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Former NBA Player Darius Miles Made $66M in the NBA & is Now Broke
Can’t believe it’s been 16 years since Darius Miles was drafted right out of high school to the Los Angeles Clippers. And while those Clipper squads didn’t win much, they were extremely exciting to watch.
Miles last played in the league with the Memphis Grizzlies during the 2008-2009 season, finishing his career with over $66 million made in 9 years in the league.
Today, he is flat broke, according to Belleville News-Democrat:
“Miles is 34 now. It’s been 16 years since the 6-foot-9 forward was drafted by the L.A. Clippers right out of East St. Louis High School.
But injuries, legal problems and bad investments have left Miles asking the court to allow him to sell off his assets to pay creditors. Miles listed $460,385 in assets and $1.57 million in liabilities.
Miles listed a $282,041 debt to the Internal Revenue Service. He also said that most of his debts aren’t consumer debts, but business debts. Miles owns a single-family home in Belleville with a value of $241,000. His car is a 2011 Chevrolet Camaro, valued at $20,000.
In addition to his Belleville home, he listed 12 other properties he owns, all in East St. Louis. He has a Deutsche Bank account with $49,000 and his son’s college fund with $84,900. He also listed ownership of various collectibles with unknown value, including trophies and signed jerseys, and jewelry.
Miles listed a $20,000 child support debt in his bankruptcy. He lost more than $100,000 in 2008 in a California real estate deal. Another real estate deal — with fellow investors former NFL Rams player Marshall Faulk and rapper Nelly — was mired in lawsuits over a Laclede’s Landing property. Newspaper stories wrote about Miles rewarding himself with diamond jewelry.”
The pride and joy of East St. Louis High School puts his name on a long list of former NBA athletes that went broke shortly after their careers ended.