Antoine Walker Did Not Manage His Money Right Way
- Updated: March 22, 2013
Sometimes, having too much money can be a great problem especially if it wasn’t managed the way it should be. Antoine Walker has found fortune in the basketball as he was able to make $55 million in a span of 12 years apart from endorsements. What happened to his millions knowing that he is now facing check frauds and unpaid debts amounting to $4 million?
With $1 million worth of bouncing checks in Vegas, a big portion of his earnings has already gone down the drain. Besides, losing $1 million in gambling is kind of alarming. This is just one of the scenarios on how his money evaporated in a blink of an eye.
As for Walker’s attitude towards money, he somehow became too generous to his friends and teammates. Walker spent years of lavish lifestyle not only for himself but for his friends as well. During the hay days, Walker will not allow himself to wear a suit twice. Therefore, he opted to have a new suit every single day for the payoffs. According to his teammates, he would spend for giant dinners and extravagant limo hire with his buddies as he takes them all to town.
At one point, Walker supported seventy people comprising of friends and relatives financially.
His mother claimed that Walker did not have many gambling problems. He has stopped partying and that he is just enjoying his life peacefully.
Unbelievably, $110 million is not enough to spend for a lifetime. As for Walker, he did not realize where this money would come from if his basketball career ends soon. Some of his money went to poor investments while others were given to charities.
Betting $15,000 on a game of blackjack is somewhat a hostile retirement strategy. He loved to play blackjack, and if there was no casino nearby, he was betting on new online casino.
In the year 1999, Walker signed a 6-year contract with Boston Celtics amounting to a $71 million deal. Anybody’s perception for $71 million in a span of six years is totally a lot of money to spend. President and coach Rick Pitino even said that Walker will never have to worry about money in his life. With what’s happening right now, Pitino got it wrong.
Although Walker spent some of his money to charity and became too generous to his friends and relatives, perhaps his lavish lifestyle brought him to a great chunk in his account.