How to blow $110 million in 2 years

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How to blow $110 million in 2 years

CREATED Oct. 5, 2012

"Broke". The latest in a line of ESPN documentaries first aired on Wednesday. The documentary chronicles the perils of athletes who blew through their millions of dollars, and are now bankrupt. I'm sure it will re-air several times over the next month - just check you local listings. ESPN has done a phenomenal job with this series, and "Broke" is no exception.

One of the subjects in the documentary is former NBA star Antoine Walker. Walker was an all-star and NBA champion who earned roughly $110 million dollars over a long and successful career. So why was he playing in the NBA's developmental league last season at the age of 36?

CLICK HERE to find out how he lost $110 million over a 2-year span.

It's very difficult for me to think anyone could live beyond their means with such an income, but in the world of professional athletes, it's far too common. Sure, Walker took care of his 'boys' and dropped $55K on a watch instead of planning for the future, but it's not just athletes of Walker's ilk that have suffered from the results of bad deals.

Why was former Packers backup quarterback Mark Brunell still playing football at the 41? Because he, too, made bad investment choices. Brunell is listed as a free agent, who's last season was with the New York Jets in 2011.

CLICK HERE to see how Brunell lost $50 million in earnings.

Not a year goes by without a story breaking of an athlete who once lived the high-life comes crashing back to Earth. It's sad, but self-inflicted. 

In my opinion, at the very least, every professional athlete and college athlete with pro aspirations needs to watch "Broke". It's a complete eye-opener for what not to do with your fame and fortune.

 

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