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“I created a very expensive lifestyle. That’s how you lose your wealth real bad at the beginning,” Walker said.

Given his humble beginnings, Walker wanted his friends and family to enjoy his riches as well. He estimates he helped about 30 people move to “better situations.” He gave cash to many of them — often without holding them accountable.

“I gave them whatever they wanted and spoiled them. You can’t do that,” Walker said. “It ended up being an open ATM throughout my career.”

He also lost large sums of money gambling, although Walker insists this wasn’t the main cause of his financial collapse and that media reports are overblown.

The real catalyst, Walker said, was the Great Recession. The economic chaos caused the implosion of Walker Ventures, his Chicago real estate firm.

“We got caught in the recession. We had a ton of undeveloped real estate. It went bad. The banks wanted their money back,” he said.

As if that wasn’t bad enough, Walker had unwisely put up his personal financial portfolio as collateral. He ended up being forced to pay back about $20 million to banks.

CNN Money: Ex-NBA star went from $108 million to bankruptcy

We all dream of hitting it big somehow. But if they’re not managed properly, windfalls can become curses.

And such is the story of Antoine Walker’s freewheeling lifestyle that took him from NBA All Star to the butt of jokes and the poster boy for squandered fortunes. It’s not the first time we’ve heard about his fall from $15,000 hands of blackjack with Michael Jordan. But at least now Antoine is doing something about it.

He’s partnering with former NFL Linebacker Bart Scott to offer advice to today’s young players about how to keep the money you make, and not become another, well, Antoine Walker.

1) Get the word “no” in your vocabulary when dealing with friends and family. “Be prepared to use that word a lot,” he said.

2) Think about the future, not just the here and now. “You can still enjoy your life to the fullest, but let’s preserve some of that wealth for your kids — and for their kids,” Walker said.

It had been reported than Walker once had 5 people authorized to make charges on his credit card. So not only was he living the good life, so were all his friends and family.

And the thing a lot of these guys don’t realize is how fast that money goes away. $108 million wasn’t really $108 million. Taxes and agent fees cut WAY into that.

For example…

Amir Johnson just signed for a guaranteed $12 million here in Boston.

Deduct 39.6% for the highest federal tax rate ($4,752,000).

Deduct 5.15% for the Massachusetts income tax ($618,000).

Deduct 4% for his agent ($480,000).

So immediately, that $12 million that Johnson signed for is actually $6,150,000. THEN you have to take into account that many states and even some cities within those states charge a so-called “jock tax”… which takes a cut of the wages earned that day. Cleveland charges 2%. So Johnson has to pay the city of Cleveland about $2,900 just for the honor of playing there.

All of that adds up over time, and brings Amir’s take-home pay to under $6 million. While we’re not crying for someone who makes millions of dollars, it does illustrate how the numbers we all report aren’t the numbers these guys get. And when someone decides to live a crazy lifestyle on top of it, the money can fly out the window.

So it’s good that Antoine can try to scare some of these guys straight. He won’t be the last guy to blow the money, but if he can help some of these guys make this money last, then some good will have come from his mistakes.

Page 2: Sully is working his ass off

“He’s actually not in Boston right now and hasn’t been most of the summer,” said Stevens. “He’s been working out in a couple different locations. But everything that I have heard, every time I’ve spoken with him, every time I have spoken to people around him, it sounds like he’s doing great.

“Hey, he wants to be in the best shape of his life, he wants to be in great condition, and he’s working towards that, and I think he’s excited for a new season to show that’s been his focus and to show off the work that he’s put in to get there.”

ESPN Boston

Another summer, another “Jared Sullinger is getting himself into great shape” story.

I really don’t think the problem with Sullinger is his offseason work. His problem is bad habits during the season. Sully has actually come into seasons looking ok. But as the season wears on, he tends to put on weight.

These guys work hard during the season, but bad eating habits can negate a lot of it. And while some guys can eat crap and be ok, others pack on pounds.

Honestly, the diets of some of these guys is mind-blowing. So many young players eat horribly because they think they can get away with it. Until they realize that their bodies need proper fuel to operate at an optimal level, they’re not going to get the most out of their careers.

When your body is the way you make money, you have to take extra care to make sure it’s getting everything it needs and it’s going to be in peak condition. It seems Sullinger is getting himself ready for the beginning of the regular season. Let’s hope he’s going to carry that through and be just as fit at the end.

Related links: MassLive: Stevens has heard Sullinger working hard this summer