- REUTERS/Hans Deryk
Antoine Walker, the retired basketball star who played in the NBA from 1996 to 2008, recently opened up about his infamous financial woes, which saw him lose millions of dollars in just 24 months.
The 3-time NBA All Star, who was once engaged to "Basketball Wives" star Evelyn Lozada, lost approximately $110 million over 13 seasons in the NBA- a devastating loss that he attributes to bad investments and a lavish lifestyle.
"You create a lifestyle for yourself," Walker told ESPN in a new documentary "30 For 30 Broke." "You're spending a lot of money as you're living through a 13-year NBA career."
Walker was picked sixth overall by the Boston Celtics in 1996 after his sophomore season. He went on to earn $110 million while playing as a star forward for various teams, including the Dallas Mavericks and the Miami Heat, up until his retirement from the NBA in 2008.
The 36-year-old eventually blew his millions over a 2-year period after 14 years in the NBA, and in May 2010, he was broke. The 6'9" star filed for bankruptcy in 2010, less than two years after his 2008 retirement.
"Personally, I was involved in a lot of real estate projects with the banks where I was the personal guarantor of the loans and when the recession hit back in 2007 and 2008, the banks went really hard after the money," he said.
"There's probably like seven to eight banks that we had loans with. And it kind of hit me all at once. I had to pay back the money," he went on.
Walker declared $12.7 million in debts and just $4.3 million remaining from his fortune in his bankruptcy filing.
"Obviously I lived a very lavish lifestyle through my NBA career, I always enjoyed nice things ... I had nice things. I think through my story a lot of people don't know, a lot of people think I lost my money through gambling ... that was not the case at all," he explained.
"It was a significant amount of money gambling ... you know $700,000-$800,000 but that was not the bulk of my income or money that I had," he added.