Gilbert Arenas Made Millions Not to Play Ball, Now Says Can’t Afford Kids' School

Gilbert Arenas in 2004
Doug Pensinger/Getty Images
Gilbert Arenas in 2004
Doug Pensinger/Getty Images

In 2014, Gilbert Arenas laughed at the notion that he should feel bad for cashing large NBA checks when he wasn't playing for a team. Fast-forward to 2016: The last check of Arenas' horrible $111 million contract with the Washington Wizards is set to be paid—on Oct. 31, to be exact—and Arenas is now claiming that he doesn't even have enough money to keep his kids in private school.


Life comes at you fast.

According to TMZ Sports, Arenas provided the courts with his 2008 contract, and it shows that the onetime NBA great was scheduled to be paid the bulk of his contract over eight years. The initial agreement had Arenas being paid out over six years, but Arenas was cut from the Orlando Magic, and under the NBA's amnesty clause, his contract was stretched out an additional two years.

While the numbers are too steep for me to figure out, I can say that the final three years of the contract had Arenas pocketing some $60 million and he wasn't even playing anymore. How all that money dried up is beyond me, but Arenas swears he is living next door to broke-ness.

You can see his contract here (pdf), and if you can make heads or tails of the payment agreement, leave it in the comments below.

Read more at TMZ Sports.