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Top 15 NBAers Who Wasted Huge Amounts of Money

“Started from the bottom now we’re here,” is not only the most popularized lyrical hook in the last year, but also a tagline, of sorts, for the backstories of many would-be NBAers. And really, at the end of the day, Drake (although Canadian) is speaking about one of the hallmarks of the American Dream, for one to begin with nothing and ascend to greatness. What seems to be missing from the narrative with respect to NBAers is foresight; the notion that one cannot play basketball forever and the dream eventually dies. According to Sports Illustrated, nearly 60% of former NBAers are broke after retirement, “sucked into bad investments, stalked by freeloaders, saddled with medical problems, and naturally prone to showing off, many [former NBAers] get shocked by harsh economic realities after years of living the high life.”

The NBA has made a concerted effort to reverse this trend with their Rookie Transition Program, which was originally initiated by the NBA Players Association. With respect to player finances alone, the program focuses on: the business of basketball, continuing and technology education, drug and alcohol education, financial education, legal education, media and image communications and professional ethics. The four-day program is dubbed as “mandatory” for first year NBAers during the summer that immediately follows the draft – so they take the course before they play on the professional hardwood. No doubt age and maturity are huge factors as well as socio-economic background when it comes to young ballers spending all of their money.

As a lay person/reader, if you want to see how one spends $100 million, yeah, and in some cases more - read on. This is the Top 15 NBAers Who Wasted Huge Amounts of Money.

15 Vin Baker 

via businessinsider.com

14 Jason Caffey 

via mmm360.blogspot.com

13 Robert Swift 

via usatoday.com

12 Michael Jordan 

Sam Sharpe-USA TODAY Sports

11 Charles Barkley 

Brett Davis-USA TODAY Sports

10 Dennis Rodman 

9 Eddy Curry 

via espn.go.com

8 Eric Williams 

via sportstardom.com

7 7, Gilbert Arenas 

via blackbutterflylifestyle.com

6 Antoine Walker 

via bleacherreport.com

5 Kenny Anderson 

via totalprosports.com

4 Derrick Coleman 

via eurweb.com

3 Allen Iverson 

2 Shawn Kemp 

via athletepromotions.com

1 Latrell Sprewell 

via jetmag.com

This list has been a mix of former NBAers that have gone broke, but also ones who just like to spend money in unconventional ways simply because they can. Latrell Sprewell is in a category of his own. Like Macbeth, someone, maybe three witches, maybe biased friends, who knows, but someone told this guy he was the best – then came his downfall. Sprewell made over $100 million in the NBA. During his NBA years, he choked a coach in Golden State, where he was suspended and his contract wasn’t renewed, he then went to the Knicks and then to Minnesota, where he turned down $21 million over three years (that’s $7 million a year), and then interest in his services waned. He played a year in Minnesota and was basically done. Sprewell waited for the bids to come for his services, which if you look at his career numbers, was almost a guaranteed 18 ppg, but they never did. At the end of the day, his hamartia was his inflated ego.

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Top 15 NBAers Who Wasted Huge Amounts of Money