The infamous Gilbert Arenas $111 million NBA contract is nearing towards its end this month. And now, he has decided that he’s making some financial cuts. The first choice seems to be his kids education.
According to TMZ, NBA’s worst contract to date, with Arenas (for $111 million in six years) ends October 31st. He had signed the deal back in 2008 before his career got derailed by a few injuries and violent antics similar to his possible locker-room shootout with NBA-player-turned-felon Javaris Crittenton. The deal was later restructured to pay out for the following eight years.
With the contract now coming to a close, Arenas says that he has to start making some financial cuts. TMZ reports that one of his first financial cuts will be taking his kids out of private school. It doesn’t strike as a surprise. Especially considering they are the same ones he was talking about when he yelled “f*ck my kids” when arguing with their mother Laura Govan on the phone.
TMZ reports that after the NBA contract ends, Arenas will be getting $169,895 per year in investment income. The school that his kids attend reportedly costs $91,600 per year.
Arenas sounds like he has been preparing for this day long before, though. Back in 2013 he recorded himself, acknowledging that the contract is in fact going to end one day. You can check that out in the video below.
Back in 2015, Gilbert Arenas also filed a lawsuit against his ex-fiancee, Laura Govan. He claimed she had leaked an email exchange between the two to multiple media outlets, in which she wrote “When I left you, it was because I couldn’t take the STDs.”
Arenas reportedly requested to be awarded more than $1 million at the start of the suit.
Arenas reportedly did not get the million dollars he wanted at the beginning of the suit, however a judge ordered Govan to pay Arenas $110,100. It was a default judgement and the payment was ordered as a result of Gilbert Arenas’ “emotional distress.”