Most players who have played in the NBA went broke due to some bad investments or other things.
Ray Williams
Williams was doing well during his playing time in his career. After his retirement in 1987, things went bad for the former guard.
Shortly after retirement, Williams fell on hard times and applied for his NBA pension. He was awarded a pension of $200,0000, but didn’t last long as Williams lost the money in a real estate scam and again be down on his luck financially.
Williams would get a job as a recreation specialist in Mount Vernon, New York. Sadly, Ray Williams passed away in 2013 as a result of colon cancer. He was 58.
Sidney Moncrief
It was estimated that Moncrief earned more than 7.2 million dollars during his playing time. Moncrief also won the NBA All-Star 5 times, most notably with the Milwaukee Bucks. He won the inaugural Defensive Player Of The Year award and followed it up by winning it again the following season. He is the only guard in NBA history to win the award twice.
After retirement, Moncrief opened a car dealership in his home state of Arkansas as well as took a job with the Dallas Mavericks as an assistant. Although there are no specifics as to what happened, Moncrief filed for bankruptcy in 2005.
Rick Mahorn
Derrick Allen Mahorn is an American former professional basketball player who played power forward and center for the Washington Bullets, Detroit Pistons, Philadelphia 76ers, and the New Jersey Nets of the National Basketball Association. Unfortunately for Mahorn, he played in a time just before the salary cap went crazy.
It took Mahorn 10 years to face any financial troubles, but when he did, it hit hard. Despite being a WNBA coach with a decent salary and having received his NBA pension, Mahorn filed for bankruptcy in 2009.
This came as a result of defaulting on his mortgage, which in turn caused him to owe the IRS over $200,000.
Erick Strickland
Erick Strickland played 9 seasons in the NBA with six different franchises. He peaked in the 1999-00 season with the Dallas Mavericks when he played 68 games and averaged 12.8 PPG and 4.8 RPG. It turns out that the person he thought was his friend had pulled one over on the Strickland’s as the property they had invested in wasn’t worth even half of their expected return. Strickland and that friend had a falling out after it was learned that the person in question had earned a large cut of the deal. It is unknown Strickland’s financial status today, but this failed deal certainly didn’t help things at all.
Randy Brown
Randy Brown is an NBA journeyman most known for his days from 1995 to 2000 with the Chicago Bulls. Brown came off the bench for the majority of his career, never topping more than 9.0 PPG or 3.5 RPG.
Randy Brown fell into the statistic of the 60% of former players who go broke within 5 years perfectly. After his career ended, he decided to become a businessman and throw himself into a bunch of restaurants and real estate deals. As another player who was led astray by people he called friends, Brown found himself in need of help and desperately. The Chicago Bulls came to the rescue, bringing Brown on as their director of player development. He was eventually promoted to be their Assistant General Manager.
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