High Profile NBA Bankruptcies

Point guard Kenny Anderson earned an estimated $60 million during his NBA career after playing for nine different teams. He was married three times throughout that period, and the his first wife, Tami Akbar, walked away with $5.8 million and $8,500 a month in child support. Anderson was also supporting six other children, two other ex-wives, and was making monthly payments on his mother’s house. He also owned eight cars and an estate in Beverly Hills, was known for handing out $3,000 and $5,000 to friends and relatives and gave himself a $10,000-a-month allowance he referred to as “hanging out money.” Anderson filed for bankruptcy in 2005 listing his monthly expenses as $41,000. The player and his accountant were reportedly planning for bankruptcy years before it became official and Anderson now describes himself as “financially sound.”

Antoine Walker, who currently plays for the Idaho Stampede in the NBA’s development league, enjoyed a 15-year career with five different NBA teams, collecting one NBA championship and reportedly earning $110 million. But he filed for bankruptcy in May 2010, listing assets of $4 million and liabilities of almost $13 million. Walker’s financial problems reportedly stem from gambling. In 2009, he was arrested and charged with writing $800,000 worth of bad checks to three Las Vegas casinos

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