Boston Celtics’ Sugar Ray gone broke???
No, I am not talking about Ray Allen. Sorry if I misled you. I am talking about the former Celtics/Knicks player Ray Williams, whose nick name was also “Sugar Ray”. It’s another case of NBA player gone broke. I am not talking about Antoine Walker broke, it’s more like broke broke. Ray Williams proved to us again that if you get into the NBA, it doesn’t mean you are set for the rest of your life.
If you google search “NBA players gone broke”, Ray Williams is not the only name that comes up in the search results. You will see some familiar names like: Antoine Walker, Kenny Anderson, Scottie Pippen & Latrell Sprewell. And there are names that most of us have never heard of: David Vaughn, Joe Pace & Rumeal Robinson. Reasons for NBA player going broke usually are: Over spending, bad investment, addictions & law suits. Ray Williams didn’t go broke because of drugs or alcohol, but simply because he couldn’t find a job. A study back in 2008 by the NBA’s Player’s Association showed that: 60% of NBA players will go broke within 5 yers of retirement. The former 3-point shootout champ Jason Kapono expressed his thoughts after the players’ association presented their materials. “Going above and beyond isn’t worth it. I don’t want to be a part of that 60% that’s in trouble five years down the road. It’s a short career and I’m blessed to be earning a great salary playing basketball. But if it ended, my contract only takes me to age 30. Life expectancy is 80-plus. So I’ve got another 50 years. Do I really need to buy another car?” You got that right, if you ain’t got game like Jordan, LeBron, KG or Kobe; or if you ain’t marry to a rich wifey like Odom, you should really ask yourself that question.
This Rumeal Robinson guy played for 6 different NBA teams in 6 years. He used to blow $20,000 at a strip club per night for a week!!! The New York Times reported that Rumeal was bringing strippers back to his house to dance and even clean his house for various dollar amounts. And that was not even the worse part. He tricked his adoptive mother into signing a deed. Then he sold it behind her back, took the $600,000 from the sale and his adoptive mother got booted out months later. Then he disappeared. He faces fraud charges related to the bank loan. Jason Caffey, who made an estimated $29 million during his eight-year NBA career, was in bankruptcy court seeking protection from his creditors, among them the seven women with whom he fathered eight children.
Le Basketball blog described the best: “Besides the fact that players fork out all of this dough for houses, cars and cable bills you still can’t forget that many of them have multiple children from multiple women. This is yet another expense that must be accounted for and child support is one of those bills that doesn’t go away for at least 18 years. Again, you can see how 5 years removed from an NBA career with 2-3 child support payments a month and you could run out of millions pretty damn fast.”
So a good education is very important for anbody that would like to maintain the lifestyle after their retirement or even just to get by. That’s why even Michael Jordan and Vince Carter went back to UNC and got their degree after they became NBA elites. Otherwise, your name will only be mentioned in this type of conversation a few years later: “hmmm… I wonder what happen to xxxxxx… na, who cares, he ain’t no Mike”
Photos of homeless Sugar Ray Williams after ther jump.