NBA Hall of Famers who went from millionaires to bankruptcy

Christian Laettner  

Laettner is not a part of the Naismith Hall of Fame for his individual achievements, but he is enshrined in the Hall of Fame as a member of the 1992 Olympic “Dream Team.” During Laettner’s NBA career (1992–2005), he earned over $61 million in salary. 

Laettner never officially filed for bankruptcy, but he is worth noting because creditors tried to force him to file for Chapter 7 bankruptcy in 2016, according to The Wall Street Journal. A handful of his investors who helped him finance a real estate project – including the NFL’s Jonathan Stewart and Ernie Sims – started involuntary bankruptcy proceedings because Laettner needed to pay up $14 million, according to NBC Sports. But, he was able to reach a repayment plan to avoid bankruptcy. 

Interestingly enough, Laettner faced financial issues for years and was sued several times by investors. Another deal that went wrong included an attempt to buy the Memphis Grizzlies, according to the New York Daily News. The sale never went through, and investors such as the NBA’s Scottie Pippen felt scammed. 

“Hey, [Christian Laettner], are you ever gonna pay us back homie?” Larsa Pippen, Mr. Pippen’s wife tweeted at Laettner. “… Homie how do u sleep at night.”