Dennis Rodman Joins Long List of NBA Stars that are Broke — How are These Fortunes Squandered and What is to Blame?

Dennis Rodman was experimenting with hair colors long before Lady Gaga and Katy Perry. Funny, no one ever looks up whether he was in the Illuminati.

Attorneys representing Dennis Rodman, the flamboyant former NBA star, filed documents in court today stating that he is “broke” and cannot pay child support payments.  It also lists him as being “extremely sick.”  Rodman has become substantially behind on his payments, and now it has come to a head.  He could face a sentence of 20 days in jail at a hearing next Tuesday if no agreement is arrived at.  According to the Orlando Sentinel newspaper, Rodman owes $808,935 in back child support for his 9 and 10-year old children from his third marriage.  Attorneys for his ex-wife also claim he owes the sum of $51,441 in what is termed as “spousal support.”

According to the court documents filed by Rodman’s attorney Linnea Willis, the former NBA star can barely get by himself, much less pay the $5,000 per month he owes for another child and the $4,500 to Michelle Rodman and their two children.  She even pointed out that he is apparently so broke that he had to get Willis and other lawyers to represent him pro bono because he couldn’t even afford to pay them to defend him.

Dennis Rodman was known as trouble throughout his time in the league, but trouble meant exposure, and we at Common Sense Conspiracy know all too well that controversy creates cash.  Rodman won championship rings playing with Michael Jordan during the Chicago Bulls glory years before hanging out in Los Angeles as a Laker.  Rodman was an epic rebounder, and often led the league in this category.  When Michelle filed for divorce from him back in 2004, Dennis told the court that his monthly expenses were over $30,000.

Rodman joins a long list of NBA stars that made gargantuan fortunes only to squander them somehow.  Many point to the “one-and-done” rule that allows college players to spend just one year in college on scholarship before flying off to the NBA as one of the reasons that so many NBA phenoms can’t handle their money.  One notable member of the class that Rodman now joins is Allen Iverson, a legendary player for the Detroit Pistons.  Alcohol abuse and gambling seemed to take over his life, and eventually his wife divorced him and he had no choice but to declare bankruptcy.  Antoine Walker amassed a fortune of over $100 million in his 12 years in the NBA playing for the Boston Celtics and Miami Heat, but now creditors are searching for him.  He made the famous “entourage” mistake.  It was rumored that he supported over 70 of his family and friends.  His enviable collection of super-expensive cars will eventually be sold off to pay for the money he borrowed.  The ludicrous thing is why would Allen Iverson ever have to borrow anything.

Possibly the most famous example of all is Latrell Sprewell.  Latrell had plenty of issues not relating to money, including a infamous incident when he choked his coach in 1997.  Even more incredible was the time he passed on a contract worth $21 million because he couldn’t support his family on such a measly salary.  Times have not been kind to Latrell, and he probably wouldn’t mind a $21 million contract offer these days.  His home is in danger of foreclosure and he owns a yacht that will soon be auctioned off to help satisfy some of his obligations.

What is it about NBA stars and their money?  They don’t just make nice salaries…they amass astronomical sums of money compared to the rest of us in a very short time.  And yes, they only have short careers, and the money

Who can feed their kids on a lousy $21 million? Not Latrell Sprewell.

has to last the rest of their life.  But who couldn’t retire at 30 years of age on $100 million.  Antoine Walker couldn’t.  Where does the money go?  It always get blamed on alcohol, drugs, gambling, or bad investments.  But $100 million?  You could afford some bad investments at that rate.   And alcohol?  You would long die before you consumed enough alcohol to spend $100 million.  And it’s hard to imagine what is even exciting about gambling when you have that much money.  Unless of course, you make it exciting by gambling unbelievable sums, getting the thrill by actually putting your fortune in jeopardy.

What do you think?  Could you live on $21 million?  $100 million?  And do you think that someone that says in court that they barely get by but list their monthly expenses at $30,000 is “broke?”
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