NBA Hall of Famers who went from millionaires to bankruptcy

Dan Issel 

It’s unclear how much Issel made during his NBA playing career which stretched from 1970–1985. However, he was making approximately $2.5 million in his final years as president and head coach of the Denver Nuggets (resigned in 2001). By 2009, the 1993 Hall of Famer filed for Chapter 7 bankruptcy, according to The Denver Post.    

Documents revealed that Issel claimed he had $4.5 million in debt. The attorney claimed that Issel was a victim of bad business investments. He owed money to 34 creditors — including family, friends and he had to pay the hefty cost for a horse-racing business not panning out. 

“People had confidence in my ability as a businessman,” Issel told Yahoo Sports. “That’s why they loaned me the money in the first place. But it’s not like I gambled my money away. I’m not addicted to drugs. It was bad luck and bad timing and bad decisions.” 

Issel auctioned his 1970 Kentucky class ring, a 1975 25th anniversary ABA All-Star ring as well as his 1989 NBA All-Star ring to help pay off his debts, according to Yahoo Sports. Issel’s net worth has since grown to more than $1 million. The 74-year-old is the president of NBA2Lou, a grassroots community dedicated to bringing a pro team back to Louisville, KY.