The playoffs are scorching, but outside the NBA, something has happened that has caused an earthquake in the league.
According to Bleacher Report, 22 people were convicted in November 2023 for submitting false medical claims to NBA player health and welfare plans, and 18 of the 22 NBA players (who have retired).
Among the 18 were former NBA player Glen Davis, who was also sentenced to 40 months in prison for defrauding the league's welfare program, plus three years of supervised release.
In addition, Davis was ordered to pay $80,000 in damages. The conditions for supervised release include attendance at a financial management course and compulsory drug treatment.
When a player steps into the NBA league, he almost steps into the realm of the rich. For example, the big baby Davis, with a total career income of $33.1 million. He played 8 seasons with the Celtics, Magic, and Clippers, playing in 514 regular season games in his career, averaging 8 points, 4.4 rebounds, 0.9 assists and 0.3 blocks per game.
No matter how poor a small player is, even an annual salary of tens of millions is enough for them to live a rich life.
However, not only these 18 players, but also many players who retired from the NBA have eventually led to an imbalance in their lives due to their cliff-like income, spending habits and never managing their finances, and their living standards have also fallen into the embarrassment of not being able to fill their stomachs.
For a lot of players, at the peak of their careers, they enjoy huge salaries and sponsors, which makes them very extravagant in life.
However, once decommissioned, their income drops dramatically, and expenses are often difficult to cut. This makes it difficult for them to adapt to the new rhythm of life after retiring, and they fall into the financial ,,,,,,,,, to watch live and replay of sports events for free Link3 business dilemma. Among them, not knowing how to manage money is one of the important reasons why these players go bankrupt after retiring.
Many players are not prepared and have the time and energy to learn and master financial literacy during their careers, and they are inexperienced in managing and planning their finances. As a result, it is difficult for them to manage their wealth effectively after retirement, resulting in a rapid deterioration in their financial situation.
At the same time, low education is also a common phenomenon that leads to the bankruptcy of NBA superstars after retirement.
Many players start their careers in high school or college, which leaves them with not enough time to complete their studies.
Although the players excelled on the pitch, enjoying applause and huge income, they often lacked the educational background to cope with life's challenges after retiring. This makes it difficult for them to find new career opportunities and start businesses, further exacerbating their financial woes.
According to a survey, nearly 60% of players in the NBA declare bankruptcy within five years of retiring.
Therefore, it is not surprising that many stars are in dire straits, and even in the long history of the NBA, a large number of retired stars have been struggling every year because of income problems.