How many times do we see this? A pro athlete or entertainer making godly amounts of money only to lose it all due to poor financial management. I’m no expert on accounting , but I’m pretty sure there’s one universal rule of thumb when it comes to making money, NEVER SPEND MORE THAN YOU MAKE! If you make $30 million you cant spend $30 million and expect everything’s going to be alright. Former NBA baller Latrell Sprewell had to learn this lesson the hard way

Sprewell, 39, purchased the 3.3-acre property in Purchase in January 2000 for $2.3 million. The ex-NBA player took out a 30-year Washington Mutual Bank mortgage for $1,612,000 in 2004. He began missing payments in April 2008, the Journal News reported, citing court records. The home is due to be auctioned off Jan. 7 at the Westchester County Courthouse, according to Propertyshark.com.

Sprewell, who played in the NBA for 13 years, was suspended for choking his coach while he was with the Golden State Warriors during the 1997-98 season.

He lost his 70-foot yacht, Milwaukee’s Best, last year after defaulting on payments. U.S. Marshals auctioned off the $1.5 million Italian-built vessel for $856,000.

Spree played in the league for 13 years, so you know he amassed a small fortune. One question. What in the hell did he do with all that money?! Come on guys, you athletes and entertainers are really starting to kill me with the way you guys just throw away money like that. Heck if your going to just waste money you might as well waste it on me. Any athlete that feels the need to just throw there money away just email me and I’ll send you the details of my bank account. Im so serious though.

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