Former NBA player Gilbert Arenas recently sat down with VLAD TV to talk about his career, among other things, and also talked about how he had basically spent his entire $ 845,000 rookie salary prior to the first game of the 2001 season. -02.
As a community of avid sports fans, we have (sadly) grown accustomed to hearing stories of players who went bankrupt by spending too much on frivolous luxury items. We haven’t seen many like Arenas, where the player spent his money before playing an NBA game. The Warriors picked Arenas with second pick (31st overall) in the second round of the 2001 draft. Gilbert was expecting to go in the first round and probably as a lottery pick by his own admission. Of course that didn’t happen, but he had already started spending the millions he thought he would be entitled to as a first rounder.
Fortunately, for Arenas, aka Agent Zero, he soon learned his lesson about managing his money and went on to earn pretty decent coins playing in the NBA. In 2008, Arenas signed a six-year contract with the Washington Wizards worth 111 million dollars. So, it’s safe to say that he has recovered from his slow start with the Warriors in many ways.
Gilbert also talked about getting an allowance of $ 500 a month during his rookie year at Golden State. Anyone who is familiar with California and most importantly the Bay Area knows that it is extremely difficult to live on $ 500 a month. Arenas said he couldn’t afford gas at one point, so he sometimes slept at the stadium instead of driving back and forth from home to the arena.
Listen to an NBA player tell his story of being nearly homeless while in the league. Hopefully, all current and future pro athletes will pay attention to stories like this so they can avoid the pitfalls that come with fame and fortune at such a young age. Arenas was only 19 when he was drafted by the University of Arizona. Perhaps her story will help one of the next 19-year-old draft picks not spend money prematurely.
There are other stories like Gilbert’s, but many end much worse than his. I think it’s always nice to hear these stories and have the individual who lived them tell them so that the next generation can see them and hopefully choose a better path.