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View Full Version : Antoine Walker files for bankruptcy, includes championship ring



Kakaroach
05-27-2010, 07:28 PM
Former Miami Heat forward Antoine Walker has filed for personal bankruptcy protection, Crain's Chicago Business has reported.

Walker reportedly filed for Chapter 7 after being served with a $2.3-million foreclosure suit on a Chicago home he bought for his mother. Walker lists liabilities of $12.74 million and assets of $4.28 million, and his assets include his 2006 Heat NBA championship ring. http://www.sun-sentinel.com/sports/miami-heat/fl-antoine-walker-bankruptcy-0528-20100527,0,7362845.story?track=rss

The part in bold amazes me the most. Amazing he is so in debt he has to sell off his championship ring.

HoopsDrive
05-27-2010, 07:29 PM
:facepalm:

carter15
05-27-2010, 07:30 PM
that sucks.

Ragun
05-27-2010, 07:33 PM
wow

xabial
05-27-2010, 07:33 PM
you gotta feel for the guy but that is still an epic fail

Shahrose
05-27-2010, 07:41 PM
wow

Aapox
05-27-2010, 07:42 PM
He sure never looked like the smartest guy, just looking at him.

JNA17
05-27-2010, 07:44 PM
he has to give away his ring? Holy crap can they do that?

thescore53
05-27-2010, 07:44 PM
how..... i cant see how burn through that much money

dougie5627
05-27-2010, 07:46 PM
no player deserves to lose a ring, i wonder if horry or someone will throw him one of their spares. i here russel has a few too

dodie53
05-27-2010, 07:48 PM
ouch
too bad for him

tyfreak
05-27-2010, 07:50 PM
damn,that does suck

KmB728
05-27-2010, 07:51 PM
Walker use to be my favorite... its a shame that he ruined his life

JordansBulls
05-27-2010, 07:57 PM
http://www.sun-sentinel.com/sports/miami-heat/fl-antoine-walker-bankruptcy-0528-20100527,0,7362845.story?track=rss

The part in bold amazes me the most. Amazing he is so in debt he has to sell off his championship ring.

This is what happens when you don't know what to do with money.

JordansBulls
05-27-2010, 07:58 PM
he has to give away his ring? Holy crap can they do that?

Randy Brown gave up all 3 of his on the Bulls.

Giannis94
05-27-2010, 08:07 PM
wow lol

Slimsim
05-27-2010, 08:09 PM
Should have went to college.

PrettyBoyJ
05-27-2010, 08:09 PM
crazy thing is I heard he cashed in about 100 mil from the nba idk where the hell that went.. smh

runforrestrunx9
05-27-2010, 08:12 PM
i dont see how he can manage to waste all that money

mvb815
05-27-2010, 08:20 PM
what an idiot, i hope he can get in shape and maybe make an nba return, it seems like there isn't anything else he can do.

but then again giving him more money might be a bad idea.

DisturbedFTW83
05-27-2010, 08:21 PM
his post-NBA career was on ESPN i believe, he took part in realty which didn't flourish like it was supposed to or something like that, giving money to his friends, entourage, girls, and buying places he didn't live in for millions of dollars.....................nevermind, my pity will go elsewhere, that just sucks he has to do this, should have gotten a great financial advisor. Sucks but oh well.

SteveNash
05-27-2010, 08:22 PM
http://www.sun-sentinel.com/sports/miami-heat/fl-antoine-walker-bankruptcy-0528-20100527,0,7362845.story?track=rss

The part in bold amazes me the most. Amazing he is so in debt he has to sell off his championship ring.

EDIT: So looking at more info here
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=38394

It looks like Walkers screwed but can still bounce back, maybe..

Sadds The Gr8
05-27-2010, 08:22 PM
he has to give his ring? wow...

*Superman*
05-27-2010, 08:22 PM
I feel REALLY bad for him even though he may be an idiot.

td0tsfinest
05-27-2010, 08:24 PM
What a moron. He's only been out of the league for like a year. But Eddy Curry still takes the cake. Dude's going to file for bankruptcy before he's out of league.

iggypop123
05-27-2010, 08:29 PM
why did walker shoot too many 3s? cause they dont have 4 point shots.

mia305king
05-27-2010, 08:29 PM
I kind of feel embarrassed that this guy won a ring with the Heat

RadiantShot
05-27-2010, 08:47 PM
:facepalm:

JasonJohnHorn
05-27-2010, 08:53 PM
Randy Brown gave up all 3 of his on the Bulls.

Really? Randy Brown always seemed like a smart guy. Great defender anyways.

That's a bummer about Walker, but he's been headed that way for a while, and cut out early on his career when he still had game. But I'm sure there is a European team willing to pay him a few million to ball for them. I mean, the guy is only 34 and a lot of great players have their best years from 30-36 (Jordan, Rodman, Nash, Kidd), and lots of other guys who keep it going up until 40 (Stockton, Malone, Malone, Kevin Willis), so there is no reason he shouldnt still be playing. A guy with his skill set, talent and experience could get mid-level exceptions no problem with the proper work ethic.

bmac
05-27-2010, 08:55 PM
how much did walker make a year? like what ten mill a year pretty nice. and how long did he play for atleast ten years okay. and doesnt miami have no taxes so for the two years he played there he made 20 mill legit. I rly dont understand how these players make so much money and just waste it on houses, nice cars, gambling, and whatever else you can do with millions of dollars. i rly like walker dont get me wrong but he deserves what he got. there r ppl in this world that have nothing and u get athlets who make millions then after when they retire go broke 5 years later wtf. im glad he lived a good life while he did cause now he prolly has nothing.

DMasta718
05-27-2010, 09:02 PM
SMH. These players need to know how to take care of the money they make.

td0tsfinest
05-27-2010, 09:03 PM
I'm sure he had to pay Juwan Howard a couple of million :D

clutchski
05-27-2010, 09:10 PM
I can't believe they have all that money and are dumb enough not to be able to control their spending.

RaptorizedKevin
05-27-2010, 09:17 PM
lol people dont know how to spend money? wtf did he go to school? or did he just blow out money like nothing..

Wisdom Listens
05-27-2010, 09:19 PM
Give me 1 million and I'll make it last the rest of my life.

Bishnoff
05-27-2010, 09:27 PM
Unbelievable how someone who made that much money could file for bankruptcy.

Jonathan2323
05-27-2010, 09:31 PM
No wonder that hoe on Basketball wives left him.

AddiX
05-27-2010, 09:42 PM
Dude was lucky to get that much money and a ring. Dude got a lucky contract and chucked up shots like no one else.

Don't know why people feel sorry for a guy who was a millionaire. I'm sure he had has fun burning through it.

Sixerlover
05-27-2010, 09:51 PM
I'd buy a three million dollar house where I want to raise my family, two cars not going above $75,000, Give my close family enough $ to live for the rest of their lives, no yachts, no planes and use the rest to pay bills, clothes, food etc, and start other businesses and investments to make the money work for me. That's just a general blueprint, but it would work perfectly.

Caps1989
05-27-2010, 09:58 PM
It really needs to be a requirment that all hopeful prospects coming into the NBA should be required to take atleast one year in a buisness managment or economics class while in college.

bmac
05-27-2010, 09:59 PM
i think they just get caught up with all the fame and stuff and just want to go all out and buy everything cause im sure for a lot of ppl they never had this much money to spend. i dont think they understand when u buy five huge houses u know u have to pay the heat the house. eletricity. water and when those pay chqs from the nba stop comming in ur bills dont. and i dont think it helps when u have ur entourage following u around and im sure u have to pay for all their things so they r just mooching off you. also i read someone that he had gambling debts another thing that doesnt help with your spending. im with the guy that posted earlier give me a million id be fine for the rest of my life, id manage my money. But no these ppl throughout their careers make 100 million and go broke.

OA SLAY
05-27-2010, 10:08 PM
Unemployed # 8250379442.....

Wisdom Listens
05-27-2010, 10:09 PM
It really needs to be a requirment that all hopeful prospects coming into the NBA should be required to take atleast one year in a buisness managment or economics class while in college.

What about the players who come straight from high school?

Caps1989
05-27-2010, 10:10 PM
What about the players who come straight from high school?

When do they come straight form high school these days, those days are over dude.

Sixerlover
05-27-2010, 10:12 PM
It really needs to be a requirment that all hopeful prospects coming into the NBA should be required to take atleast one year in a buisness managment or economics class while in college.

That gets a little too tricky. What defines a hopeful prospect? Maybe I think I can make the NBA :p.. And even so what if the player is a philosophy major, and just vows not to go to class that semester, and wastes a roster spot in a class.

I just believe it is on them to make the right choices, starting in college with getting the proper prep for the millions.

fadedmario
05-27-2010, 10:14 PM
Rich or poor, it doesn't matter. Americans in general have a hard time living within their means. We learn that from our government.

OA SLAY
05-27-2010, 10:16 PM
He should be ordered to give his ring to Eddie Jones a true Pro!

OA SLAY
05-27-2010, 10:18 PM
What about the players who come straight from high school?

You can no longer come straight outta high school.

blacknell
05-27-2010, 10:26 PM
Randy Brown gave up all 3 of his on the Bulls.

How is randy brown broke he is a assisstant coach now ain't he

Wisdom Listens
05-27-2010, 10:26 PM
You can no longer come straight outta high school.

You're right, but you don't need to attend college either.

Korman12
05-27-2010, 10:27 PM
Where did all his money actually go?

Caps1989
05-27-2010, 10:32 PM
That gets a little too tricky. What defines a hopeful prospect? Maybe I think I can make the NBA :p.. And even so what if the player is a philosophy major, and just vows not to go to class that semester, and wastes a roster spot in a class.

I just believe it is on them to make the right choices, starting in college with getting the proper prep for the millions.

anyone going to the nba

Wisdom Listens
05-27-2010, 10:39 PM
When do they come straight form high school these days, those days are over dude.

Ever hear of Brandon Jennings? The point being, what about the players who decide not to attend college but play overseas or professionally somewhere in the United States before they declare themselves eligible for the draft? If anything, instead of all players having to take an economic course in college, perhaps the NBA should offer a mandatory economic class for all rookies, much like the rookie education course in the NFL.

MJ-BULLS
05-27-2010, 10:46 PM
sucks he has to include his ship ring.

central2003
05-28-2010, 04:47 AM
Feel really bad for him.. I guess NBA really needs to lengthen those money management classes. BTW Eddie Curry is next to

GSW Hoops
05-28-2010, 05:16 AM
I feel REALLY bad for him even though he may be an idiot.

May be?

GSW Hoops
05-28-2010, 05:18 AM
Where did all his money actually go?

Taco Bell, Bentleys and booze, in that order.

GSW Hoops
05-28-2010, 05:23 AM
Ever hear of Brandon Jennings? The point being, what about the players who decide not to attend college but play overseas or professionally somewhere in the United States before they declare themselves eligible for the draft? If anything, instead of all players having to take an economic course in college, perhaps the NBA should offer a mandatory economic class for all rookies, much like the rookie education course in the NFL.

Not going to help much if they're handing out millions of dollars to 20-year-old kids. If someone handed me that much money when I was 20, I'd blow it all on Bentleys and jewelry too. Perhaps they should require economics courses for all NBA players for the first 5 years of their careers to reinforce the message.

The best way for someone to learn money management skills is to be broke for a few years, preferably when they're young (for instance, while they're in college studying for 4 years), but it doesn't look like that's gonna happen in the NBA with a one-year college requirement.

champ101695
05-28-2010, 09:04 AM
That sucks. You gotta feel for him. He has to give everything....maybe he will be on something like TNT idk

effen5
05-28-2010, 09:21 AM
How is randy brown broke he is a assisstant coach now ain't he

That was before he got the assistant job. He sold it in the summer

phi2134
05-28-2010, 09:26 AM
Does anyone know if the NBA has any type of Savings Investment Plan like most companies do? If they do have this type of financial savings mechanism, I wonder why players don't use it more often. And if they don't have it, I would think they would want to set something up and make it required. Similar to a regular companies SIP, where a certain portion of your paycheck goes into a 401k or IRA.

awmathewsjr
05-28-2010, 09:29 AM
It's amazing how many stories there are about proffessional players going broke after their career. DAMN THE RING, THE HOUSE HE BOUGHT HIS MOM IS IN FORECLOSUE.

wasome10
05-28-2010, 09:55 AM
how..... i cant see how burn through that much money
Lots of ways to do that.....women, women and more women!!!!!!:facepalm:

Kakaroach
05-28-2010, 11:37 AM
EDIT: So looking at more info here
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=38394

It looks like Walkers screwed but can still bounce back, maybe.. Ahh I see. I highly doubt he can make it back to the NBA to pay off all of that debt though. So it looks like he will lose his ring. How embarrassing.

#1 Jazz Fan
05-28-2010, 11:54 AM
No way a star overspends his income. What else is new. they always do that. When they should properly invest etc so then after the nba they are able to retire and live wealthfully.

C_Mund
05-28-2010, 12:15 PM
Can't say I care too much.
People like us survive on regular salaries and still find a way to pay for these boneheads to play the game that WE love.
.....not that I'd want any harm to come to anybody, but I'll never feel too much pity for somebody who had the world and gambled it away.

krest213
05-28-2010, 12:17 PM
Smh.. sad and pathetic

Heater4life
05-28-2010, 12:21 PM
These guys just dont do things the right way (well at least some of them). foreclosing a 2.3 million dollar home that he bought for his mom? thats a start. why a 2.3 million dollar home? why not 1 million, i promise you it'll be a nice house. lol this is only for his mom, what about his homes? idk this guys just throw money then look surprised when they're broke and have to work like us.

C_Mund
05-28-2010, 12:24 PM
Ever hear of Brandon Jennings? The point being, what about the players who decide not to attend college but play overseas or professionally somewhere in the United States before they declare themselves eligible for the draft? If anything, instead of all players having to take an economic course in college, perhaps the NBA should offer a mandatory economic class for all rookies, much like the rookie education course in the NFL.

I'm pretty sure they do....isn't that where Beasley was caught gettin high? It's a whole thing where rooks get together for a few days and coaches, players and whatever talk to them about being responsible and representing the L.
.....but good point, it's obviously not doing what it's supposed to

steelers91
05-28-2010, 12:27 PM
if anyone is inetrested in how much he made just go to basketballreference.com

Dol-Fan
05-28-2010, 12:28 PM
you gotta feel for the guy but that is still an epic fail

Why should anyone feel for him? These athletes are given everything in the world to play a game. Hire a financial advisor. It will cost to them what a pack of gum costs to me. This is absolutely pathetic and personifies so much of what is wrong with the world in these days. Give me 1/25 of what Walker made over his career and I'll build it into a freakin empire.

Raoul Duke
05-28-2010, 01:02 PM
Does anyone know if the NBA has any type of Savings Investment Plan like most companies do? If they do have this type of financial savings mechanism, I wonder why players don't use it more often. And if they don't have it, I would think they would want to set something up and make it required. Similar to a regular companies SIP, where a certain portion of your paycheck goes into a 401k or IRA.


The NBA provides the players with (or at least gives them the option of taking advantage of...) classes on managing finances, owning guns, negotiating groupies... I'm willing to bet they provide a nice retirement plan of some sort, or at the very least the option to invest in something that's fairly lucrative and low-risk.

Anywho, I've been hoping this would happen to Antoine for years now, so it's like a dream come true for me.

I do feel really bad for his moms, though... that sucks hard.

Yams
05-28-2010, 01:19 PM
If a person can go bankrupt making $20,000 a year, they can go bankrupt making 20 million a year. The amount of money you have does not make you smarter. Just look at all the lottery winners who lose it all after a few years.

People don't have enough patience to save or invest their money properly. This applies to everyone in society.

nllumberco
05-28-2010, 01:37 PM
I will volunteer to be a case study for how to be a lottery winner/athelete/millionaire and not go broke. Dummy.

central2003
05-28-2010, 01:51 PM
The NBA does have Money Mang classes ... But they are available for those players who want to go .. they are not mandatory .. by the way it looks that might change soon.

DengelBerry
05-28-2010, 02:39 PM
you gotta feel for the guy but that is still an epic fail

not when your stupid and waste money like he did, that was his own fault.

LkrLand
05-29-2010, 05:07 AM
http://www.sun-sentinel.com/sports/miami-heat/fl-antoine-walker-bankruptcy-0528-20100527,0,7362845.story?track=rss

The part in bold amazes me the most. Amazing he is so in debt he has to sell off his championship ring.

This was definitely his won fault. For some reason, I remember him claiming that all he wanted to do was win that championship ring. Whatever, I just hope he makes it through this tough time. I think a lot of us can relate to him in some way.

ldc62
05-29-2010, 05:34 AM
No pity from me. Obviously I don't know how it feels to have that much cash, but even I don't think I would waste it all like an idiot. Don't these guys think of backup plans/small investments?

Mplsman
05-29-2010, 12:10 PM
Ouch. That hurts even worse than watching him attempt to play a couple seasons ago.

Jahari Kavi
05-29-2010, 02:12 PM
i currently stay in louisville and my boys have been seeing toine in the clubs here lately.....he might be working there.....sad for him.

JayW_1023
05-29-2010, 02:22 PM
He has a quick trigger not only on the court but also when it comes to spending money I guess.

maddBat
05-29-2010, 02:32 PM
mannn remember when he was on the celtics killin it on the perimeter.. o well. :D

Montana_Rob
05-29-2010, 08:11 PM
ya thats just called making dumb purchases

too bad he never had someone to tell him to invest, but instead asking for handouts

USMCLaker
05-30-2010, 05:05 AM
Hope things work out for you AW.