8 NBA Players Who Went BROKE Very Quickly
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- čas přidán 6. 06. 2024
- In this video, I talk about 8 notable cases of NBA players losing the majority of their wealth in very sad ways.
I make all kinds of NBA videos which include trivia, analysis, player stories, countdowns, conspiracies, and mysteries. Make sure to leave a like and subscribe if you enjoyed this video!
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Delonte West actually went broke and homeless for a few years until Mark Cuban put him in rehab
Mark is a good guy
Delonte been in and out of Rehab and on the streets.. sad stuff
Cuban the GOAT for that
Wait Delonte is in rehab?
@@NikoNekoa yes literally started last week cause of the videos
God, I feel bad for Derrick Coleman...his heart was in the right place...If only he made those investments after 2008...
Legit the worst time possible to try and rebuild his community. And Detroit is still as shitty as it was before, it was all for nothing
The only guys on this list that I seriously feel bad for are Strickland and Coleman. Strickland wasn't in control of his money and Coleman got screwed by the recession
@@meep7895 ...You know that has to sting for both men
@@JoeBro915 ...Ikr?! lol God, that sucks!
@@JoeBro915 n
There's also tons of stories about average people who win millions in the lottery,but end up bankrupt within a decade.Peeps think that money lasts forever....of course it doesn't.
Money lasts forever wisdom on what to do with it does not
Because theyre stupid
@@ramnsesallen4375 faxx bro not everyone lose money some of them get even more richer
@@ramnsesallen4375 you talking different💯
At least the 50% of the people lose the money in the first year. Usually happens because they don't prepare to invest and save the money, like a person who really become a millionaire by himself. In the case of a pro sport player, at least the could earn a millionaire salary throughout years.
I respect Coleman for investing in his city and community. His heart is in the right place, but financially it wasn't a smart decision. He's a good man.
That's what I said! Everyone always saying black athletes don't giving back, and here's a stand up man that gave back to the point he jeopardized his own financial situation to see his community and surrounding communities grow. He doesn't deserve to be on here if this is about NBA stars being mindless with their money.
A lot of people thought he was a dbag but this disproves this theory.
@@justinmartin1831 Yeah, I've read he used to always fight with his teammates and curse at fans. But you know if people don't like you they'll make up stories.
Good and stupid i'm afraif
@@chrisjon8563 Ill advised, yes... Stupid, no. There's nothing "stupid" about giving back and trying to make a conscious effort to better the less fortunate, especially the less fortunate from where we come from. He was just I'll advised.
I feel you Derrick Coleman. That's a life well lived.
Only smart nba player. Even though his endeavours didn't plan out he at least had a good mindset
That’s true he from my hometown Detroit Michigan
He atleast tried to do good with his earnings, that's a man.
@@speakloudfilmzandstudios3171 Mine too.
@@djquinn11 💯💯🙌
This is why I didn't fault Kobe Bryant for not giving his money to his parents or other people. These professional athletes shouldn't be viewed as ATMs.
Hell yes,he earned that money,he doesn't need to hand everything over.
Fax bro his parents tried to pawn all his HS stuff away so I hope they didn’t expect their bank accounts to be stuffed after he died
Not a good look when you're suing your parents and vice versa. Money does terrible things to people.
Yeah. Chauncey Billups talked about that and I totally get not burning your money, even for family or close friends.
It's definitely one of the main reasons why athletes go broke soon after they finish their careers, besides prostitutes and gambling. You grow up poor, in poor communities... You feel the responsibility to lift them up and fall into this bad habit of supporting everyone around you even when it's clear that you're not actually helping, just enabling. You're just setting yourself to be disappointed and fall into depression, which is the final nail in the financial coffin for such an athlete.
Pippen made some bad investments but he’s far from broke. He’s got a mansion in LA and big summer home in Chicago. And apparently MJ got him in on some good business deals lately.
But that wife might make him broke someday
Jordan didn't help Pippen with anything but help him win 6 rings,otherwise SP will be very rich today.Jordan have over $2 billion to Pippen few millions.
@@mario10zeus That old woman been gone with the wind and Scottie doing just fine without her.He have a young thang in his mansion now.
Scottie is where he is (good or bad) due to his own decisions. No one else's.
And as far as you know, he might not even have furniture
Lowkey this should be a learning lesson for everyone to learn how to manage their money
The kids still won't listen.
Even though Tyler Herro teamed with smart financial handlers,
he still spent his rookie guaranteed money on stupid liabilities (jewelry, exotic cars, clothes, etc).
@@solascripturaPR1517 yep. To most people living like people do in the movies is their dream but just like all dreams, you gotta wake up eventually
@prowlifik no, investing is good. The problem is that these people trusted family and friends to do a job that was out of their jurisdiction. Big companies like apple, google, amazon, etc are big enough to almost guarantee that you will get your money back if not more. It's better than putting your money in a bank that will slowly accumulate and if another recession happens it will be difficult to get that money back
It is they now have a financial plan programs in the league.
@@solascripturaPR1517 it’s ok to spend, you invest in order to be able to buy stuff. You gotta spend of what makes you happy after you have put money to make you money.
How good was Tim Haraway an athletic point guard in his prime in the 90s.
Good
He isn't in the HOF. Damn shame. He definitely earned it for his work on the Warriors and in Miami
How about in general, How underrated Run TMC was....
He was selected to one 1st team all NBA, three 2nd Team all NBA, and one 3rd team all NBA. 5 Time All Star. And his UTEP 2 step cross over was deadly
@@ef692 he isn't on the hof cause he said I fucking hate gay people or sum like that
"Don't Blow It, Keep It Simple, Count Your Money"
100
Only real ones know
That guy was funny but you gotta make that money work for itself to make more at some point
Bill Burr?
Lmao
800k per year until you die. Talk about securing the bag, that’s a crazy safe deal even if he spent a lot of his earnings. Whoever was his agent at that time, the man is a freaking legend.😂
He's also getting a 32 million lump sum when he turns 55 years old and will start getting his NBA pension when he turns 50. He's 45 right now.
@@realniggashit3 This is exactly what I am talking about! The whole Iverson thing is so misleading!! David Falk was his agent coming out of Georgetown and he had someone else reoresenting him who was just as good. Iverson indicated recently he learned his lesson and is solely focused on his immediate family. My boy Bubba Chuck is straight!!
@@realniggashit3 He actually started getting his NBA pension this year. It's $8,000 a month for $96,000 a year for the rest of his life. Combine that with Reebok's lifetime deal of $800k a year and right now he's making $896,000 a year. That of course isn't counting any other deals he might have made. Appearance deals, his Showtime documentary paid him well. A.I. learned his lesson and I don't think he's one of the former stars people need to worry about.
Yea that cracked me up, Ended up broke but for the 800K from now to forever.
Friends sometimes will drag you down to the ground. If you help them they got lazy
So True.
@bojo perez 100%
no doubt
And where are they when you need them?
@@scottodonnell7121 *You know that they are nowhere to be found when*
*you are broke.*
Derrick Coleman was the only one that deserves sympathy. The rest? Not really.
True
Maybe Walker too
Strickland too. He lost his money because of his family
Pippen was underpaid in the Bulls for a long time. He was so poor he had to take a bad deal with them. I feel for him too. The rest, just plain dumb
@@sergrito lol he wasn't so poor he took a bad deal. Wtf, where did you read that? That's completely false. He took the deal for long term security. He was already a NBA player, he wasn't making crazy money like today but he was eating dude. He wasn't being advised properly when he took the deal, Jerry Reinsdorf even told him not to do such a long term deal but Pippen insisted. That's on him.
Most get broke by child support alone.. that’s the main problem they need to address
Shawn Kemp is dialing in....
buy condoms, save millions
They need to stop sleeping around like they're immune to consequences.
True,
@@chrismathgenius ;
BUT,
there's no way that you can convince me that a child or ex needs tens of thousands of dollars per year to "survive".
There are too many stories of musicians (Dr. Dre), actors (Chris Pratt), and athletes being ruled [by the greedy family court judges] to pay such crazy amounts in support and/or alimony.
Child support is a feminist, sexist, man hating, greedy, unconstitutional, illegal hustle.
*VASECTOMY*
Derrick Coleman was the only one of those eight that I would sympathize
with, because he wanted to do the right things.
The right thing is to help your yourself in order to be able to help someone else
he did the "wrong" thing. He proved that, you can't help people who don't help themselves.
Andy, Allen Iverson will get 32 million dollars, in 2030 from Reebok. they made a trust fund for him when he was still playing.
No money is enough for those who dont know how to manage it. Have a financial plan, kids.
That good for him
The way Iverson spends money, he'll be broke within a year
Hopefully he’ll be older and wiser and don’t blow it
hmoobmeeka and then get more than most people make in 26 years the next year. That ain’t really broke.
Iverson forgot where he parked his car so he bought a new one 😂😂😂 i bet he looking for that shyt now
Lol wow
Somebody here in these comments said Iverson will get 32 million from Reebok in the year 2030. Reebok is smart. They know people like Iverson have a tendency to lead an irresponsible and dangerous lifestyle. They're hoping they won't have to pay him.
That is the craziest thing i heard yet. If i find it can i have it.
70% of lottery winners go broke in a few years too.
Finance is a skill that you need to learn and isn't commonly taught.
It is more about self discipline. Finance, you can get someone else to do it for you. But many don't have the discipline. They rather do whatever they want vs listening to an advisor.
NOT an accident... If ur not connected, they're coming for that $$
@@stephenc2481 I agree. I think it’s difficult for people who went from making nothing one day to making millions the next to realize they need to slow down and make smart financial decisions.
You can have all that money and still have a middle class mindset. Nix the boat, don't give out money, don't do stupid gambling dates, buy your home in full. Groceries never cost 30,000 a month, only to a fool. Ijs
You didn't mention that Pippen accepted a low salary to ensure a long contact that could support his family, two of whom were seriously disabled. When you take that into account and that he probably resold that plane for quite a lot of money, his story isn't really as remarkable
Yea I actually put him up w Derrick Coleman for kind of getting the shit end of the deal. He had good intentions and just got screwed.
Mj ruined pippens career
How do you get sued for 200 million “walking away from family”?
I wouldnt want to be part of a "family" that would sue me for 200 millie anyway
@@theadmiral460 you have to get a divorce to leave your wife and kids else a lawsuit is waiting for you
Imagine being somewhat famous but completely broke
I lived in Detroit while A.I was playing there, and I remember routinely seeing him at the casinos in downtown, betting crazy amounts of money at the roulette table
Crowds would gather and watch the poor guy
Lol 😆🤣😂 "poor guy"
Sounds like Iverson's entourage were happy to help around the house by taking the "trash" out.
The only real trash at the house was iverson. Knew him well here in Va. where he grew up. Always so arrogant. 100% THUG.
His entourage were all leeches
I remember hearing one NFL HOFer had a rule to prevent this from happening: Everybody gets one and only one chance to ask for money. Make it count.
That's a stupid rule. "Give me *all* your money. The end".
10 millions, please.
I absolutely agree with that!!!
I'd just break everyone off with something one time and that's it
Imagine going broke as a ex NBA player.
You mean star nba player
Well since you have never been in the nba you can’t say you wouldn’t either.
I dont like to judge people when i havent been in the same situation but how the fuck do you squander multiple millions? Im able to save making waaaaaaay less than these dudes so i don’t understand it at all
@@chrisb.5351 yeah but most were just tryna help out their families but I understand what you mean. But you never know, you might be the one that could squander millions of dollars also.
Still you'll never know until you had that amount of fortune. Temptations in less money is very different if you have a lot of money.
I work at Walmart, and I make less than what Iverson spends on clothes, restaurants and groceries.... Yikes
Damn
@smooth this is not about you.
@@olurominiyiibitayo5473 he was just pointing out how ridiculous Iverson going broke is and how crazy his spending is.
I made less than what he dropped in the strip joint
"Damn I forgot where I parked my car!"
"You wanna look for it together?"
"Nah, screw it. Imma go buy a Lamborghini around the corner brb."
Hillarious 😂😂😂
Inaccurate. "Wait, I have to go home first and pick up a garbage bag of singles."
whoever found that car and stole it... got it for free
And stupid
@@matthewbartke4424 hahahahahhahahahshshs
Shout out Derrick Coleman.
That’s the realest shit I ever heard
Trying to do good is a noble thing. But trying to revitalizing Detroit was a tall task, even the city gov't, itself, failed at it. One person is a sure failure.
Let's be honest, you have to be really stupid to lose that kind of money
No cap. ❌🧢
Not really. Wrong investments, buying whole bunch of real-estates, not counting on taxes.....
And most of them think that they'll play for ever.
Shaq, that guy who invest in wendys and ofc mj are perfect example of being smart in managing multi million nba money. Or even billion since im talking about mj
@@allyespinoza3083 that’s why MJ is the Goat
is what broke people say lol
Dude really bought a new car cause he couldn’t remember where he parked it 🤦♂️ then you wonder why your money is going 📉📉
theres an abandoned bentley parked out there and nobody's picking it up....
Before even watching this I wanna say: Latrell "Choked his Coach then went Broke" Sprewell.
Latrell should have took that 21 million
Where is delonte West on this list. He went so broke to the point where the NBA reached out to help him. He has a net worth of 1,000 dollars as of October 2020
Everyone knows west is broke
respect and love for Derrick Coleman. Hope he will succeed in his plans soon.
An old saying..."A fool and his money are soon parted."
Damn that child support and take anyone down, those mamas are balling but no one ever hears from the kids again.
Never noticed how much antawn Walker looks like Shaq and I can’t I see it now
They have the same head shape
lots of pro athletes go broke quickly after retiring because they hadn't learned how to manage it during their playing career, and jumped into bad third party contracts or are scammed millions of dollars. this could also be because they started bad habits during their career, like gambling
Don't forget that some start getting into drugs and have so many kids that one or two can't remember which child he had with what woman...
And i'm confused why Derrick Coleman didn't become the Mayor that guy sacrificed his money for others... Such a nice man❤️😭
True that! What more does a human have to do to prove he's trustworthy. Kwame Kilpstrick? 🤮
*Detroit Political Arena full of corrupt individuals that went to prison. He was*
*too honest and honorable to run. He wouldn't have accepted pay off, skimming* *or bribes...They would have killed him off.*
Rodman making a ton of cash from North Korea and also Cameo now!
Shaq, that guy who invest in wendys and ofc mj are perfect example of being smart in managing multi million nba money. Or even billion since im talking about mj
@Grammar Police - yeap shaq learned the hard way also before that doctorate he spend 1 million in 1day I think but gladly for him he wise up and got that undergraduate degree for business
he even has cheap footwear for kids to play bball. he has sold millions of it,
Shaq and MJ are bad examples for this. They were so good and popular that they still made money through endorsements after their careers. It is the average NBA player, whose income completely stops after his retirement, that gets himself into financial troubles.
i remmeber that video wasnt the the richest nba player
@Grammar Police - is this why shaq invested wisely? How about Hakeem and many others without a bachelor's degree?
So basically athletes should do the following
1. Live below their means during their career
2. Don’t mix business with friends or family
3. Don’t take care of or help anyone financially if they’re not your wife or kids
4. Don’t have children out of wedlock
5. Don’t invest in anything that won’t make you money even if it’s for a good cause.
Great information
If AI would have invested $10mil in gold in 2001, he would have $66mil right now.
That's good advice for anybody, not just professional athletes
3:03 thought that was Kemba. Lol
What? Allen iverson can't find his car and instead bought a new one instead of searching for it? Lol
He just wanted an excuse to buy a new car.
Out of all of them, Coleman was the best.
Also I'm not surprised that the old little boy would've been #1
Most of them go broke because of the family guilt trap.
faimly guilt trap ruins lives in so many ways..i know grown ass men who wont go against what their mom & dad wants them to do even at the detriment of not being able to live their own lives doing what THEY want
Many, many, many other reasons.
and too many children from different women.
Well.....first of all you know you got to buy moma a house, then you got to buy your girlfriend that new car....Uncle Joe called for a loan....your sister and brothers......
If Allen Iversion earning $800K a month could easily turn into even more money then he earned in the NBA with good planning. I'm glad he has that saftey net and isn't going to end up homeless nonetheless.
facts hes prolly not as rich as other players who were smart, but still most definetly lives in a nice house and he also is getting 32 million when in 2030. he'll be good
He's cool but he has to manage his money or also do small investments.
$800k a year, not per month.
Good on Derrick Coleman. Hope the big fella still found happiness living his life enrich by his charity. God bless him!
Damn bro you really gotta feel for Coleman, he was just trying to do the right thing.
This video is a perfect example of how you don't become wealthy based on how much money whatever profession you're in makes you alone, but also on how well you understand how money works.
I really thought he would talk about Delonte West. That man is basically pan handling
Interesting topic, would love more of these!
A lot of people never learn financial management. As I listen to the stories about these guys, I can’t help but wonder if I would have done any better than them if I had come into millions when I was just starting out
A lot of Scottie Pippen’s peers aren’t retired. Michael Jordan is the majority owner of the Hornets, Patrick Ewing is the head coach of Georgetown’s men’s basketball team, and Reggie Miller, Kenny Smith, and Charles Barkley have telivision careers.
Allen Iverson: "Practice, don't need no practice"
Also Allen Iverson: "Brains, don't need no brains."
The Allen Iverson one is a bit misleading. A very close friend and business associated of his put a lot of Iverson money in a Trust Fund where he can't touch it until 50/60's which was smart of him. The narrator is right, Iverson has a life time contract with Reebok for 800 per year. However, besides his 800k, he also gets a percent for his Sneaker and appeal wear. Iverson is still an icon overseas especially in the Far East where they rep his jersey, sneakers, etc. So, yes, Iverson may have lost moneh, but the dude is still earning way more $$$ then everyone on that list and is resting his head comfortably along with his family.
I remember I saw a bar graph once that showed percentage of players going broke by league. The NBA and NFL was well over 50%. The MLB was a very distant 3rd with something like 5% and the NHL was so low that it was not visible on that graph.
Most MLB players don't sign those huge multi-million dollar contracts until they're in their mid-to-late 20s. They spend the first chunk of their careers making next to nothing, so they learn a lot more about the necessity of saving money than other sports.
NBA and NFL players get millions shovelled to them the moment they're drafted. That messes people's heads up.
many nba/nfl players come from poor backgrounds and overnight become extremely rich. this leads to bad money management.
Notice how the NBA and NFL, overwhelmingly black, go broke, while the NHL and MLB, overwhelmingly white, are much more stable. In addition, black professional athletes are notorious for jewelry, high-stakes gambling, women, and baby-mommas, sorry to say.
@@Lightningslick: I would hesitate to call the MLB overwhelmingly white. There are plenty of black and Hispanic people as well.
What about MLS?
Damn bruh they earn millions and loose all of it due to their actions
It’s so funny how these guys made millions and went broke but a person who earns $30,000 a year manages their money wisely
Very interesting topic and Great video as always. Keep it up!!!
You know they broke when there on espn lol
Let's be honest, you have to be really stupid to lose that kind of money
If you gave me 1 million dollars right now at the age of 46 if I lived to be 86 I'd still be a millionaire. I have no idea how these guys lose all that money
Gambling and drugs ?
@@franciscoroxas3679 gambling i could see maybe...but bro...how much drugs could 1 person do to blow that kinda cash
@@rabbitsfoot8 drugs can sabotage one's judgment, maybe ?
@@franciscoroxas3679 that's good point..guess a bunch of bad decisions fueled by drug use could do it
"You can live like a King for a day, or like a Prince forever..."
Another great vid Andy, keep em coming 🔥 and heavy!
The NBA league should provide some type of financial management training class for these young athletes that they love recruiting even if money management excluded at signing.
that is why you go to college
Me: mom can we get shaq?
Mom:we have shaq at home
Shaq at home : 0:58
... and the "No Tippin' Pippen'' legend was born.
You should also do Athletes who are doing well After NBA like Jamal Mashburn or Vin Baker....I heard they are businessman now
al harrington too, he got a weed company
Pretty sure, not 100%, but seem to remember hearing that Vin Baker is a Starbucks employee. Not a franchise owner, or regional manager... nothing upper level. Like a barista.
Jr. Bridgeman is killing them, along with Dave Winfield.
This is a lesson for all you out there, if it could happen to them, it could happen to you too.
So True
Summary: if you forget where is your car buy a new one
Great job there , really enjoy it. Thanks
Wow to be a friend of Antoine Walker back when he was rich lol
Jewelry is such a waste lmao & I'll take 800k a year for life lmaoo.
LeBron wouldn't have let Pippen go broke like that
Then Lebron might be the one ending up broke
Andy always coming wit dat heat. Love your vids bro.
is 'wit dat " just thug trash slang for "with that"? Or are you really that uneducated?
Rodman is the most predictable of them all. Coleman’s heart was in the right place but the place he put his heart on couldn’t return the love back because of poverty.
“I’d rather buy 80 gold chains and go ignant...”
Scottie Pippen bought a 4 million dollar private jet that didn’t even work. 😭
Dude, where’s my car?
Great video. I expected to see Delonte West here also.
Mo money,mo problems - notorious B.I.G.
Spoken like a true moron. Smart people: Mo money, fewer and less severe problems.
Thanks for this posting
You should do what are nba player who lost their money up to now. Like is sprewell working at Walmart? If so, let me get an autograph
The NBPA and the NBA should create a financial menthorship to the players and former players. It's s shame the players nowdays are fighting to get more money and getting what they want, but they don't fight to secure the finances of the players when they got paid, specially collaborate with the retired players. Those stats about the bankruptcy should be less, specially if they the salary cap would still increasing.
3000% agree
@@zacharythomason7359 I think that already exists, NBA players are getting smarter w money. Look at all the gsw players investing in tech
Some of the most overpaid and some of rudest individuals
Great video Andy
Very interesting,informative and should be a wake-up call for new players. Wow!!!
What about Vin Baker, the world famous Starbucks barista
Im thinking of making friends while playing in NBA team, where everyone are millionares and under 30. The one guy who puts his money on Wendys, seems like the boringest guy who is never associate with. Shoutout to every stripper in Houston whose kids get through colloge thanks to James Harden.
That's Awesome
The last part of your comment 😂😂😂
@bojo perez Harden always goes to the strip club
@@kostasantetokounmpo300 before he was in Houston you could find pictures of KD, Harden and Westbrook with a bunch of strippers. I've tried so hard but I can't find those pictures anymore lol
@@benn255b3 you can find a picture after he lost in the 2017 playoffs
Can you show us how you make your vids?
"Dude, where's my car?" movie would end fast if AI made a cameo 😅😅
I would like to see professional sporting organizations teaching these young men and women about the power of money. The problem is Financial maturity… When you give a 19, 20, 21 year old that kind of financial wealth the first thing they're going to do is spend every penny of it and not know how to invest their money or save their money and stay away from the greedy gold digging people that wants to take it away from them. ESPN done a documentary for their 30 to 30 series called "broke" and it was a very good documentary dealing with the lavish lifestyles that many professional athletes go through. And dealing with all the things that athletes spend their money on. If you haven't seen the documentary please it is a must watch and it's probably on CZcams bits and pieces of it.
As somone who doesnt play sports on any proffesional level i always think to myself 'mann that must be nice to even get a 3-5 million dollar contract and if i got injured i still be able to retire....i wouldnt live the most lavish lifestyle but i could definitely be comfortable the rest of my life
For an undrafted player to live out his dream and then lose everything ?That’s gotta hurt.😂
Shawn Kemp went bankrupt too
Andy love your content so much and wish to be just like you but I’m struggling so much even though I spend hours editing my vids :((
Half of ALL nba players have lost the money they've made playing professionally within 10 years or less.
the goat of the nba yt community andy
Pippen is still doing fine. Just watched a video of Pippen's home. Still got a nice big mansion.
@bongo155 Yeah Pippen was able to bounce back from his struggles
Just not the wife struggling lol
I don't get why the court would force these players to pay a ridiculous amount for the ex-wife's monthly expense. $90k/month or more.
We need more video profiles of former pro athletes who handled their money well.
Dont focus on who went broke.....be very thankful for life....greetings from Jamaica....LIFE