Antoine Walker Attributes Gambling, Bad Real Estate, And More To His $110 Million Loss
Antoine Walker
ESPN’s documentary titled “Broke,” highlights the financial failure of professional athletes who once acquired millions of dollars in their athletic career. In a recent filming of the documentary, former NBA superstar Antoine Walker discussed how he spent $110 million over a course of 14 years. Walker attributed bad real estate deals, gambling debts, and frivolous spending to his demise.
“Personally, I was involved in a lot of real estate projects with the banks where I was the personal guarantor of the loans,” Walker told ESPN. “And when the recession hit back in 2007 and 2008, the banks went really hard after the money. There’s probably like 7 to eight banks that we had loans with. And it kind of hit me all at once. I had to pay back the money.” In addition to the aforementioned causes of his demise, Walker was twice the victim of armed robbery in his hometown in Chicago.
In May 2010 he filed for bankruptcy with $12.7 million in debts and $4.3 million remaining from his fortune. “You create a lifestyle for yourself,” he told ESPN. “You’re spending a lot of money as you’re living through a 13-year NBA career.” He attempted to return to the NBA in 2010, but failed to make a team. He played with the Guaynabo Mets in Puerto Rico. He then went on to play for the Idaho Stampede in the development league, where he retired again in 2012.
The documentary aired on ESPN at 8pm on Tuesday.
When we earn the “MONEY” we join the wrong race. Coming out of slavery, that left US without anything we admired those who had EVERYTHING that was gained through our hard work for 300 hundred of slavery. We lack discipline and structure when it comes to money and host of other things. We must check ourselves and teach the current generation earn, save, invest and spend, breaking the cycles of poverty. Change is coming .