Jalen Rose will forever be a Michigan Wolverines legend as a member of the vaunted “Fab Five” that reached the 1992 and 1993 NCAA Men's Division I Basketball Championship games in 1992 and 1993.
He would be drafted 13th overall by the Denver Nuggets in the 1994 NBA Draft, and it wouldn't be long before he decided to splurge with some of his new income. His first purchase? A luxury Vertu cell phone that cost $15,000.
“I paid $15,000 for a phone that I never used,” Rose said. “That's a dumb purchase.”
“Your first contract, you spend it all,” he said. “Almost everyone spends it all.”
Rose would go on to earn well over $100 million over the course of his NBA career, appearing in 923 games with the Nuggets, Indiana Pacers, Chicago Bulls, New York Knicks, Toronto Raptors, and Phoenix Suns. He's now an analyst with ESPN and ABC.
– – Quotes via The Score Link – –