Darius Miles BROKE

[Knicksfever2010]

WTF is he doing? Amazing how dumb these players are.

http://www.nydailynews.com/sports/basketball/darius-miles-earned-62-million-nba-broke-article-1.2798350

[bigkingsfan]

http://blog.oregonlive.com/blazers/2007/08/mcmillan_darius_car.jpg

When your ride is this, you're bound to go broke.

[qrich]

Shocked it took this long

[FKAri]

These ex players must be so jealous of the contracts they're handing out now.

[Real Men Wear Green]

These ex players must be so jealous of the contracts they're handing out now.
Eh, it's not like he played in the '50s. Miles made 10s of millions. Unfortunately bad money management can waste any sum.

[ErhnamDjinn]

Eh, it's not like he played in the '50s. Miles made 10s of millions. Unfortunately bad money management can waste any sum.
yup look at Toine dude made over 100million yet squandered it away, doesnt matter how much they made, if they didn't know how to invest it.

[Smoke117]

yup look at Toine dude made over 100million yet squandered it away, doesnt matter how much they made, if they didn't know how to invest it.

You don't even need to invest it...you just need to not spend it all on stupid shit.

[Mgamer20o0]

what do you expect. they hire their friends to manage typically who have no clue or they hire people looking to suck them dry. they should almost force these over grown kids to put away 10-20% of their salary so they still have something.

its not uncommon for athletes or even singers once their career is over to go broke since they keep spending like they are still getting millions.

[FKAri]

You don't even need to invest it...you just need to not spend it all on stupid shit.
When one spends like he's going to be making an NBA salary for the rest of his life, he's gonna go broke. These guys aren't working a 9-5. They could get injured tomorrow and lose their career (thank god for guaranteed contracts). They'll be lucky to be making money into their 30's from ball.

The smart ones are the ones who are mindful of a life after basketball. Whether it is through investing, saving, or just understanding that their earnings are temporary. This all being said its not easy especially when it comes to who to trust in regards to your finances.

[KiiiiNG]

See avatar

[Lebron23]

Should have been an actor instead of an NBA Player. I remember his movie with Captain America, and Black Widow.

[imdaman99]

This is a problem. These guys growing up broke and being handed big fat checks... is a recipe for disaster.

Teams need to educate their players on how to make their money last. I'm sure it ain't an expensive few lectures.

[scuzzy]

See avatar

[Kool Boy]

dude was pretty good at dunking in NBA Live back in the day. I used him all the time.

[ClipperRevival]

I have absolutely ZERO sympathy for people like this. Just boggles my mind how you can be this freaken stupid. I mean come on, don't you have at least experienced friend/relative that could've talked some sense into you before this? I mean what was he thinking every time he looked at his bank account and it kept shrinking? There was no, "oh sh't" moment?

[Dray n Klay]

See avatar


LMAO!!


:roll: :roll:


#JusticeforJamesR.Jordan

[Lebron23]

dude was pretty good at dunking in NBA Live back in the day. I used him all the time.


Me too. I thought he was going to end up being the next Garnett.

[ClipperRevival]

These ex players must be so jealous of the contracts they're handing out now.

Dude made 62 million. Take half that for taxes and that's still 31 mil in the bank.

[Lebron23]

https://s-media-cache-ak0.pinimg.com/736x/ed/d0/2f/edd02f340f5c9c097f25e0e015eaedd6.jpg

https://images-na.ssl-images-amazon.com/images/I/51qDhNf7okL.jpg

[KiiiiNG]

See avatar
https://media.giphy.com/media/YF6yWJUu4St9e/giphy.gif









rip james

[artificial]

Teams need to educate their players on how to make their money last. I'm sure it ain't an expensive few lectures.
Actually the league has this mandatory course for rookies (I believe all 1st rounders). Not sure how long that has been going though.

I remember watching on NBA tv or ESPN at least 4-5 years ago that camp where rookies have to go for a few days around the draft and get lessons on some basics on their new lives as NBA players, such as basic financial management, risks (health issues, golddiggers), PR, etc.

On the other hand, I can also remember that Michael Beasley and some others were caught smoking pot at one of these camps. I guess there are some people that just shouldn't be handed money.

[wang4three]

Well at least wasn't within 5 years of when he last played. He's outside that 60% statistic.

[Haymaker]

We should stream his s...wait...

[CelticBaller]

stupid idiot

[coin24]

Remember when Memphis fu*ked Portland over and signed him:lol

Still had plenty of game was surprised he didn't get signed again:confusedshrug:

[SsKSpurs21]

Should have been an actor instead of an NBA Player. I remember his movie with Captain America, and Black Widow.

"You invite those freak honeys from Mt. Julio?" - Van Wilder
http://i.imgur.com/y3ykI.png

[Jasper]

Shocked it took this long
college educated or not , they have most likely no money sense.
Which equals common sense.

[Annyong!]

Drop money on a car every few years, drop money on a nice house (heck, can get a new one of those every 10 years), and still be able to live well beyond most everybody else. It is just dumb to be able to lose this much money this fast. There is no other way to explain losing this other than stupidity, and now he'll probably struggle the rest of his life financially because he likely has developed few skills that get him good jobs for the next 40-50 years of his life. All he had to do was budget about $500,000 a year that he plans on living that don't get touched until that year, and that would leave him with $32M to have fun with.

[sixerfan82]

An athletically gifted young man with no college education has gone broke once his athleticism has gone away?

call the papers, its such an original story.

[RoseCity07]

I saw Darius Miles at 7-11 in a brand new Bentley after a Blazer game. He had some young girl with him. I'm actually glad he went broke. He was a moron.

[I<3NBA]

NBPA needs to do more to stop players from going broke. establish a foundation or something. they can take a cut from an NBA player's salary annually and put it into a fund that the player can't get into. and when the player retires they can get money from that fund but can't withdraw all of it. the fund will pay out monthly.

[aj1987]

Me too. I thought he was going to end up being the next Garnett.
:biggums: :biggums: :biggums: :biggums:

[Dragonyeuw]

Was it Shaq who basically invested his rookie contract, and basically lived off endorsements, or vice versa? Either way, dude knew what he was doing and he's basically set for life.

[Annyong!]

Me too. I thought he was going to end up being the next Garnett.
He was more of a Lamar Odom type player.

[Knicksfever2010]

maybe the NBA in conjuction w/ the players association can create some kind of trust so this doesnt happen, maybe every year a player pays into his own separate account (10%)