Iman Shumpert Was Broke After Draft, Watched Rookies Spend Millions

BY Erika Marie 32.4K Views
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Iman Shumpert Draft
Iman Shumpert was drafted in 2011, but that year, the NBA shut down for the lockout. While he played it safe financially, other draft picks took out multi-million loans.

Nine years ago, Iman Shumpert stepped into the NBA scene as the 17th overall pick in the NBA draft. The then-20-year-old didn't know what was in store for his career especially because that was the year the league shut down over the NBA lockout. While other draft picks were relishing in the good news that they were now professional basketball players, Iman told Coach PR for Vlad TV that nothing really changed because he "was still broke."

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"They were like, 'What's the first thing you bought?' Still broke," Iman remembered. People would ask him if he took out a loan because he was "good for it," but the free agent revealed that he had veteran players that were giving him financial advice. "I've been broke my whole life," he said. "I can be broke 'til this [is] over... I was already broke. I'm straight. I'll figure it out. I just worked out the whole time."

Iman had people like Jaren Jackson, Tony Allen, and Will Bynum who kept in contact with him as soon as the lockout was in place to make sure he wasn't making any rash decisions. "[They were] making sure I was straight like, 'Don't take no big loan, don't tweet,'" Iman recalled. "They was all calling me like, 'I don't know what these little dumb draft picks are out here doing. Everybody posting cars. Don't do that sh*t. Chill out.'"

Iman also said his mentors assisted in helping him get minor deals promoting events or products in order to make a bit of money on the side until the lockout was over. He said he survived college on a $12K Pell Grant, so after he made $40K from hosting or promoting, he knew he could live off of that as he watched other rookies take out $2 million loans before even bouncing a ball. Check out Iman Shumpert's clip from Vlad TV below.


About The Author
Since 2019, Erika Marie has worked as a journalist for HotNewHipHop, covering music, film, television, art, fashion, politics, and all things regarding entertainment. With 20 years in the industry under her belt, Erika Marie moved from a writer on the graveyard shift at HNHH to becoming a Features Editor, highlighting long-form content and interviews with some of Hip Hop’s biggest stars. She has had the pleasure of sitting down with artists and personalities like DJ Jazzy Jeff, Salt ’N Pepa, Nick Cannon, Rah Digga, Rakim, Rapsody, Ari Lennox, Jacquees, Roxanne Shante, Yo-Yo, Sean Paul, Raven Symoné, Queen Naija, Ryan Destiny, DreamDoll, DaniLeigh, Sean Kingston, Reginae Carter, Jason Lee, Kamaiyah, Rome Flynn, Zonnique, Fantasia, and Just Blaze—just to name a few. In addition to one-on-one chats with influential public figures, Erika Marie also covers content connected to the culture. She’s attended and covered the BET Awards as well as private listening parties, the Rolling Loud festival, and other events that emphasize established and rising talents. Detroit-born and Long Beach (CA)-raised, Erika Marie has eclectic music taste that often helps direct the interests she focuses on here at HNHH. She finds it necessary to report on cultural conversations with respect and honor those on the mic and the hardworking teams that help get them there. Moreover, as an advocate for women, Erika Marie pays particular attention to the impact of femcees. She sits down with rising rappers for HNHH—like Big Jade, Kali, Rubi Rose, Armani Caesar, Amy Luciani, and Omerettà—to gain their perspectives on a fast-paced industry.

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