Can’t say that I was surprise when I heard it was Derrick Coleman.
Coleman one of the poster boys for wasted potential in the NBA, still made a good living, making almost 100 million dollars while playing decent to ok ball over a 15 year career.
He is in debt now and filing for bankruptcy for help.
According to Basketball Reference, Coleman made more than $87 million during his 15 year career with the Nets, 76ers, Hornets, and Pistons. But now he has only about $1 million in assets, including a 1997 Bentley convertible, five fur coats, and $3,000 in jewelry. Not exactly appreciating assets.
Coleman’s biggest debt comes from a $1.3 million lawsuit brought against him by Comerica Bank and a $1 million real estate loan from Thornburg Mortgage Home Loans. He also owes $50,000 to NBA Hall of Famer, and current Detroit mayor, Dave Bing.
Despite the filing, Coleman will be trying to keep both his Beverly Hills home, and the home that he bought for his mother, also located in Beverly Hills. Berke says that Coleman is “just hoping to get rid of that debt and make a fresh start.”
At least he still has the Bentley.
Hopefully Dez Bryant and a lot of young players are reading this article, because this will be their future if they don’t smarten up and smarten up quickly.