At First Take: Antoine Walker Tells The Boys How He “Lost” $110 Million

ESPN’s newest 30 for 30 film “Broke” airs tonight, and former Celtics star Antoine Walker is no stranger to the subject of the documentary. After a 13-year career in which he made $110 million dollars – and developed a reputation as one of the NBA’s finest trash talkers – Walker is a living, breathing cautionary tale.

He appeared on First Take with Skip Bayless and Stephen A. Smith on Tuesday morning to discuss his story. The video’s above. The highlights are below:

“Well, everybody has their misconceptions of how myself and athletes lose their money… I was involved in a lot of real estate projects with the banks, where I was the personal guarantor on the loans… Probably seven or eight banks that we had loans with… Everybody’s situation’s different… Just bad real estate investments.”

“You create a lifestyle and you live in a certain way. You’re spending a lot of money… The big assets were guaranteed through the bank. They wanted their money, they wanted their assets back.”

“No, I don’t blame (my financial people). I blame more so myself. Going through this process, the one thing that’s very difficult to do is to do investments while you’re playing basketball… Wait until the end of your career to start an investment, and start making money.”

“It makes it very tough to manage. I’m more mad at myself than my financial adviser… If you’re not going to watch it, bad things are going to happen.”

“Obviously, I lived a very lavish lifestyle through my NBA career… Through my story, a lot of people think I lost my money gambling, that was not the case, at all… I lost a significant amount of money gambling, $700,000 or $800,000… it was not the cause of me filing bankruptcy.”

“Outside of my family members, I definitely took care of my friends… It’s hard to say, I would say 10 to 15 people I took care of on a consistent basis… helping them out with their needs and their wants… We traveled privately, we stayed in the best hotels… It kind of comes back to you, and kind of catches up with you at the end.”

“I would say (they cost me) a couple millions dollars… You’re always going to get hit with random business decisions that they want to try out… There’s a lot of different friends that you meet… You just decide how you try to help them… I come from the inner city that really didn’t have much… When I made it, I wanted to make sure that my guys got to enjoy it, too, as well.”