Wouldn’t it be great to be in the NBA? Getting paid millions to play basketball, who in their right mind would turn that down? Well, anyone with a mind for keeping their money might not be too thrilled to be drafted into the Association because over 60% of NBA players reportedly go broke within five years of retirement.
It makes sense why it’s so common for NBA players to go broke. If you were young, wealthy and constantly on the road, wouldn’t you too be sucked into the illustrious world of champagning and campaigning? Of course, hitting the clubs every night is only viable if you have an organization worth several million (or billion in the big markets) lining your pockets.
According to MarketWatch, the average NBA player spends about $42,498 a month. Only 6% of that spending was on entertainment. So while some players manage to grow out of the champagning and campaigning habit while they are in the league to ensure they get the rest they need to compete at the highest level, others let it derail not just their careers but their whole lives. It’s sad to think that these former stars, not long after curtains have closed on their careers, that they chose to blow all their money at the club.
Let this be a warning to us all. We may think making it rain in the club is a baller move, but the only thing it’ll get you in the end is baller’s remorse. Here are the 15 NBA Players Who Blew ALL Their Money At Clubs.
15 John Wall
John Wall doesn’t make as much money as he should. This season he made just under $17 million, and though his salary will increase to $18 million in 2017-18 and $19 million in 2018-19, that is a criminally low price tag for the NBA’s fastest man. To put things in perspective, Reggie Jackson makes as much as John Wall. Now that’s just not right.
Even though Wall is criminally underpaid, that’s never stopped the Wizards star point guard from making it rain at the club. In December 2015, John Wall was stopped at the V Live strip club in downtown Dallas after a Wizards-Mavericks game where he showered dancers with almost $50,000, according to TMZ Sports.
The tabloid reported that the dancers “LOOOOOVED Wall” because of how willing he was to part with his cash. Throwing that kind of money around when you’re already making less than you deserve is not a good idea. But hey, Wall can probably always get a loan from paid-teammate Bradley Beal if he needs it.
14 Jason Caffey
He may have not played a big part in the 1990s Bulls dynasty, but he still won two championship rings in two and a half seasons with the team. The Bulls shipped Caffey to Golden State in 1998 and the 6-foot-8 power forward agreed to a seven-year, $35 million contract extension the following season. He was traded to the Bucks in 2000 and his career never recovered.
Caffey was arrested for assault outside a strip club in 2003 and the Bucks bought out his contract. He was arrested again in 2007 for failing to pay child support for his 10 children from eight women. Now, technically Caffey lost all his money to child support, but how else does an NBA player who averaged 7.3 points and 4.4 rebounds for his career get himself 10 kids from 8 different women unless he’s waving a stack of bills around at last call?
13 Charles Barkley
Don’t let the cushy TNT job fool you, Charles Barkley was—at one point—broke. Like many of his NBA predecessors, the former MVP lost approximately $10 million back in 2006 to gambling. And though Barkley’s gambling habit may have been the way he burned the bulk of his fortunes, he’s certainly no stranger to the club life either.
Just this past February, 54-year-old Charles Barkley was spotted manning the DJ booth at Koo Too Room in Atlanta on a Tuesday night. He took control of the club’s mic, and although he didn’t mention Lebron by name, he did have plenty to say to all the “haters” out there, which also may include beloved Knick Charles Oakley.
Don’t act so surprised, Sir Charles will be the first person to tell you that he is not a role model. And that’s especially true with the way he’s handled his finances.
12 Shawn Kemp
Shawn Kemp was one of the greatest in-game dunker in NBA history. His dunked so hard, it broke the condoms he would wear after hitting the clubs for some post-game celebrations. If you have any theories as to how else Shawn Kemp fathered seven children by six women, I’d like to hear it.
The Sonics forward earned roughly $92 million in his NBA career and lost it all to child support. His post-NBA life also includes a failed comeback attempt, multiple drug possession arrests and appearing on Pros vs. Joes.
Now, it’s important that Kemp’s stardom came years before Tinder made extramarital affairs a lot easier for star athletes. For Kemp to meet all the women he would later impregnate, he had to hit the clubs. Although, like Caffey who previously appeared on this list, it’s probably safe to say that he wishes he hadn’t because it cost him big time.
11 Antoine Walker
Over the course of Antoine Walker’s glorious, man-boobed NBA career, he was able to earn approximately $108 million. Not bad for a big man that was allergic to the paint and jacked up every long range shot he got despite being a below average shooter.
In 2010, 2 years after he retired from the NBA, he filed for bankruptcy. What happened is that Walker’s $108 million was spread a little too thin between gambling, bad real estate investments and all the other money pits professional athletes get sucked into. Walker was reportedly supporting approximately 70 people in his entourage by the time he went bankrupt.
With an entourage that big, it would seem like a waste not to hit the club. Then again, wasting that size of an entourage on a club pales in comparison to wasting $108 million…Besides, even if you are an NBA player, can you really get 70 people up in the club?
10 Gilbert Arenas
Agent Zero made more than $160 million over the course of his career, and, yes, that does include all the money he made from the amnestied Magic contract to not play basketball. Of course, being Gilbert Arenas, he couldn’t hang on to it. Arenas was an unpredictable gunslinger on the floor and he clearly handles his finances in the same way.
In October 2016, when Arenas was set to receive his final NBA paycheck and said that he couldn’t afford to keep his kids in private school. However, whenever he needed money for the club, he was more than able to figure out a way to get it.
In January 2016, Arenas was investigated for credit card after he posted this on Instagram:
“You kick me out your strip club, you getting robbed…..I know what yall thinking (soft [expletive] aint robbing no body) I would like too inform all the big ballers out there,im the reason BIG strip clubs #fingerprint now hahaha..I’ll order $80,000 worth of ones, throw about $40,000 of it too the strippers, sneak the rest out the club…have one of my #teammates sign that bill….wake up the next day, call #americanexpress (my card was stolen at the strip club last night,and these charges aint mines) with a (no questions asked policy) once they see its not ur signature, they refund you ALL your money back lmaoooo soooo I got the $80,000 I spent back..PLUS the $40,000 I took out the club… #aintnotrickingbihh strippers gave me that [expletive] on the house, it cost me nothing hahahaha #howyoudoing# ranoffontheclubTWICE #greatinvestment #KOD‘S #MAGICCITY just call it a club appearance fee lmaooo”
Never change, Gilbert.
9 Will Barton
Nuggets shooting guard Will Barton is guaranteed $3.5 million next season and will enter free agency the following summer. Come summer 2018, if Barton can stay healthy and productive, teams in need of a streaky scorer will give him a massive pay raise thanks to the salary cap explosion we encountered last offseason.
Even with the massive pay raise coming his way, Barton may need to rethink how he handles his money. In February 2016, TMZ Sports released a video of Barton and Nuggets teammate Kenneth Faried at a Dallas strip club, which featured Barton and Faried spending and throwing around approximately $40,000.
If Barton can blow $40,000 on a Thursday night in downtown Dallas, just think about what he’ll do once he gets paid… Let’s hope that he has someone he can trust handling his money before he ends up in the broke 60% of retired NBA players.
8 Latrell Sprewell
Latrell Sprewell will forever live in NBA infamy thanks to the time he spent as a Golden State Warrior that featured him choking out his coach. He’ll also forever be remembered as the player that turned down a $21 million contract extension on the basis that he had a family to feed.
“I have a family to feed … If (team owner Glen) Taylor wants to see my family fed, he better cough up some money. Otherwise, you’re going to see these kids in one of those Sally Struthers commercials (where she solicits donations for starving children in developing countries) soon,” Sprewell said at the time.
That marked the end of Sprewell’s NBA career and the start of his financial trouble. His yacht was seized after he defaulted on a home, two of his homes were foreclosed on and he was also sued by the mother of his four children for $200 million. Based on the child support lawsuit, is it safe to assume the family Sprewell was referring to was his club family?
7 Allen Iverson
In his heyday, Allen Iverson was not just the NBA’s top scorer, he could blow money like nobody’s business. According to TMZ, Iverson’s monthly expenses included $10,000 for clothes, $10,000 for groceries and household items, $10,000 for entertainment and restaurants, and $1,000 for dry cleaning. Now that’s a lot of money, although it’s important to note that “entertainment” does not include strip clubs.
Former 76ers teammate Matt Barnes told Sports Illustrated that he used to watch the star point guard anywhere between $30,000 and $40,000 at gentlemen's clubs whenever they went out.
“Allen was the first guy that showed me how NBA players spend money in strip clubs. That guy went. HARD. He'd throw so much money, and this was when I was first in the league, that I used to take my foot and scoop the s--t under my chair and either re-throw it or put some in my pocket. He'd throw $30,000, $40,000 every time we went. I'm like, ‘You realize what I can do with this money?’”
6 Rick Mahorn
Unlike the other NBA players that appear on the list, this former Detroit Piston “Bad Boy” didn’t blow all his NBA earnings at the club so much as owning nightclubs.
In 2010, Mahorn and his wife filed for Chapter 7 bankruptcy because of failed investments, which includes the nightclubs they opened in the 90s. They listed $228,603 in assets and $518,688 in liabilities at the time of the filings, which you don’t have to be an accountant to know that’s not good.
Mahorn made over $6 million throughout his playing career and pulled a six figure salary as a Pistons commentator. Mahorn and his wife had just $1,101 dollars to their name when they filed. The couple also listed three late-model cars and a house that's value had decreased by $300,000. Perhaps saddest of all, Mahorn no longer has his championship ring from his days with the Pistons, telling the Detroit News that "it's gone."
5 Scottie Pippen
Scottie Pippen is primarily known as the best second banana in NBA history but he should also always be remembered as one of the least financially savvy players of his generation. Pippen blew $120 million on a number of poor investments, most notably a private jet.
In 2002, Pippen paid $4.3 million for a Gulfstream but neglected to have the jet inspected before finalizing the purchase. Had he remembered to get his new jet checked, he would have found out that he jet needed more than $1 million in repairs. Pippen was never able to repair the broken jet and just left it to collect dust in a hanger.
Nowadays, Pippen’s regular appearances on ESPN are certainly helping his bottom line, but considering the 51-year-old Hall of Famer continues to be spotted at the club amidst breakup rumors, it’s safe to assume that Scottie’s doing what he’s always done best: blowing cash.
4 Kenny Anderson
Want to go broke in a hurry? Follow in Kenny Anderson’s footsteps and have three divorces, eight kids and pay child support to five different women and you’ll be broke before you know it.
In March 2005, Anderson, the former No. 2 overall pick of the New Jersey Nets in 1991, was waived by the Los Angeles Clippers, his ninth team, effectively ending his NBA career after 14 seasons, 10,789 points and 5,196 assists and one all-star team (1993-94). He filed for bankruptcy shortly afterwards.
Despite his consistency on the court, Anderson had a reputation for being a womanizer and a partier in his playing days. Since his final crisis, he went back to college to complete his degree and works as a trainer for NBA hopefuls in Florida.
3 Darius Miles
The number 3 pick in the 2000 NBA Draft, Darius Miles earned over $62-million in his NBA career but had to declare bankruptcy in September 2016 when it came to light that he $460,385 in assets and $1.57 million in liabilities.
Miles technically didn’t blow all his earnings at the club, but his downward spiral certainly began at the club. Miles was having trouble adjusting to the NBA’s limelight and in October 2003, a man said he was attacked by Miles in an East St. Louis nightclub. No charges were filed against Miles. In January 2005, he was suspended from two games after a verbal clash with coach Maurice Cheeks. He later apologized. Miles was later suspended for 10 games for violating the league’s substance abuse policy.
Violent outbursts, substance abuse and injuries derailed his career and who knows what could have been had he not stayed away from that club in 2003.
2 Dennis Rodman
There is no shortage of wild Dennis Rodman stories so we’ll do our best to keep this brief.
According to CelebrityNetWorth.com, the Worm is currently worth negative-$1 million. In his NBA days, Dennis Rodman had a salary of $27 million, which doesn’t include his endorsement deals. After leaving the NBA, Rodman was struggling to pay his own bills. He couldn’t keep up with all of his child support payments, which is why he ended up in court for the $809,000 he owed to his third wife in back child support — along with the $51,000 he owed her in back spousal support.
It probably doesn’t help that TMZ Sports caught Rodman on tape in 2011 bragging about the time he dropped $800,000 in a strip club in a single night. Dennis Rodman checked into rehab shortly after his return from North Korea while maintaining he was not an alcoholic.
1 Vin Baker
Vin Baker was a good kid growing up. He was raised in the very nice neighborhood of Old Saybrook, CT, by his pastor father and became a college star. After he made the NBA, he continued to experience success, making four All-Star teams. But somewhere in the middle of his NBA career, it all fell apart.
Baker’s alcoholism first came to light in 2003 when he was suspended by the Boston Celtics, who insisted that Baker go get treatment for the rest of the 2002-03 season in a 28 day program at Silver Hill hospital in Connecticut. Over the course of the following season, Baker attended AA meetings and underwent testing for alcohol abuse. Although he had made progress in his recovery, Baker’s career faded quickly after his alcoholism was made public. It all ended when Baker was arrested in 2007 for drunk driving.
Baker made over $100 million in his playing days, but blew it all on drinking, bad investments and now works at Starbucks. "In this company," he told the Providence Journal, "there are opportunities for everyone. I have an excellent situation here at Starbucks and the people are wonderful."