Former Celtic Eric Williams Broke and Homeless

[D-FENS]

Guy made $38 million before tax, and he's broke.
http://www.tmz.com/2014/04/21/ex-nba-player-eric-williams-im-homeless/

http://www.basketball-reference.com/players/w/willier01.html

Total idiot, don't even feel sorry for him.

[RightToCensor]

:roll:

[Cactus-Sack]

At least one of the new InsideHoops forum members is a former NBA player (one that I know in real life)

No idea if he'll reveal who he is. Probably not



...

[Akrazotile]

Its not all bad though.

The income he contributed by virtue of being in the highest tax bracket helped a LOT of people defraud social security, paid for a lot of dead end pork barrel projects, stuffed the pockets of a lot of dirty politicians, and helped innumerable civilians in foreign lands meet an untimely demise the Uncle Sam way.

THATS what it means to be an American.

I think its time for another tax hike, my brothers! Can I get an amen?!?


Long live Obama!!!!

[Akrazotile]

...


:roll:


NICELY done.

[Akrazotile]

Would he even have money to pay Internet bills? :D


If he only posts during daytime hours we'll know he's at the public library.

[Nick Young]

Celtics gonna Celtic

[Derka]

I remember when we drafted this dink. I didn't like him wearing PC colors and I didn't like him wearing the Green either (in fairness, he played half of his career in other cities).

[Akrazotile]

He doesn't look that homeless yet.

It sounds like he intentionally declared himself "broke and homeless" so he doesn't have to pay child supports.



Someone castrate this maggot.


Oh, wait, this board is full of doormat liberals. Someone give him an award.

[macmac]

I still Can't believe Babcock traded Vince Carter for the actual homeless man version of Vince carter

[JohnnySic]

He was a good role player. He and Antoine Walker made a good forward combo for a bit.

[D-FENS]

He was a good role player. He and Antoine Walker made a good forward combo for a bit.

:wtf:

Dem der shotjackers!

[JohnnySic]

:wtf:

Dem der shotjackers!
When 'Toine was actually good. Not after he turned into a cartoon character.

[D-FENS]

When 'Toine was actually good. Not after he turned into a cartoon character.

Ah, you mean all seasons after his rookie year. I loved that kid as a rookie. I thought he'd be the next great 4.... I was way off.

[-p.tiddy-]

I would think that at minimum he could find work as a HS coach.

[Rameek]

He really didnt make that much money over a career he wasnt a star or prominent player. It isnt that hard to go broke a few bad business ventures and its over.

If it was Gilbert Arenas then you have something to talk about (this guy is set for his life.)

[Rake2204]

He really didnt make that much money over a career he wasnt a star or prominent player. It isnt that hard to go broke a few bad business ventures and its over.

If it was Gilbert Arenas then you have something to talk about (this guy is set for his life.)I feel what you're saying when we start talking about bad business ventures and whatnot, but it is wild for me to consider $38 million (before taxes) to be not much money.

I am conflicted between whether I should feel sad for Mr. Williams or scoff at his inability to manage such a giant pile of cash. I would be curious to see exactly how it all ended up out the window.

Also, what might $38 million look like after taxes?

[Random_Guy]

He really didnt make that much money over a career he wasnt a star or prominent player. It isnt that hard to go broke a few bad business ventures and its over.

If it was Gilbert Arenas then you have something to talk about (this guy is set for his life.)
comon 38 mil?:facepalm

[-p.tiddy-]

You only need $2m right now to live comfortablely for the rest of your life...making just 6% on $2m would give you a salary of $120k a year, and that is without even touching the actual $2m

6% is a very low estimate too...8%-10% is very possible

[oarabbus]

He really didnt make that much money over a career he wasnt a star or prominent player. It isnt that hard to go broke a few bad business ventures and its over.

If it was Gilbert Arenas then you have something to talk about (this guy is set for his life.)

:biggums: :biggums: :biggums: :biggums:

He's a fcuking idiot, plain and simple. No sympathy for him squandering his cash.

[Random_Guy]

You only need $2m right now to live comfortablely for the rest of your life...making just 6% on $2m would give you a salary of $120k a year, and that is without even touching the actual $2m

6% is a very low estimate too...8%-10% is very possible
this, dont touch the 38m and even its at a 1% interest (most banks interest alone is more than that), that 380k a year:facepalm

[-p.tiddy-]

this, dont touch the 38m and even its at a 1% interest (most banks interest alone is more than that), that 380k a year:facepalm
The problem with athletes is that the are young and uneducated...and they are under the false illusion that they will be making big $ forever, when in reality it is only a small segment of their lives.

the average NBA player needs to be putting away every cent he makes...only the superstars of the league can afford to spend like idiots, and even some of those go broke...Iverson lost over $100m :facepalm

[Rake2204]

The problem with athletes is that the are young and uneducated...and they are under the false illusion that they will be making big $ forever, when in reality it is only a small segment of their lives.

the average NBA player needs to be putting away every cent he makes...only the superstars of the league can afford to spend like idiots, and even some of those go broke...Iverson lost over $100m :facepalmI admit it's tough to excuse such squandering, but it is kind of crazy to really sit down and think about how, for a typical NBA basketball player, their life calling and best earning job will be done and gone by the time they're 30 years old.

For the players without a degree and with too little zest for broadcasting, I have to wonder what they go through when their career comes to a close just as many others their age are beginning theirs.

[D-FENS]

After taxes and agent fees (why would this guy even need an agent?), this guy would have made about 19.5 million.

His wife left him, so let's just say that left him with $10 million.
He obviously never saved or (smartly) invested a cent.

Look at other guys who were role players and bought food franchises and other solid investments. Eric Williams done fugged up.

[D-FENS]

He really didnt make that much money over a career he wasnt a star or prominent player. It isnt that hard to go broke a few bad business ventures and its over.

If it was Gilbert Arenas then you have something to talk about (this guy is set for his life.)

Bro, your post reeks of failure.

[Real Men Wear Green]

Too bad, hope his life improves. (I don't particularly feel the need to judge him, sorry.)

[TheReal Kendall]

I think he just rich people broke, not poor/average man broke.

[becken]

12 years in the league and broke, that's ****ed up

[Relinquish]

:biggums: :biggums: :biggums: :facepalm

[Godzuki]

He doesn't look that homeless yet.

It sounds like he intentionally declared himself "broke and homeless" so he doesn't have to pay child supports.


yeah they do that, seems like its becoming more common.

A Ravens player did that too when he had child support payments. I think AI has a lot of cash somewhere and is declaring bankruptcy to get out of child support or whatever debts he might have. I don't think he's really 100% broke. Same with TO, he has child support he has to pay i think and you know he still has money on the side.

Child support payments can be ridiculous, so i sort of get it. The messed up part is their ex wives or baby mama's live like privilged rich women if you watch any of those shows. Its messed up how a lot of that is used for the girl and kids living large...talking about with athlete wives.

[Akrazotile]

yeah they do that, seems like its becoming more common.

A Ravens player did that too when he had child support payments. I think AI has a lot of cash somewhere and is declaring bankruptcy to get out of child support or whatever debts he might have. I don't think he's really 100% broke. Same with TO, he has child support he has to pay i think and you know he still has money on the side.

Child support payments can be ridiculous, so i sort of get it. The messed up part is their ex wives or baby mama's live like privilged rich women if you watch any of those shows. Its messed up how a lot of that is used for the girl and kids living large...talking about with athlete wives.


LOL i saw TO getting out of some crappy red hatchback on sunset blvd a couple years ago. He was by himself and it was like a tuesday afternoon so Im not exactly sure what he was doin, I only saw him as I was driving by. I shouted out the window "Lets go TO!" and he half-heartedly raised his arm up but didnt look over, hah. Dude actually looked pretty dejected.


He honestly seems like a nice enough guy, but he makes no effort to provide for his seeds so I have no choice but to label him a bum.


Shit was just such a trip tho. The way I yelled out "lets go TO!" like I was barking it from the bleachers as he was lining up at the line of scrimmage. But really he was broke and getting out of an ugly car probably to meet with his bankruptcy lawyer, and I was really just doing it in mock amusement. But he couldnt seem to tell the difference and actually gave a haphazard acknowledgement.

Ah, memories of those days are golden..

[iBandwagon]

How do you even spend that much money?

[Goon Time]

LOL i saw TO getting out of some crappy red hatchback on sunset blvd a couple years ago. He was by himself and it was like a tuesday afternoon so Im not exactly sure what he was doin, I only saw him as I was driving by. I shouted out the window "Lets go TO!" and he half-heartedly raised his arm up but didnt look over, hah. Dude actually looked pretty dejected.


He honestly seems like a nice enough guy, but he makes no effort to provide for his seeds so I have no choice but to label him a bum.


Shit was just such a trip tho. The way I yelled out "lets go TO!" like I was barking it from the bleachers as he was lining up at the line of scrimmage. But really he was broke and getting out of an ugly car probably to meet with his bankruptcy lawyer, and I was really just doing it in mock amusement. But he couldnt seem to tell the difference and actually gave a haphazard acknowledgement.

Ah, memories of those days are golden..



Cool story bro. Almost as cool as when you filmed Jennifer Lawrence from behind like the creepy f@ggot you are. Look at me I'm at the same bar as this actress, I'm going to covertly film her having fun with her friends because I'm a f@ggot loser who she wouldn't think about talking to. Tell us more stories of your fearless and hysterical interactions with celebrities! You do understand that if if weren't for your dad paying for your sad life you'd be broke and homeless too right? You firing shots at TO's car while you still drive the car your mom gave you? LOL.

[Akrazotile]

Cool story bro. Almost as cool as when you filmed Jennifer Lawrence from behind like the creepy f@ggot you are. Look at me I'm at the same bar as this actress, I'm going to covertly film her having fun with her friends because I'm a f@ggot loser who she wouldn't think about talking to. Tell us more stories of your fearless and hysterical interactions with celebrities! You do understand that if if weren't for your dad paying for your sad life you'd be broke and homeless too right? You firing shots at TO's car while you still drive the car your mom gave you? LOL.


:roll:


U r literally mad.

[Bandito]

:roll:


U r literally mad.I was about to laugh at the other dude until I notice ark post 20 times pwr day. Do you even have a job?

[Akrazotile]

I was about to laugh at the other dude until I notice ark post 20 times pwr day. Do you even have a job?


LOL, Hell no bro. We got Democrats in office.


What I wanna get a job for? They already payin me to do this:



:djparty :hammertime:

[D-FENS]

LOL, Hell no bro. We got Democrats in office.


What I wanna get a job for? They already payin me to do this:



:djparty :hammertime:

Bum who can't get a job

[Godzuki]

LOL i saw TO getting out of some crappy red hatchback on sunset blvd a couple years ago. He was by himself and it was like a tuesday afternoon so Im not exactly sure what he was doin, I only saw him as I was driving by. I shouted out the window "Lets go TO!" and he half-heartedly raised his arm up but didnt look over, hah. Dude actually looked pretty dejected.


He honestly seems like a nice enough guy, but he makes no effort to provide for his seeds so I have no choice but to label him a bum.


Shit was just such a trip tho. The way I yelled out "lets go TO!" like I was barking it from the bleachers as he was lining up at the line of scrimmage. But really he was broke and getting out of an ugly car probably to meet with his bankruptcy lawyer, and I was really just doing it in mock amusement. But he couldnt seem to tell the difference and actually gave a haphazard acknowledgement.

Ah, memories of those days are golden..


another reason i want to live in LA....

only celeb i ever seen was Mugsy Bogues playing tennis a long ass time ago.

[brantonli]

this, dont touch the 38m and even its at a 1% interest (most banks interest alone is more than that), that 380k a year:facepalm

Why do people assume NBA players are getting their whole earnings in one lump sum or something? Also, the moment you become rich/NBA player, all your long distance relatives, people you've met once 5 years ago at a club, come crawling out of the woodwork, and it's incredibly hard to tell who to trust and who to say no to. This guy made max $5.5 million per year in his career, for a total of $39.8 million. Take at least half away for taxes, (generouslly: $20 million), squander some on being cheated/terrible investments ($15 million), 'take care of your family' ($13-$14 million), divorce ($6 million), buy yourself a stupidly large house + mortgage + child support, bye bye all that money.

Did he have enough financial sense? Nope, not in the slightest. But would a lot of people have fallen into the same traps? Most likely.

[GimmeThat]

I miss Rasheed Wallace

cus BALL DON'T LIE!!!!

[JohnnySic]

Blowing $38 million is lightweight stuff compared to some what of his collegues have accomplished.