Shawn Kemp: The Rise, Fall, and the Deep Financial Struggles of an NBA Superstar

By Edcel Panganiban May 30, 2024 13:58

Shawn Kemp is a former NBA star with a talent for his electrifying style of play and slam dunks. Born on November 26, 1969, in Elkhart, Indiana, Kemps's career got off to a strong start when he was a student at Concord High School where he proved himself to be a star basketball player. There, he would take his team to the state championship finals and set several scoring records.

NBA Career and Success

His skill and work ethic paid off and in 1989, Kemp landed a spot on the Seattle SuperSonics, where he quickly sky-rocketed to become one of the most thrilling and dominating players in the league. In 1995–96, Kemp along with All-Star teammate Gary Payton led the SuperSonics to a franchise-record 64 wins and the NBA Finals for the first time since 1979. His incredible performance in the finals garnered him the nickname the "Reign Man" and solidified him as an NBA superstar.
Even though Kemp was a huge draw on the floor, he still ran into issues off of it and those problems led to financial issues. He would earn $90 million in his playing career but soon after retirement he went bankrupt and ended up with only $5 million.

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The Decline: An Ascent into Financial Hardship and Bankruptcy

Kemp had financial problems largely because of his legal issues, including arrests tied to possession of drugs and charges of a drive-by shooting. His legal troubles meant that he faced large legal bills and may have cost him a lot in potential career earnings. Kemp's personal life also hurt him; he was the father of at least seven children with six different women, and faced heavy child support payments.
Between 2014 and 2016, Kemp was named in a federal lawsuit in connection with his involvement in a Seattle cannabis dispensary bearing his name to launch his marijuana business. Yet his legal troubles, which included an alleged 2023 drive-by shooting that caused him to be arrested, only further compromised his ability to get back on his feet.

What He Lost, What He Found

The case of Kemp should be a cautionary tale for professional athletes but his history of financial difficulties puts him in a different position. This illustrates the point that it is essential to have financial literacy and the ability to make informed choices about legal issues and relationships. Kemp's experience also serves as a reminder of the importance of seeking professional financial advice to help ensure long-term financial security.
In recent years, Kemp has revealed attempts to put his life back together. He moved on to business ownership and a string of entrepreneurial ventures, including ownership of a marijuana dispensary. These are signs of a possible revival, a reminder of the fighter buried deep in Kemp, who looks to make it out from under the rubble of his old self.

The Future for Kemp

The story of how Shawn Kemp became an NBA superstar, only to crumble under the financial restrictions of the league to this day remains one of the most heartbreaking and confusing sagas to ever occur in all of sports. While Kemp's career was laden with setbacks, it is also defined by the possibility of redemption, and the opportunity to start fresh. Kemp is now said to be working on a radio show and as he sort of rebuilds his life after basketball, he serves as a lesson to all athletes to take their financial future into their own hands and aim to have stable and successful post-sports lives.