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.
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.