NBA Hall of Famers who went from millionaires to bankruptcy

Sidney Moncrief 

Moncrief, a 2019 Hall of the Famer, earned about $7 million during his NBA career (1979–1991). In 2005, he filed for Chapter 7 bankruptcy, according to Arkansas Business. 

Just one year prior to Moncrief’s appearance in bankruptcy court, the Oklahoma Department of Labor ordered Moncrief to pay more than $80,000 in back wages to five former employees at the dealership he once owned, per the Plainview Herald. He also owed money to the Oklahoma Publishing Company after missing payments for his advertisements. Facing several collection lawsuits, Moncrief asked the court for help and told the judge he had debts between $500,000 to $1 million and assets in that same range.  

These days, Moncrief seems to be steering clear of the entrepreneurial route. He’s a motivational speaker and he has authored eight books. His net worth is estimated at over $1 million.