Antoine Walker's Giving Financial Advice, but NBA Players Need Better-Structured Contracts

Antoine Walker, who earned a ton of money as an NBA player but ended up bankrupt anyway, is now trying to dispense financial advice to other players. It's a worthy cause, but I think doomed to failure. The nature of professional basketball is that it puts a ton of money into the hands of guys who aren't of an age where you'd expect to see a lot of financial planning, who don't come from social networks that are savvy about business, and who face a lot of social pressure to be big spenders. The good news is that they have a union and a collective bargaining agreement and in principle you could rejigger the basic framework of the contracts to improve the outcomes here. In a normal work arrangement the way it works is that you get a paycheck every week or two until you're gone. Part of the reason it works that way is that you might quit or get fired with very short notice. But NBA contracts...