San Antonio Spurs star Tim Duncan has alleged that he lost $25 million to a dishonest financial advisor, but said the loss won’t affect his decision on whether to return next season.
ESPN noted that Duncan’s contract expires on June 30 and the 39-year-old has not said if he is leaning toward retirement or returning for a 19th season.
Duncan spoke to Bloomberg on Wednesday and explained why the hefty loss wouldn’t influence his decision either way.
“Luckily I had a long career and made good money,” he said. “This is a big chunk, but it’s not going to change my life in any way. It’s not going to make any decisions for me.”
The power forward discovered the losses after his 2013 divorce and sued his former financial adviser, Charles Banks, in January.
According to the complaint, Banks withheld 20 percent of what Duncan was owed on a $7.5 million loan with Gameday Entertainment. The complaint filed also alleged that the athlete’s signature was forged on some investment documents. Duncan is seeking to recover $1 million in damages from the Georgia businessman.
“I trusted someone to do a job that I hired them to do and they misused my trust and went astray and started using my money.”
Banks has denied any wrongdoing.
For more sports news follow Michelle on Twitter @PhilaMichelle