Former Heat forward Antoine Walker is broke, and he'd love for you to put a ring on it.
His Heat championship ring, to be exact.
On someone. Anyone. Just buy his ring.
The 12-year NBA vet filed for Chapter 7 protection at U.S. Bankruptcy Court in Miami last week. He says he owes $12.7 million to casinos and other creditors, is facing 20 property-related lawsuits including 4 foreclosures, and has to liquidate his assets -- which include the diamond-encrusted 2006 NBA Championship bling he won alongside Shaq and Dwyane Wade.
The catch? Those assets are worth $4.3 million, which puts Walker juuuust a bit upside down. Good thing we know he looks okay in red.
Walker made $110 million in his NBA career, not counting endorsements. But he also lived both generously and recklessly, rolling with a 70-person entourage, building his mother a 10-bedroom Chicago mansion with an indoor pool, and, later, getting on the wrong side of Vegas writing more than $1 million in bad checks to casinos.
He says his family, which no longer includes Basketball Wives "star" and Coral Gables shoe shop proprietor Evelyn Lozado, spends about $78,000 a month even though he has no income. Walker last played in the NBA in 2008 for the Timberwolves, and $7,000/week stint in a Puerto Rican league last month lasted just a few weeks.
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As such, we're not exactly holding out hope for his rumored NBA comeback attempt.
Unfortunately for Walker, selling the ring won't go very far in satisfying his creditors. Estimates say it's worth about $6,000, leaving him approximately $12.69 million short.
