arenas, govan

Gilbert Arenas and Laura Govan out shopping with their daughters during happier days back in 2014.

Ex-NBA star Gilbert Arenas $111 million contract with the Washington Wizards will pay out the final installment on Oct 31, after which, he claims that he will no longer be able to afford to send his kids to private school.

According to new court filings in his family law case, Arenas — who made more than $160 MIL during his career — now says with no more NBA money coming in, he’ll only earn $169,895 per year in investment income … not enough to live the BALLER lifestyle he’s used to.

READ RELATED STORY: Gilbert Arenas Wins $3M Defamation Lawsuit Against Ex-Laura Govan

Arenas says he has to make some serious cuts — and one of the items on the chopping block is the private school where he sends his kids … which runs $91,600 per year.

“I anticipate that the children will need to transfer to public schools in 2017 and beyond.”

For the record, Arenas not only made more than $160 MILLION during his NBA career, he also earned tens of millions in endorsements.

Did he really squander the $160 million-plus that he reportedly earned across the lifespan of his NBA career, or is he faking the funk so he can hide money from his ex?

Arenas has been in a bitter public war with his ex/baby mama Laura Govan, who he shares four children with. A judge recently ordered her to pay Gilbert a ridiculous amount of money for slandering him by telling several blog outlets that he gave her STD’s.

Gilbert posted pic (see above) on social media showing his kids rolling in cash that his baby momma won’t get.