Rodman rebounds from near-bankruptcy: report

Jet, June 10, 1996

NBA rebounding champion Dennis Rodman was borderline bankrupt before he joined the Chicago Bulls last year, the-June issue of Smart Money magazine reported.

The magazine revealed that Rodman, who has led the league in rebounds for the last five seasons, was more than $1 million in debt because of spending sprees and junkets to Las Vegas which exceeded his $2.5 million salary.

Rodman had difficulty making a $9,000 monthly alimony-payment, a $3,800 overdue Ferrari payment and had not made a payment on a $500,000 house loan for five years. His debt totaled as much as $745,000.

Rodman's manager Dwight Manley said in the magazine that he put Rodman on a $1,000-a-week budget, canceled the multi-tattooed star's credit cards, extended pay meets on his debts and had Rodman attend autograph shows that paid him $50 a signature.

Now the neon-haired power forward is back in the black, with commercial and investment ventures. He received a seven-figure contract for his new book Bad As I Wanna Be, which is on the best-seller list. Rodman, who'll be a free-agent July 1, said in his book that he'll ask for a two-year, $15 million contract.