A few years ago, the NBA Players Association stated that 60 percent of NBA players would be bankrupted within five years of retirement. During their careers, many players lived an extravagant lifestyle where they spent money faster than it came in. Below is a list of the Top 5 NBA Players who declared for bankruptcy.
Latrell Sprewell
Former NBA player Latrell Sprewell first gained notoriety during his years with the Golden State Warriors. During a practice in 1997, Sprewell actually choked his coach, P.J. Carlesimo, and was subsequently suspended for 68 games. Sprewell still went on to have a successful and lucrative career, and earned almost $100 million playing for Golden State Warriors, New York Knicks and Minnesota Timberwolves.
However, Sprewell’s career came to an abrupt end when he turned down a 3 year contract extension from the Minnesota Timberwolves worth $30 million. According to Sprewell, this was not enough money to support his family. Sprewell reportedly said, “I have ...
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