewell is now worth $50,000 and lives in a rental property.
Tuesday, May 12, 2020
Former Basketball Stars Who Are Surprisingly Poor Now
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Basketball stars get ridiculously rich. It's the American way. But some players have struggled with their obnoxiously huge wads of cash in ways that most people could've easily seen coming. Latrell Sprewell was one of the bigger hotheads of the NBA, and in the end it severely affected his finances. He managed to earn a whopping $100 million over the course of his career, but he's lost virtually all of it, thanks to some bad decisions that started in 1997. He was infamous for getting into fights; Sprewell once got so mad at something that his coach PJ Carlesimo said to him during practice that he attacked him. This led to his $24 million contract being voided. He managed to get it back in the end, but it proved that when he was angry, he wasn't thinking clearly. This continued when Sprewell was offered a contract extension from the Minnesota Timberwolves that would've earned him up to $30 million. He spit on the offer, saying it wasn't enough money because he had, quote, "a family to feed." Either that's one huge family or they eat a ridiculous amount of food. In the end, he only played one more year and earned significantly less. Everything went downhill once he stopped playing. He racked up legal fees, lost his yacht and both of his mansions, and failed to pay $3 million in taxes. Out of that fortune of $100 million, it is estimated Sprewell is now worth $50,000 and lives in a rental property.
Basketball stars get ridiculously rich. It's the American way. But some players have struggled with their obnoxiously huge wads of cash in ways that most people could've easily seen coming. Latrell Sprewell was one of the bigger hotheads of the NBA, and in the end it severely affected his finances. He managed to earn a whopping $100 million over the course of his career, but he's lost virtually all of it, thanks to some bad decisions that started in 1997. He was infamous for getting into fights; Sprewell once got so mad at something that his coach PJ Carlesimo said to him during practice that he attacked him. This led to his $24 million contract being voided. He managed to get it back in the end, but it proved that when he was angry, he wasn't thinking clearly. This continued when Sprewell was offered a contract extension from the Minnesota Timberwolves that would've earned him up to $30 million. He spit on the offer, saying it wasn't enough money because he had, quote, "a family to feed." Either that's one huge family or they eat a ridiculous amount of food. In the end, he only played one more year and earned significantly less. Everything went downhill once he stopped playing. He racked up legal fees, lost his yacht and both of his mansions, and failed to pay $3 million in taxes. Out of that fortune of $100 million, it is estimated Sprewell is now worth $50,000 and lives in a rental property.
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