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GILBERT ARENASMY $111 MIL NBA CONTRACT IS UP... I Can't Afford Private School
10.3K
739
10/24/2016 1:00 AM PDT BY TMZ STAFF
EXCLUSIVE
Gilbert Arenas' infamous $111 MILLION contract with the Washington Wizards is finally about to expire ... and Gilbert says he will be so poor, he won't be able to afford private school for his kids.
Gilbert signed the 6-year guaranteed contract back in 2008 -- but according to new court filings in his family law case, obtained by TMZ Sports, Arenas will get his last installment on October 31st (the contract was paid out over 8 years).
It was good while it lasted ... and Gilbert knew it when he spoke to our photog about the contract in 2013.
The problem, Arenas says ... is now that he's no longer getting NBA checks, he'll only earn $169,895 per year in investment income ... not enough to live the BALLER lifestyle he's used to.
So, Arenas says he has to make some serious cuts -- and one of the items on the chopping block is the private school where he sends his kids ... which runs $91,600 per year.
"I anticipate that the children will need to transfer to public schools in 2017 and beyond."
For the record, Arenas reportedly made more than $160 MILLION during his NBA career ... not including tens of millions in endorsements.
GILBERT ARENASI'M ROLLIN' IN CASH... And Hiding It From My Baby Mama
1.1K
92
10/24/2016 4:08 PM PDT BY TMZ STAFF
BREAKING NEWS+
Gilbert Arenas says he's NOT REALLY struggling financially -- despite what he said in court docs -- claiming he's still extremely loaded and hiding his fortune from his baby mama.
We broke the story ... Gilbert filed court docs in his family law case saying his $111 million NBA contract pays out on Oct. 31st -- and once that day comes, he won't be able to afford to pay for his kids' expensive private school.
In the docs, Gilbert makes it very clear he'll be living on interest from previous investments -- and not rollin' like a $160 MILLION baller.
But after TMZ Sports posted the story ... Gilbert posted a video of his own -- showing off his kids messing around with thousands of dollars in cash and bragging that he's "hiding" it from his baby mama, Laura Govan.
Gilbert also shows off his kids' safety deposit boxes and says they're "gold digger proof."
He also says if Laura is insistent on sending the kids to school she better start "selling that p**sy."
#StayClassy
10.3K
739
10/24/2016 1:00 AM PDT BY TMZ STAFF
EXCLUSIVE
Gilbert signed the 6-year guaranteed contract back in 2008 -- but according to new court filings in his family law case, obtained by TMZ Sports, Arenas will get his last installment on October 31st (the contract was paid out over 8 years).
It was good while it lasted ... and Gilbert knew it when he spoke to our photog about the contract in 2013.
The problem, Arenas says ... is now that he's no longer getting NBA checks, he'll only earn $169,895 per year in investment income ... not enough to live the BALLER lifestyle he's used to.
So, Arenas says he has to make some serious cuts -- and one of the items on the chopping block is the private school where he sends his kids ... which runs $91,600 per year.
"I anticipate that the children will need to transfer to public schools in 2017 and beyond."
For the record, Arenas reportedly made more than $160 MILLION during his NBA career ... not including tens of millions in endorsements.
GILBERT ARENASI'M ROLLIN' IN CASH... And Hiding It From My Baby Mama
1.1K
92
10/24/2016 4:08 PM PDT BY TMZ STAFF
BREAKING NEWS+
Gilbert Arenas says he's NOT REALLY struggling financially -- despite what he said in court docs -- claiming he's still extremely loaded and hiding his fortune from his baby mama.
We broke the story ... Gilbert filed court docs in his family law case saying his $111 million NBA contract pays out on Oct. 31st -- and once that day comes, he won't be able to afford to pay for his kids' expensive private school.
In the docs, Gilbert makes it very clear he'll be living on interest from previous investments -- and not rollin' like a $160 MILLION baller.
But after TMZ Sports posted the story ... Gilbert posted a video of his own -- showing off his kids messing around with thousands of dollars in cash and bragging that he's "hiding" it from his baby mama, Laura Govan.
Gilbert also shows off his kids' safety deposit boxes and says they're "gold digger proof."
He also says if Laura is insistent on sending the kids to school she better start "selling that p**sy."
#StayClassy
