• Ideas

Why Do Pro Athletes Go Broke?

In this episode of the Morgan Stanley Ideas Podcast, retired NBA star Antoine Walker shares his personal journey from multimillionaire to bankruptcy, and building his way back.


Why Do Pro Athletes Go Broke?

Hosted by Ashley Milne-Tyte
Featuring Retired NBA All-Star Antoine Walker

For our inaugural episode, the Morgan Stanley Ideas Podcast, hosted by Ashley Milne-Tyte, is tackling wealth management. Antoine Walker, retired NBA star, shares his personal journey, going from multimillionaire to bankrupt, and building his way back. Plus, you'll hear from sports writer Aaron Mansfield and Managing Director and Head of Morgan Stanley Global Sports & Entertainment Drew Hawkins.

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According to a 2015 study by the National Bureau of Economic Research, one in six NFL players file for bankruptcy within twelve years of leaving the league—despite earning an average of $3.2 million over their career.

Morgan Stanley’s Global Sports and Entertainment Division (GSE) has been driving efforts to change eye-opening statistics like these. Since piloting its financial literacy program in February of 2015, GSE has conducted more than 60 tailored sessions for pro teams, universities and other marquee sports organizations. The program has now reached over 6,000 individuals of all levels, from first year collegiate players through veteran pro athletes, teaching athletes and entertainment professionals the powerful message of building a sound financial plan alongside a successful career.

For further information, visit Morgan Stanley’s Global Sports & Entertainment Division.