Earlier this month, Jeff Teague was traded by the Atlanta Hawks to the Indiana Pacers. Since he will be moving back to his hometown in Indianapolis, Teague has decided to live in his parents' basement.
The deal with the Pacers was finalized on July 7. As stated in the contract, Teague is bound to make $8.8 million next season. But, despite being an NBA superstar and having a lot of money, Teague decided not to buy a house in Indiana.
Instead, he'll just save his money by moving in with his parents.
While speaking with Fox Sports 97.5, Teague explained the mechanics of his current living situation. According to the 28-year old professional athlete, back when he was playing for the Hawks, he purchased a house in Indianapolis. However, after he was re-signed by the team, he decided to live in Atlanta. He then gave his house in Indianapolis to his parents.
But, now that he's playing for the Pacers, he no longer needs his house in Atlanta.
"I bought a home here some years back, and when I re-signed back with Atlanta, I just decided that I was going to live in Atlanta," Teague said. "And I just gave the house to my mom and dad."
"And now, I sold my house in Atlanta, so I'm moving back. So now I'm gonna live in my old house with my mom and dad," he added.
The new point guard for the Pacers then said that even though he's the owner of the house, he didn't ask his parents to move out of the master's bedroom. Instead, he's perfectly okay with living in the basement.
An accomplished millionaire and NBA superstar living in his parents may sound odd but in financial terms, this is actually a good move for Teague. After all, he is still the owner of the house and spending money to buy another one doesn't quite make sense.
Also, given how the world of the NBA works, it's not certain how long Teague will be staying with the Pacers. After a year or two, he could get traded to another team, which means moving again.