Glen Rice made approximately $66 million in the NBA and that doesn’t include his endorsement deals, but Rice told a family court judge that he is nearly broke and needed to get his child support reduced.
Three-time NBA All-Star Former NBA Miami Heat superstar Glen Rice is “almost broke” despite a 15-year career in the NBA that also included a stints with the Miami Heat, the Charlotte Hornets and the Los Angeles Lakers.
At least, that’s according to Miami-Dade County court records made public earlier this month in a paternity suit filed against Rice by a Fort Lauderdale woman in 2010.
The woman, Broward County guardian ad litem staffer Robin Duncan, originally managed to squeeze $1,500 a month in child support for a little girl named Gianna fathered by the then-married prolific small forward.
Last year, however, Rice filed a heart-wrenching plea to the court system to substantially lower his monthly payments, and both the court and Duncan signed off on a new deal.
On Sept. 8, Duncan agreed to $600 a month for as long as Rice got caught up with unpaid support totaling $2,000.
Why a downward adjustment, something relatively rare in child support?
Rice hasn’t been able to find a job in years, and he is “almost broke” after living off his basketball assets since he retired in 2004 and making a slew of bad investments, according to the court papers.
“A permanent, material, substantial, unanticipated and involuntary change in circumstances [warranted] a downward modification in support,” the filing reads. “The father (Rice) is in dire financial straits … He has attempted to become gainfully employed in various capacities but has been unable to earn a semblance of meaningful income.”
My advice to athletes is stop investing. You are making millions of dollar a year, simply put some of the money in a savings account or an IRA for a raining day. There is no need to take risky investments when you are making that much money, everything should be low risk, because it isn’t like you can play in NBA again, once it is over it is over.