Former Kentucky and NBA star Jamal Mashburn has built himself a restaurant franchise empire.
(Thankfully, they didn’t choose the sportswear business)
In a recent interview with Aron Phillips of DimeMag.com, Mashburn said he owned a jaw-dropping number of chain restaurants:
I’ve always been in business and own franchises of Papa John’s, Dunkin’ Donuts and Outback Steakhouse, as well as car dealerships. I own over 34 Outbacks, 37 Papa John’s and dealerships in Kentucky.
There’s no follow from Phillips on Mashburn’s restaurant investments, so we don’t know the nature of Mashburn’s stake in the individual businesses. Though one recent online solicitation for Outback franchises required a $75,000 up front fee and $6.5 million line of credit for ownership of four restaurants.
The LEXINGTON (KY) HERALD-LEADER confirmed Mashburn’s restaurant business interests in March, 2008, including the identity of his very high profile partner. Read more…
Shira Springer of the BOSTON GLOBE has the stunning story of Antoine Walker, who has apparently already blown $110M in career earnings, owing millions in unpaid pills and casino markers while possibly facing up to a decade or more of prison time.
(Summa Cum Laude in Tyson & Barkley School of Finance)
Springer’s piece opens with Walker getting cuffed in a Las Vegas casino over $1M in unpaid markers. We then find out that, “Walker has been pursued by multiple financial institutions for unpaid debts totaling more than $4 million. Court documents filed in Illinois and Florida reveal Walker was named a defendant in three recent debt-related civil cases, in addition to the ongoing check-kiting case. His former agent is also after him, citing a heap of unpaid fees [$450,000!].” Read more…
Have you ever wondered how so many athletes go broke after retirement so often? After all, Latrell Sprewell and Antoine Walker were both worth over $100 million, and yet within five years of retirement, each was essentially bankrupt. How, you might wonder?
(Hey, finally some expert advice Lenny Dykstra would be qualified to give!)
Fortunately, the BUSINESS INSIDER published a handy 11-point list on how to accomplish exactly that. The list is full of the usual suspects: bad investments, families magically growing exponentially upon the first signed contract, drugs. You know, exactly how you’d expect people lose money. But rather than look at the situation as what not to do - after all, how do you “not” have greedy relatives if you’re a millionaire? - why not approach the situation as a series of suggestions on what to actually do? A few tips below.
Antoine Walker’s desperate, mercurial run from justice ended late last night at a Lake Tahoe casino, where he was placed in handcuffs by Nevada Sheriff’s deputies and hauled to the hoosegow. And really, who among us California residents cannot relate? Sadly, whatever happens in Lake Tahoe never seems to stay in Lake Tahoe. Mr. Walker, you may recall, had an outstanding warrant out for a little matter of over $800,000 owed to three Las Vegas casinos for bad checks. So when he showed up in Tahoe this week for the American Century Celebrity Golf Championship, they pretty much had a jail cell cleaned and reserved in his name.
Walker showed up at Harrah’s Tahoe last night to play a little of the poker and the blackjack, and a “Harrah’s employee” spotted him and made his presence known to a couple of deputies who were there making the rounds. Even though Walker didn’t owe the money to Harrah’s, if there’s one thing I’ve learned from living in Tahoe for the past 10 years, it’s that Nevada casinos stick together. Anyway, Walker dropped a little more money than he had probably anticipated.
• Erin Andrews seems to look a bit emaciated at the MLB All-Star Game:
Somebody get that gal a huge plate of St. Louis BBQ ribs, pronto!
• Pics of the bloody strap & knife that Amanda Rodrigues allegedly used to kill her ex-boxer husband Arturo Gatti.
• If the United Football League will be remembered for anything, it could be for the wireless QB wristband known as the ID Coach.
• Delaware to allow betting on NFL games. Wilmington, here we come!
• Albert Pujols says he’s so not doing steroids that he dares you to help yourself to his bathwater.
Tags: Albert Pujols
, Amanda Rodriguez
, Antoine Walker
, Arturo Gatti
, Dana White
, Ea Sports
, Erin Andrews
, ID Coach
, Myles Brand
, Sonia Sotomayor
, St. Paul Saints
, United Football League
When gambling at Las Vegas casinos, I prefer the Homer Simpson method: HOMER (on phone): “Hello, Vegas? Give me a hundred dollars on red. (Pause). D’OH! I’ll write you a check.” Former NBA star and man-about-town Antoine Walker has a slightly different approach — he shows up at the casino in person, and also pays for markers with checks - but the comical rubber kind.
Casinos: NOT AMUSED.
We’re past the days when Robert DeNiro hauled you into the basement of the Sands and had security break your shuffling hand with a mallet. But the Clark County District Attorney’s office can be nearly as brutal, and has charged Walker — who won an NBA championship with the Miami Heat in 2006 — with three felony counts for passing $1 million in bad checks at Caesars Palace, Planet Hollywood and Red Rock Resort.
There are plenty of perks to being a professional athlete: local celebrity, gobs of dough, the ladies, and the opportunity to wear snazzy work clothes. But there’s also a downside to fame. In addition to long lost relatives invariably appearing out of nowhere asking for a loan, there’s also the very real possibility of becoming a target of enterprising criminals.
Dunta Robinson, Antoine Walker and Rashard Mendenhall are three such examples, and now, Panthers first-round pick Jeff Otah’s Cadillac Escalade joins the fun.