Going Broke NBA style

Ever wonder how we continue to hear stories about athletes going broke while earning / who earned $10 mil plus / year? Our old pal Eddie has provided us a five step program to show us how:

Step One: Live like Dre; and be seven-foot Santa Clause to homeys. 

[Curry's] lifestyle...included a $17,000-a-month suburban New York home, a $6,000-a-month personal chef and a dozen cars he'd bought for himself and relatives, a judge said. 


his existing bills... include $30,000 a month in household expenses at his family's White Plains, N.Y., home, nearly $17,000 a month in payments to various other relatives and more than $1,000 a month in cable and satellite TV service

Step 2: after realizing 50% of income actually goes to government, take out big loan with impressive APR to maintain integrity: you can either cut-back or you can keep it real.

He took out the $570,000 personal loan in February 2008, promising to pay it back in five months at a nearly 85 percent annual interest rate 

Step 3: don't pay back big loan with impressive APR...or any other loans.

[the $570,000] debt... swelled to $1.2 million with interest



Curry also sued his former agent and business manager after a bank moved to foreclose on Curry's $3.7 million home near Chicago.


his wages already are garnished for more than $207,000

Step 4: Pay lawyer $450/hour to argue you shouldn't have to pay back loans...because you can't afford it [note: Curry earned $10.5 mil this year and will earn $11.3 mil next year]
Curry [aka, his lawyer] argued he couldn't pay off the debt at $75,000 a month because of his existing bills ... The 7-foot center [aka, his lawyer] also suggested the vagaries of his basketball career should keep him from paying, noting his ending contract


Step 5: Impress Judge... or not.

State Supreme Court Justice Jane S. Solomon pronounced [Curry's financial] concerns "irrelevant."


FanPosts are user-created posts from the BlogABull community, and are to be treated as the opinions and views of that particular user, not that of the blogger or blog community as a whole.

Log In Sign Up

Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join Blog a Bull

You must be a member of Blog a Bull to participate.

We have our own Community Guidelines at Blog a Bull. You should read them.

Join Blog a Bull

You must be a member of Blog a Bull to participate.

We have our own Community Guidelines at Blog a Bull. You should read them.




Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.