Antoine Walker charged with failing to repay gambling debts

[Brendan]

60% is high, but a lot of guys wash out before they get a sophomore contract.

It would be easily for a 22 year old who made 500k to think its going to be like that forever. Then two years later they have no other employment and are highly leveraged. One year after they are broke.

[indeedproceed]

60% is high, but a lot of guys wash out before they get a sophomore contract.

It would be easily for a 22 year old who made 500k to think its going to be like that forever. Then two years later they have no other employment and are highly leveraged. One year after they are broke.

Thats my thinking too. Most guys don't make it past 3 years in teh league.

[JSD]

"TMZ - Antoine Walker has been charged with three felonies for allegedly obtaining gambling markers by passing $1 million in bad checks to three Las Vegas casinos: Caesars Palace, Planet Hollywood and Red Rock Resort. Walker has paid back some of the bad markers, but still owes $822,500."



Wow.

[xmuscularghandix]

"TMZ - Antoine Walker has been charged with three felonies for allegedly obtaining gambling markers by passing $1 million in bad checks to three Las Vegas casinos: Caesars Palace, Planet Hollywood and Red Rock Resort. Walker has paid back some of the bad markers, but still owes $822,500."



Wow.

he better drop weight and sign with the Celtics for a minimum contract.

[guava_wrench]

There are statistics that have an outrageous % of former NBA players going bankrupt 5 years out of the league. It is a big problem for these guys.

It's not surprising...you have to remember that most NBA players come from backgrounds where a lot of the people around them have zero concept of fiscal responsibility.  It's the same story you see on the news, the poor slob that spends his whole paycheck on cigarettes and lotto wins the powerball jackpot, and 10 years later is completely broke again.  Just because these players hit the requivalent of a lottery jackpot doesn't mean they suddenly know how to handle their money. 

It's actually kinda sad, they fall into this habit of a life of luxury (and irresponsibility), and the hangers-on latch onto them looking for handouts.  They forget that this money needs to last them from age 35 and on when they are out of the league and next thing they know there is nothing left.

I recall a story where Joel Pryzbilla was trying to talk to Darius Miles about putting money in the NBA 401k...the league would match a portion towards retirement.  Joel basically told him "it's free money," and, as you can imagine, Miles couldn't be bothered to even listen.  Guess which player is gonna have financial problems in 10 years?

That's a 100% ROI, even if 401k's max out at 15k.

[Drjman]

Don't worry about Antoine - he'll probably just wiggle his way out of it!  Oh that was a terrible joke but it made me smile.

I'd still sign him to the minimal contract possible.  I just want to see him get a ring in Boston and finish what we started in 1996!

[Gomesfan]

You think 'Toine has any money I could borrow?

[Redz]

Bring Back Toine!  He needs the money.

Bring back Toine!? Ur joking right?

Sorry, been beating the dead horse on this one for a while...But, yes, at least I'm only kidding.

[Mike-Dub]

Bring Back Toine!  He needs the money.

Bring back Toine!? Ur joking right?

Sorry, been beating the dead horse on this one for a while...But, yes, at least I'm only kidding.

Ok... just making sure lol.

[ToppersBsktball10]

There are statistics that have an outrageous % of former NBA players going bankrupt 5 years out of the league. It is a big problem for these guys.

i had not heard about this. interesting.

do you have the source?

I know this isn't much to go on, but it was one of newsweek, si.com or espn.

My gut says si.com. I will get back to you.

• Within five years of retirement, an estimated 60% of former NBA players are broke.

Yeah, a lot of players go broke. Pretty stupid how people can't make THAT much money last for very long.

[PSquared]

Did you all also know that he would have to pay 82,500 to the prosecutors JUST FOR THEIR "FILING A CRIMINAL COMPLAINT"??    What's next?   Charge him an addition 5 grand just 'cause he's too black?   



But anyway....I refuse to believe that he has no money.  That's impossible.  I think it's a more of a case like with Chuck : He thought he was above everyone else and didn't think he should pay. 

Hopefully, now that Walker's accountants and lawyer are getting involved, things will be straightened out.


I think Toine was a deadbeat in this regard, and is far from broke.   But man....Charging him with 3 FELONIES??  Why not give him a chance to pay the rest of the owed money back instead of immediately going for the jugular??   

[PSquared]

UPDATE(cause you all like Toine and stuff...  ) :

Antoine Walker suits up for court
By Herald Wire Services / NBA
Tuesday, July 21, 2009 - Added 5d 21h ago

Antoine Walker said nothing in a Las Vegas court yesterday about criminal charges that he failed to repay $822,500 in casino gambling debts.

The 6-foot-9 Walker also declined to comment outside the courtroom after appearing briefly with his lawyer, Jonathan Powell, on three felony counts of writing 10 bad checks to three Vegas casinos. Powell also declined to comment.

Walker, the former captain of the Celtics was not asked to enter a plea before a Sept. 16 evidentiary hearing date was set. Prosecutor Bernie Zadrowski told the judge the two sides might try to negotiate a settlement before that date.

Each charge carries a possible one- to four-year prison term for the 32-year-old power forward, who lives in Chicago and became a free agent after the Memphis Grizzlies bought out his contract in December.

Walker remains free on $135,000 cash bail.

http://www.bostonherald.com/sports/basketball/other_nba/view.bg?articleid=1186194



>>> Well at least they are talking about settlement which is the right move considering that Toine has paid SOME of the money back which shows that he was trying to.  I'm thinking they'll give him a deadline to pay all back that he owes with the threat of real jail-time. 

[cdif911]

60% is high, but a lot of guys wash out before they get a sophomore contract.

It would be easily for a 22 year old who made 500k to think its going to be like that forever. Then two years later they have no other employment and are highly leveraged. One year after they are broke.

Thats my thinking too. Most guys don't make it past 3 years in teh league.

even as such, its still crazy

did you know players get travel stipends? no meals on the road come out of pocket

guess what most of that money actually goes toward.....

you guessed it, plane poker!

[RAcker]

One word for 'Toine's situation: Sad.

[guava_wrench]

Did you all also know that he would have to pay 82,500 to the prosecutors JUST FOR THEIR "FILING A CRIMINAL COMPLAINT"??    What's next?   Charge him an addition 5 grand just 'cause he's too black?   



But anyway....I refuse to believe that he has no money.  That's impossible.  I think it's a more of a case like with Chuck : He thought he was above everyone else and didn't think he should pay. 

Hopefully, now that Walker's accountants and lawyer are getting involved, things will be straightened out.


I think Toine was a deadbeat in this regard, and is far from broke.   But man....Charging him with 3 FELONIES??  Why not give him a chance to pay the rest of the owed money back instead of immediately going for the jugular??   

10 bad checks to multiple casinos? That doesn't seem like "immediately going for the jugular". That sounds like due process.

I don't see how else you handle someone passing bad checks to get markers at a casino.