As the first overall pick of the 2007 NBA Draft, it didn't take Greg Oden long to experience what it was like to be a rich, young Black man. After receiving a four-year deal from the Portland Trail Blazers that would pay him $21,795,444, the 7-footer thought the flow of money would never end.
With his unique combination of height, agility, heft, and talent, the former Ohio State star thought playing basketball would provide him with an endless source of funds. So, he spent money as if there were no tomorrow, aware that a check for hundreds of thousands of dollars would arrive in a few weeks' time.
But everyone knows by now how Oden's career went. Although many expected him to be the NBA's next big thing (the fact that he was picked ahead of all-time great Kevin Durant spoke volumes about his potential), he never panned out in the pros as injuries limited him to playing in only 114 regular-season and postseason games.
Looking back on his ill-fated career, he recalled how becoming an overnight millionaire changed many of his spending habits, and how he's now trying to guide young basketball players to mind their money before indulging in unnecessary wants.
With Oden's contract, he received roughly $454,071.75 every month – that's a lot of dough to spend. But instead of setting something aside every month, Oden's immaturity showed in his admission that he didn't mind spending it all, knowing the next check was just a few weeks away.
"I just know my experience was when I knew that that check was going to be there, I spent all willy-nilly cuz I knew it was coming in, you know, when you're on the team," Oden relayed .
Hindsight is always 20/20, and had Oden known how brief his NBA career would be, there's no doubt he would have practiced more fiscal responsibility, such as living within a reasonable budget and not blowing his money on unnecessary things like expensive cars and jewelry.
Oden added that a lack of fundamental financial knowledge hurt his bank account and this is something that a lot of young athletes suffer from.
"We don't come from financial backgrounds, basically. Like, you know, I'm not going to say my mom had a million dollars. You know, my dad didn't have a million dollars. They just got by," Oden stressed. "And a lot of us who are athletes don't have that same thing as well."
Oden continued that many young athletes have yet to grasp how money works, believing that the money they see on their contracts is what they'll receive. What they don't know is how much Uncle Sam takes. And with NCAA players now able to earn millions through Name, Image, and Likeness (NIL) deals, Oden said it's crucial for them to learn about taxation as soon as possible.
"So the one thing I do want to, you know, teach a lot of these young kids who are getting it a lot earlier, who are not as mature, you know, getting that money in the league – they're 18 years old, just getting $100,000 – is tax. You pay attention to it," Greg conveyed. "A lot of these kids don't understand that, okay, if you get this $100,000 from this school or you get $200,000 from the next school, you know, you got to pay taxes in that state from that other school. Then you're going to have to pay taxes from the new school."
"I just want these kids to understand the basics of financials. Be involved. Be engaged. Pay attention to where your money is coming from and where it's going, who has access to your stuff," he added.
Being the first pick afforded Oden the chance at financial security at an early age. But instead of taking advantage of it and securing as much of his future as he could, he turned to wanton spending, a disastrous choice given how brief his NBA career ended up being.
This story was originally published by Basketball Network on Sep 5, 2026, where it first appeared in the Off The Court section. Add Basketball Network as a Preferred Source by clicking here.
