Making it to the NBA and having a career that is long enough to sign a second contract in the league usually means that players end up making a lot of money. While superstars sign contracts worth upwards of $200 million these days, even role players throughout their careers can amass close to 9 figures in income. This has been true since Michael Jordan changed the NBA by becoming a huge superstar and contributing to the massive explosion in popularity the league experienced.
So it's no surprise to know that throughout his stint in the NBA, even a player like Eddy Curry made nearly $80 million. He signed a contract with the Knicks that paid him $60 million over 6 years, the biggest deal he would sign, but still reached a point in his life where he was in debt and had his house foreclosed upon. He explained before how his decision to get married in high school cost him a lot of cash, but in an interview with DJ Vlad, he elaborated on how exactly he lost most of his money.
Eddy Curry: "I mean, it had been in foreclosure for a while and we were basically able to hold on to it for a while but after a while it was like, f**k that, let that sh*t go."
DJ Vlad: "Okay but, I mean you were still making millions of dollars, so what exactly happened?"
Eddy Curry: "I was making millions but man bro, at that point, I realized that my accountant wasn't doing what he was supposed to do. He had loans here and there. It's crazy because I do a lot of work with the player's association now and I do a lot of work with the young kids... Power Of Attorney bro, that was the biggest things, biggest factors in my financial ruin, is that I gave someone power of attorney.
"At one point, toward the end of my time in New York, probably my last year there, he had got a loan from this dude in Vegas. And it didn't have any, there was no laws on just the inflation, the extra, the late penalties which you can charge for your loan. He took out a loan, he used a stamp of my signature to get the loan. He defaulted on the loan, I didn't even know about it, they ended up taking me to court. It was a $500,000 dollar loan, I end up having to pay like 4 million dollars on this loan.
"And so that f**ked me up. I had to do all this crazy sh*t, I had to run the rest of my contract through another firm just to get the money to pay him, cuz the money was still gaining interest. Shit was f**ked up."
Curry's story is an excellent example for young players to only trust very few people, especially when it comes to access to financials and things of that nature. NBA players can become a target for a lot of people acting in bad faith thanks to how much wealth they generate, and Eddy was unfortunate to be caught in a situation like that. It's wholesome to see that the former NBA star is now using his experience to teach younger stars what mistakes to avoid as they try to make it in the league.