Darius Miles, 35, career came to an end after he spent two years away from the court following a microfracture surgery. He came back for a short stint playing for the Memphis Grizzlies, but that was short lived.
He had a good 9-year run, starting for the LA Clippers then the Cavaliers and the Trail Blazers. In his nine years, he made bank. To a tune of more than $60 Million. That should have been enough as a retirement fund. But has now lost it all. This isn’t really something of a surprise for those who follow the careers of NBA stars. 60% of all NBA stars lose what they’ve earned in the span of 5 years after retirement. From bad investments, luxury purchases and child support to a host other things.
Miles was part of that 60%, the No. 3 draft pick of the 2000 NBA draft, filed for Chapter 7 bankruptcy in June 2016. That money is gone, and now he is going through the final stages of bankruptcy proceedings. What he had left by the time of the filing was $460,385 in assets and $1.57 million in liabilities. The bankruptcy sale means he has had to sell nearly all of his belongings.
One of those things he was forced to sell was an autographed Lebron James jersey, valued at $1,500.
Among others he had to let go, were a Larry Bird jersey, a Beretta Cx4 Storm gun and an AR15. The sale also included a toaster, waffle maker and basketball shoes autographed by Dirk Nowitzki and Lamar Odom.
He will get his discharge and a fresh financial start once the dust settles. But all his left with after the sale is about $13,000.