NBA star Gilbert Arenas was ‘homeless’ after blowing huge rookie salary

An American basketball team has revealed he slept at his team’s home stadium because he’d wasted millions of dollars on needless expenses.

Gilbert Arenas wasn’t exactly frugal with his finances at the start of his NBA career.

In a new interview, the former All-Star guard told VladTV he spent his entire $AUD1.2 million rookie salary before he was even drafted 31st overall by the Golden State Warriors in 2001.

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The New York Post reports that after a lavish spending spree — that included an Escalade car with five TVs in it — Arenas said he was forced to follow a strict budget (by his standards) of $700 a month.

“That’s gas money. Girlfriend, two dogs, I didn’t have any money. I couldn’t even drive back and forth to (the Warriors’ former stadium Oracle Arena), so I had to stay at the arena sometimes. I slept in the arena,” Arenas said.

“I was basically homeless, but I just couldn’t afford the gas all the time.”

Golden State now plays at Chase Centre in San Francisco.

Arenas played for the Warriors for two seasons (2001-02 and 2002-03), before he signed a six-year, $90 million contract with the Washington Wizards.

“I don’t remember, I spent that before the draft,” Arenas said about his rookie salary.

“You think you’re going to go top 10, like s**t, I’m thinking millions. So I bought an Escalade, had five TVs in it, four (12 inch speakers) — saw Gary Payton with the suede — had the suede on the top, suede roof. I had the big chain just like everybody else (that read) ‘GJA’.”

Arenas earned more money at the Wizards than he did with Golden State. (AP Photo/Matt Slocum)

Sleeping in the stadium made him realise how hard he needed to work in the NBA.

Arenas also said he was depressed during the first half of his rookie season in Golden State.

“You’re not good enough. I’m on a two-year deal, I have no money. It wasn’t fun. I even said then, ‘I wish I could go back to college’ (at Arizona). I took a pay-cut coming here,” he said of his introduction into the NBA.

Arenas credited his sleepovers at Oracle Arena for helping set him up for an illustrious NBA career.

“That helped me because it made me stay in the gym and understand what a professional is,” said Arenas — a three-time NBA All-Star, who recorded 11,402 career points in his 11-year career.

This article originally appeared on the New York Post and was reproduced with permission

Originally published as NBA star Gilbert Arenas was ‘homeless’ after blowing huge rookie salary