Before Getting Reduced to $500K Net Worth, Dennis Rodman Admits Spending $100,000 on Mystery Shoes

Dennis Rodman spending a fortune on random stuff is nothing new. He once splurged $250,000 on his ex-wife, Carmen Electra’s shopping spree. So it wouldn’t be surprising if it were true that Rodman spent $100,000 on shoes. Looking through a sea of new, old, fashionable, and casual sneakers at the New York Got Sole event, Rodman recalled spending $100,000 on one pair of shoes back in the day.

“I spent $100,000 on one pair,” Rodman told the host at the event. The first question that comes to mind is if the shoes were gold-plated. Unfortunately, the 5x NBA champion was reluctant to share details about the sneakers. Surprisingly, he still has those shoes with him. While the amount isn’t surprising, the fans would be intrigued to know what could be the reason for buying such an expensive pair of shoes. As the host mentioned, there couldn’t be any reason for Rodman to buy one, unless those shoes had something precious embellished on them.

In the past, Rodman has had deals with numerous shoe brands. Initially, the Pistons legend kept switching between Reebok and Nike before landing a deal with Converse. During his Hall of Fame induction in 2011, he wore a Nike Shoe. The veteran amassed millions from these deals. Despite earning $27 million from his NBA career alone, the Worm’s current net worth is only $500K and it’s because of poor financial management. The Champ lived a lavish lifestyle but was once scammed by a financial advisor.

Dennis Rodman was robbed of millions by Peggy Ann Fulford 

Rodman met Peggy Ann Fulford in the 2000s and hired her as his financial advisor. The Champ trusted her as family and even thanked her during his 2011 Hall of Fame speech for managing his finances. What he didn’t know was that she had presented fake Harvard degrees to claim to be a financial advisor. As per SI, Fulford was accused of stealing her clients’ money. Rodman finally ended ties with her in 2015 and later she was arrested. Like the Chicago Bulls legend, many other athletes who had Fulford as their financial advisor lost their hard-earned money.

Apart from that, the other major issue with Rodman was his extravagant spending. Unlike his initial days in the league, he felt anxious about spending a huge amount on Carmen Electra’s jewelry in 1998. His playing days with the Bulls had just ended and he had begun to worry about his future, as he wrote in his book I Should Be Dead by Now.

“My three-year run with the Bulls was over, I wasn’t sure I’d even have a job the next year, and this wasn’t some $10,000 outfit at Versace or even a $50,000 Mercedes. I was about to sign for $250,000 worth of jewelry,” Rodman wrote. It makes one wonder if not for these circumstances, could Rodman have been one of the wealthiest men in the NBA? What do you think? Share your thoughts in the comments below.

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