Sprewell sells $1.5 million yacht, home could be foreclosed

[stevedensmore]

http://sports.espn.go.com/nba/news/story?id=3241444

This is old news and may have already been posted here, but I found it sadly pathetic. It's insane that some people who make this kind of money can'tmanage it well enough to have something to retire on. A simple investment would have been smart.

 

[mustbetheshoe58]

"im just trying to feed my kids"

now look who's broke a a joke..spreeewell..smh

 

[pr0phecy718]

damn man

 

[doublejs07]

yeah...this came out about a year ago...

anyways....what happened to Sprewell Motorsports? I thought he was making some insane money off his side-business?

 

[brownin187]

do it colangelo!

 

[651akathepaul]

 

[ballinboykz]

I think your right DoubleJ's...

I remember seeing something like this over a year ago.

Dude just had to feed his kids

 

[RyGuy45]

ya that story is a year old

One month into the 2005-06 season and without a contract, Sprewell's agent, Bob Gist, said his client would rather retire than play for the NBA minimum salary, telling Sports Illustrated, "Latrell doesn't need the money that badly. To go from being offered $7 million to taking $1 million, that would be a slap in the face." Several days later, Gist said that Sprewell planned to wait until "teams get desperate" around the trade deadline in February, and then sign with a contending team (an eventuality that never materialized). Gist said that Sprewell would not be interested in signing for any team's $5 million mid-level exception, calling that amount "a level beneath which [Sprewell] would not stoop or kneel!"

In February 2008, Sprewell's yacht was auctioned for $865,000 after he defaulted on a $1.5 million mortgage,[sup][12][/sup] and in May 2008 a Milwaukee area home owned by Sprewell went into foreclosure status.[sup][13][/sup] He also owes more than $72,000 in unpaid taxes and his company, Sprewell Motorsports, has not paid credit card bills in months.[sup][14][/sup]


[table][tr][td]1992-93[/td] [td]Golden State Warriors[/td] [td]NBA[/td] [td]$550,000[/td] [/tr][tr][td]1993-94[/td] [td]Golden State Warriors[/td] [td]NBA[/td] [td]$700,000[/td] [/tr][tr][td]1994-95[/td] [td]Golden State Warriors[/td] [td]NBA[/td] [td]$890,000[/td] [/tr][tr][td]1995-96[/td] [td]Golden State Warriors[/td] [td]NBA[/td] [td]$975,000[/td] [/tr][tr][td]1996-97[/td] [td]Golden State Warriors[/td] [td]NBA[/td] [td]$7,000,000[/td] [/tr][tr][td]1997-98[/td] [td]Golden State Warriors[/td] [td]NBA[/td] [td]$7,770,000[/td] [/tr][tr][td]1998-99[/td] [td]New York Knickerbockers[/td] [td]NBA[/td] [td]$8,300,000[/td] [/tr][tr][td]1999-00[/td] [td]New York Knickerbockers[/td] [td]NBA[/td] [td]$9,000,000[/td] [/tr][tr][td]2000-01[/td] [td]New York Knickerbockers[/td] [td]NBA[/td] [td]$10,125,000[/td] [/tr][tr][td]2001-02[/td] [td]New York Knickerbockers[/td] [td]NBA[/td] [td]$11,250,000[/td] [/tr][tr][td]2002-03[/td] [td]New York Knickerbockers[/td] [td]NBA[/td] [td]$11,937,500[/td] [/tr][tr][td]2003-04[/td] [td]Minnesota Timberwolves[/td] [td]NBA[/td] [td]$13,500,000[/td] [/tr][tr][td]2004-05[/td] [td]Minnesota Timberwolves[/td] [td]NBA[/td] [td]$14,625,000[/td] [/tr][tr][td]Career[/td] [td][/td] [td][/td] [td]$96,622,500[/td] [/tr][/table]

 

[stevedensmore]

I know it is old news, came out almost a year ago. I ran across it while googling his name. Regardless, this is pretty pathetic. He should have smartened upand signed that 21 million dollar contract.

 

[lilhen18]

Originally Posted by mustbetheshoe58

"im just trying to feed my kids"

now look who's broke a a joke..spreeewell..smh

I lost any sort of sympathy I may have had for him after that comment.

 

[casperjr]

i still to this day dont under stand how he turned down that contact !+*! how he was talkin i thought it was somebody else that would pick him up

 

[physicx]

remember them dada's?

did he ever make any money from those?

 

[acbboyz84]

WHERE"S THE NIKE TALK LATEPASS ? THis was posted about 1.5 years ago

 

[jpzx]

Originally Posted by ACBboyz84

WHERE"S THE NIKE TALK LATEPASS ? THis was posted about 1.5 years ago

 

[GreenNGold89]

I've said it before and I'll say it again...any athlete who goes broke is an idiot...

 

[youngtriz]

how did he go broke so fast... did he just spend it all??

 

[cquan05]

How does a dude who made $96 MILLION over his career, as well as endorsements, AND his motorsports business come to this?

 

[rash]

Originally Posted by Physicx

remember them dada's?

did he ever make any money from those?

haha i still got them dadas with the spinners.

 

[enrique23]

Originally Posted by lilhen18

Originally Posted by mustbetheshoe58

"im just trying to feed my kids"

now look who's broke a a joke..spreeewell..smh

I lost any sort of sympathy I may have had for him after that comment.

me too

 

[mf doomer]

I remember when he choked out the coach back in the day lol. What goes around comes around.

 

[jaijai84]

Sad just sad..

 

[Los Angeles]

Originally Posted by Rash

Originally Posted by Physicx

remember them dada's?

did he ever make any money from those?

haha i still got them dadas with the spinners.

Why would you admit to that?

 

[pacmandreads]

bonzi your next buddy. shoulda took that contract from sacramento now where are you?????????????

 

[nublee]

Olympiacos has just contacted him

 

[dmbrhs]

Originally Posted by JaiJai84

Sad just sad..

No, it isn't. He made millions of dollars in his career, and then cried like a baby when he was offered and "insult" of a contract,and he clearly wasn't mature enough to handle the money he did have. He deserves everything that came to him.