7 NBA Players Who Went Broke

by Jeremy Block - 3/14/2025

NBA players who went broke Dennis Rodman

When most people think of NBA players, they picture mansions, luxury cars, and endless stacks of cash. The reality, however, is a lot messier for some former superstars. While many athletes do just fine after their playing days are over, a few manage to blow through their fortunes faster than you can say "taxes." These players might’ve been kings on the court, but off it? Well, let’s just say they didn’t always make the best decisions. Let’s take a look at 7 NBA players who managed to go broke despite their enormous paychecks.

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1. Antoine Walker

Here’s a guy who knew how to run up the scoring sheet but couldn’t manage his own bank account to save his life. Antoine Walker made over $110 million playing basketball, but you'd never guess it from how quickly he went broke. His favorite hobbies? Blowing cash on jewelry, cars, and more jewelry. Throw in a few bad real estate investments, and a gambling problem that would make Vegas nervous, and boom, Antoine was filing for bankruptcy in 2010.

Walker’s story isn’t just about buying too many diamond-studded chains (although, let’s be real, there were a lot of diamonds). It also came from poor investment choices, like starting his own real estate firm, that only sped up the process. By the time he was done, he had racked up millions in debt. Walker went from being a millionaire to trying to figure out how to pay his creditors. Talk about a 180.

2. Dennis Rodman

Dennis Rodman’s life off the court was wilder than his hair colors -- and that’s saying something. Rodman was a rebounding legend, no doubt. However, when it came to handling money, he wasn’t exactly a Hall of Famer. After raking in just shy of $27 million in salary, Rodman’s idea of “financial planning” was buying expensive cars, throwing wild parties, and diving into some seriously questionable investments. Oh, and his fashion line? Yeah, that was about as successful as a missed free throw.

By the time legal troubles and failed business ventures caught up with him, things went downhill fast. Rodman eventually filed for bankruptcy in 2012, and honestly, his financial disaster was almost as predictable as his on-court antics. I mean, who needs a financial advisor when you’ve got tattoos and a bad-boy persona, right?

3. Allen Iverson

Crossing up defenders was easy for Allen Iverson. But when it came to crossing the line between having money and losing money, he didn’t have quite the same handle. Over his career, Iverson earned around $155 million, but it didn’t take long for him to burn through that cash faster than his crossover. Expensive jewelry, a fleet of cars, and a love for high-rolling drained his bank account.

And it wasn’t just the spending that did him in. Iverson’s financial troubles worsened by a series of legal issues, family problems, and general poor financial planning. By 2012, he filed for bankruptcy, and it was clear that his post-basketball life was going to be much more complicated than his time with the Sixers. For someone who could break ankles on the court, his financial missteps were a tough pill to swallow.

4. Latrell Sprewell

Now here’s a guy who made one of the most famous (and most ridiculous) financial decisions in NBA history. Latrell Sprewell turned down a $21 million extension from the Minnesota Timberwolves in 2004 because, in his words, it wasn’t enough to “feed his family.” Yeah, you read that right. Sprewell had made over $100 million during his career, but apparently, $21 million wasn’t going to cut it. Spoiler alert: he ended up blowing through all of it.

Sprewell’s financial decline wasn’t just about one bad decision, though. He made several poor investments, lived a lavish lifestyle, and even ended up losing his yacht. By the time he filed for bankruptcy, he was already way behind on payments, living way beyond his means. So, Mr. Sprewell, I guess that $21 million would’ve come in handy after all, huh?

5. Chris Washburn

Chris Washburn was the third overall pick in the 1986 NBA Draft, but it didn’t take long for him to show that he was not the sharpest tool in the shed. After a brief three-season NBA career, Washburn earned a fair chunk of change, around $3 million. However, unfortunately, he didn’t know how to handle it. His off-the-court issues -- most notably a substance abuse problem -- helped him burn through his wealth at lightning speed. Couple that with some bad investments, and Washburn was left with little to show for his brief NBA career.

When his playing days ended, Washburn had already squandered most of his fortune. In 1991, he filed for bankruptcy, and the NBA quickly became a distant memory for him. This should be a reminder to understand that talent alone can’t keep your pockets full when you’re not using your head.

6. Jayson Williams

Jayson Williams had the potential to be a dominant force in the NBA, but he had a serious problem managing his life off the court. Over his career, Williams earned about $121 million from his basketball career. So, how did he end up broke? Poor financial decisions, reckless spending, and a series of bad investments certainly helped. But what really sealed his fate was the tragic accident in 2002, where he accidentally shot and killed his limo driver. That incident, coupled with legal issues, drained Williams’ finances in ways he didn’t see coming.

By the time Williams filed for bankruptcy, he had burned through most of his fortune. It’s a sad story, but it serves as a reminder that even if you’ve got millions, life can come at you fast.

7. Shawn Kemp

Shawn Kemp was the guy you wanted on your team if you liked watching people dunk. With his insane bounce and thunderous dunks for the Seattle SuperSonics, it seemed like he was destined for a long, successful NBA career -- and a fat paycheck to go with it. He made almost $92 million, which sounds like enough to live the good life, right? Wrong. By the end of it, Kemp was practically broke -- and not the kind of broke you bounce back from.

Kemp’s finances really took a dive because he didn’t seem to think about the future. Juggling several child support cases while living a lifestyle way beyond his means left him in a financial hole he couldn’t get out of. By 2009, he was filing for bankruptcy. A guy who could fly through the air got grounded by poor decisions -- talk about a real-life slam dunk to the wallet.

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Start:	March 14, 2025 @ 11:59 PM
Expert:	Arun Shiva (Indian Cowboy)
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7 NBA Players Who Went Broke

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