[Shimmer1]

No pity here. Solly Chahlie

[SeekAndFind]

I remember him scoring over 50 points several times early in his career and leading Philadelphia to the NBA finals. even Michael Jordan had a hard time trying to stop him.

[Dr. Ursus]

He can fall back on his Harvard education. Oh,wait.....

[brownsfan]

How can one NOT enjoy some schadenfreude over this?

A detestable thug goes down the tubes financially. Makes me smile.

[tcrlaf]

Somehow, you just know this is “George Bush’s Fault!”(tm), right?

[traditional1]

Multi-Millionaire? Warren Buffett says you want to pay MORE Taxes, to share your wealth with the parasites, Alvin?

[econjack]

...60 percent of NBA players go broke five years after their last basketball-related paycheck...

It's not just in basketball, either. Look at professional boxing. I don't get it. Do they think their career will go one forever and they don't have to plan for when the paycheck stops? Stupid...

[DemforBush]

I think more NBA players should take notes from Jamal Mashburn. Not only has that guy not lost his NBA fortune, he’s increased it dramatically. Mashburn owns about 100 restaurant franchises (split about equally between Papa John’s Pizza and Outback Steakhouse) and owns four successful car dealerships in his home state of Kentucky.

[Wurlitzer]

And taxpayers are still being robbed by communities, using tax money, to build playgrounds for these grossly overpaid alleged professionals.

I wonder how much he would have made if the owners had to build their own playgrounds with their own money and used what was left over for salaries.

I would not care one iota if he made $100 BILLION as long as I was not forced to pay taxes to build his playground.

[sphinx]

60 percent of NBA players go broke five years aonsfter their last basketball-related paycheck

I've never understood why teams don't insist on putting a reasonable chunk of change right off the top into a lockbox that would pay former players a reasonable stipend. If 60% of the players in fact do go broke, one would think both the league and the players union would insist on it. It should be part of the standard contract.

Not that I expect the NBA to ever do the right thing.

[oh8eleven]

Iverson's financial woes are rather common among former big-earning NBA players.
I know a former NBA player quite well - he played for seven years ('96-'04) and made good money, albeit, not superstar millions.
As a rookie, the NBA POUNDED into them that their new found riches would soon disappear thanks to family, friends, hangers-on, shady business deals and not least of all - their own stupidity.
He was lucky that he listened, and also that he listened to many a veteran player who steered him away from trouble.

[Lancey Howard]

This is what happens when you support a huge “posse” and their families.

[BADROTOFINGER]

It’s too bad he couldn’t have had some ‘practice’ managing money...:-)

[St_Thomas_Aquinas]

-—60 percent of NBA players go broke five years after their last basketball-related paycheck, reports The Toronto Star.-—

Wooooow...

[Lancey Howard]

Here is that “famous crossover dribble”:

http://www.youtube.com/watch?v=y3X274lz3wY

[Lancey Howard]

Here is that “famous crossover dribble”:

http://www.youtube.com/watch?v=y3X274lz3wY

[Future Snake Eater]

The NBA Players' Association reportedly reminds its rookies every year that 60 percent of NBA players go broke five years after their last basketball-related paycheck, reports The Toronto Star.

I find that to be pretty shocking. I read once that the NBA has the best "how to handle sudden wealth" curriculum in professional sports, specifically developed to counteract this problem.

I guess there's no fix for "stupid" after all.

[count-your-change]

I know just how Iverson feels...I don't have enough money to pay my jeweler $860,000 either. Bummer!

[KarlInOhio]

He completely wasted $154 million? I think I can set him up for a $196,700 per year job. The only requirement is that he can spend money like crazy and has either paid his taxes or can say "oops!" really sincerely and write a check to the IRS for some of the taxes due.

Can you say Secretary of Treasury Allen Iverson?

[AU72]

He thought about his money like he thought about practice.