Basketball icon Charles Barkley has revealed a “crook” changed everything about the fortune he earned during his NBA career.
NBA legend Charles Barkley has claimed his first player manager cheated him out of $100 million.
The 58-year-old spoke openly about the state of his finances during a recent podcast appearance in which he has accused his agent of taking all his money.
Barkley, an 11-time NBA All-Star and two-time Olympics gold-medallist with the Dream Team, is reported to have a net worth of $50 million, having earned more than $40 million in wages during his career.
As one of the biggest stars during the golden era of the NBA featuring Michael Jordan, Barkley was one of the most marketable athletes in America and is assumed to have earned another fortune in endorsements.
Barkley now says his agent took everything before they went their separate ways.
“I probably got cheated out of 100 million dollars,” Barkley said on SiriusXM’sLets Go! podcast.
“My first agent was a crook. He stole all my money.
“After four years I was broke. I don’t want to mention his name That a**hole… stole all my money.”
Barkley is still earning big coin and is far from financially destitute.
As one of the most popular commentators in basketball, Barkley earns a reported $1.5 million per-year as an analyst on TNT’s NBA coverage.
He has previously said he learned lessons about money the hard way.
He says he received good financial advice from fellow NBA legend Grant Hill’s mum — but it came too late to save him from some mistakes.
Hill’s mum Janet taught him to stop giving handouts to his friends and family members.
“Do not start taking care of all your family and friends. You’re gonna go broke but the worst thing it’s gonna ruin every relationship,” she told him, according to Barkley on an appearance on NBA YouTube series “The Boardroom”.
“Charles, I tell you young guys, especially young black guys this – do not start taking care of your family because, number one, you become an enabler. But it ruins the dynamic of your family because no matter how much you give them it’s never enough.
“It’s never enough. And the first time, not the second or third time. The first time you tell them no, they hate you forever.”