After the NBA, a losing Spree

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Latrell Sprewell possibly lost his home in Wisconsin because of the nutritional needs of his family.

If you recall, Sprewell talked his way out of a three-year, $21 million contract extension with the Timberwolves because of this concern.

At the time, going into the 2004-05 season, he said: "Why would I want to help them win a title? They're not doing anything for me. I've got a lot at risk here. I've got my family to feed."

So Sprewell persevered on $14.6 million in his final season in the NBA, all the while believing that someone would be willing to throw stupid money at a 35-year-old guard with a 42.5 career shooting percentage.

It did not happen, sadly enough, and so ended a 13-season career notable mostly because of his choking of coach P.J. Carlesimo in 1997 and frustration at the grocery store.

The latter has been exacerbated in recent months, what with the rising price of eggs and milk shocking the most savvy consumer.

The escalating cost of food no doubt was a contributing factor in Sprewell allowing a mortgage company to foreclose on his home in the Milwaukee suburbs last week. This dire development comes after a federal marshal seized his 70-foot yacht, "Milwaukee's Best," last summer. It was sold at auction in January.

Sprewell may have been a four-time All-Star in the NBA, but as a financial planner, he rates a big fat goose egg after earning $96.6 million in his career. The average person could have earned a small fraction of Sprewell's salary during that period and be set for life today.

Alas, all too many NBA players do not live and think as we do. They accumulate automobiles, homes, hangers-on, jewelry and children born to different women.

During the NBA lockout in 1998, Kenny Anderson, then playing with the Celtics, famously let it be known to the New York Times that he was having to contemplate the draconian measure of selling off his Mercedes to get through the austere economic times.