Damon Jones Net Worth

What is Damon Jones' net worth?

Damon Jones is an American professional basketball coach and former professional basketball player who has a net worth of $1,000. During his NBA career, Damon earned a little under $22 million in salary. Unfortunately, over the years, Damon has faced a number of financial difficulties, including bankruptcy filings in 2013 and 2015, an eviction from a luxury apartment in Houston, and an arrest in October 2025 in connection with a federal investigation into sports betting and gambling.

Damon Jones earned a reputation as one of the NBA's most dependable three-point shooters during the 2000s. Despite going undrafted, he played 11 seasons in the league between 1999 and 2010, appearing for ten different teams and carving out a niche as a reliable perimeter threat and locker-room leader. His best year came with the Miami Heat in 2004-05, when he started 66 games and ranked among the NBA's leaders in three-pointers made and three-point percentage. After retiring as a player, Jones moved into coaching and player development, later serving as an assistant coach for the Cleveland Cavaliers during their 2016 championship run.

Contracts, Salaries & Career Earnings

Damon Jones's NBA earnings reflected the solid career of a respected role player. After several one-year contracts early in his career, he earned a $2.5 million salary during his breakout season with the Miami Heat in 2004-05. The following year, he signed a four-year, $16 million deal with the Cleveland Cavaliers, the largest contract of his playing career. In total, his NBA salaries added up to an estimated $21.7 million. His career earnings placed him among the highest-paid undrafted guards of his generation, particularly impressive given his non-traditional path into the league.

2025 Gambling Arrest

In October 2025, Damon Jones was arrested as part of a sweeping FBI operation targeting illegal gambling and rigged poker networks allegedly backed by organized crime. The federal investigation, codenamed "Operation Nothing But Bet" and "Operation Royal Flush," led to indictments against more than 30 defendants, including Portland Trail Blazers head coach Chauncey Billups and Miami Heat guard Terry Rozier. Prosecutors said the schemes involved both sports-related betting and manipulated high-stakes poker games that used hidden technology to cheat players out of hundreds of thousands of dollars.

According to federal filings unsealed in New York, Jones was one of three defendants named in both cases. Investigators alleged that he provided inside information about NBA player injuries to co-conspirators to aid in sports betting, including one instance in which he allegedly urged another participant to wager on the Milwaukee Bucks because a top Lakers player—believed to be LeBron James—was sidelined. In parallel, Jones and other former athletes were accused of serving as "face cards" who lured high-rolling victims into exclusive poker games in Las Vegas, Miami, and New York, where doctored self-shuffling machines and concealed transmitters allowed organizers to see opponents' cards in real time.

Bankruptcy Filings

Damon Jones's financial troubles have stretched over more than a decade, creating a paper trail of bankruptcies, unpaid debts, and failed repayment agreements. His first bankruptcy petition was filed in 2013, when he listed his personal assets at just a few thousand dollars—including a Yorkshire Terrier, which he valued at one dollar. The case was dismissed, but by 2015, Jones filed again, reporting between $500,000 and $1 million in liabilities against as little as $100,000 in assets. He listed more than $640,000 in debts to various creditors, including $47,000 owed to the Bellagio Hotel and Casino stemming from a "breach of contract/confession of judgment."

Subsequent filings and lawsuits suggest Jones's financial issues only deepened. In 2019, a man named Scott Kerr sued Jones for failing to repay a $10,000 loan that carried a $4,000 fee. Jones allegedly pledged his 2016 NBA championship ring as collateral but never delivered it. Between late 2023 and 2024, three additional creditors filed complaints against him, including one Houston man who claimed Jones agreed in writing to repay $20,000 after borrowing $4,500. Text messages filed in that case included references to "Bron," apparently meaning LeBron James, and discussions about Jones's connections to NBA insiders.

In 2023, Jones was also subject to eviction proceedings from a luxury apartment complex in Houston. Property managers alleged he owed roughly $5,600 in unpaid rent, then filed a second case later that year claiming more than $11,000 in arrears. Jones failed to appear in both cases, resulting in a default judgment and eviction order. Around the same time, court filings indicated he used his NBA title ring as collateral for another personal loan, further underscoring his mounting financial distress.

By the time of his 2025 federal indictment, Jones had faced years of litigation, defaults, and collection efforts, with creditors ranging from casinos to private lenders. The combination of chronic debt and alleged gambling activity painted a portrait of a former athlete struggling to maintain financial stability long after his playing career ended.

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Early Life

Damon Darron Jones was born on August 25, 1976, in Galveston, Texas. He attended Ball High School before enrolling at the University of Houston, where he played three seasons for the Cougars. Known for his shooting and court vision, Jones averaged double-figure scoring as a junior before declaring for the 1997 NBA Draft. He went undrafted but continued pursuing a professional career, spending time in the Continental Basketball Association and other minor leagues before finally breaking through to the NBA in 1999.

NBA Career

Jones made his NBA debut with the New Jersey Nets during the 1999-2000 season. Over the next several years he became a journeyman guard, playing short stints with the Boston Celtics, Golden State Warriors, Dallas Mavericks, Vancouver Grizzlies, Detroit Pistons, and Sacramento Kings. Though rarely a starter, he gained respect as a sharp-shooting backup capable of changing the pace of a game with his outside touch.

His breakout came in 2004-05 with the Miami Heat, where he started most of the season alongside Dwyane Wade and Shaquille O'Neal. Jones averaged 11.6 points per game and hit 225 three-pointers, the third-highest total in the league, while leading the NBA in true-shooting percentage at 62.5%. His accuracy from deep made him one of the most efficient guards in the league and helped Miami reach the Eastern Conference Finals.

In 2005, he signed with the Cleveland Cavaliers, playing three seasons with LeBron James and becoming a key veteran in the locker room. Later stops included the Milwaukee Bucks and minor-league assignments before retiring from professional basketball in 2010. Over his 11-season career, Jones averaged 6.6 points, 1.6 rebounds, and 2.7 assists per game.

Coaching Career

Following his retirement, Jones transitioned to coaching and player development. He began as an assistant with the Canton Charge of the NBA G League before joining the Cleveland Cavaliers' coaching staff. As an assistant coach under Tyronn Lue, he helped the team refine its perimeter play and shooting mechanics, contributing to the franchise's historic 2016 NBA Championship victory.

Jones has since continued working in player development roles and has occasionally appeared as an on-air basketball analyst, offering insight based on two decades of experience in professional basketball.

Personal Life

Away from basketball, Jones has pursued business and community ventures and is known for his outspoken personality. He has one child with former WNBA star Tina Thompson, who was inducted into the Women's Basketball Hall of Fame.

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