People often wonder how can you lose $60 million?
It is all about how much you are spending, if your check $1000 and you spending $900 in one day that isn’t good business. If your check is $1 million and you spending $900k immediately, same issue.
Once the money stops rolling in, but your expenses stay the same, you end up in a situation like Darius Miles.
TMZ Sports has obtained court docs filed in Illinois where 35-year-old Miles — who made more than $60 MILLION in the NBA — filed for Chapter 7.
In the docs, the trustee overseeing Miles’ case says he intends to auction off a bunch of Darius’ valuables to pay back his debts — valuables that include the following:
— Autographed LeBron James jersey
— Autographed Mark McGwire bat
— PlayStation and Xbox consoles
— Large screen TVs
— Firearms
— approximately 1,000 CDs and DVDs
The LeBron jersey is expected to fetch around $2k.