Sprewell’s Yacht is Gone – Is His Home Next?
Courts, Legal, NBA February 12th. 2008, 12:15pm
Forget about feeding his family – where the hell is the dude gonna live? He hasn’t made mortgage payments on his house in Wisconsin since September (Spree, don’t wait for that bailout, dog – it ain’t coming), and the bank is closing in. Yikes. Is Latree Sprewell gonna have to choke a bitch?
Sprewell yacht auctioned; home foreclosure suit filed (J-S Online)
52 Responses to “Sprewell’s Yacht is Gone – Is His Home Next?”
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February 12th, 2008 at 12:18 PM
I know the guy is fairly despicable, but I feel really bad for him. Not just him, but a lot of NBA vets seem to have money problems when they are done with their career’s. You’d think the NBA would try and teach these guys a thing or two about money management.
February 12th, 2008 at 12:23 PM
Feel bad for him!?!?!?
Didn’t the T-Wolves offer him a huge contract that he turned down “so he could feed his family”. This guy is a moron and I don’t feel for him in the least. He could have had millions, it was his dumbass that turned it down.
February 12th, 2008 at 12:25 PM
I don’t even need to say anything because CBH49er just said it for me. He had a ton of money offered to him and he said no.
February 12th, 2008 at 12:25 PM
the T-Wolves offered 3 years 21 million and he turned it down cuz it was insulting. i live in milwaukee, and always see this dude out. he’s a bum. he used to party with the girls that live upstairs of me and we always had a running joke when he was over.
February 12th, 2008 at 12:26 PM
You’d think the NBA would try and teach these guys a thing or two about money management.
Sprewell strikes me as the last guy who listen to what anyone was trying to teach him, especially about what to do with his money.
February 12th, 2008 at 12:27 PM
7 million a year for an aging player is not insulting.
February 12th, 2008 at 12:27 PM
he made roughly 45 million, and has nothing left. this is unfathomable to me. He bought his house for $400k, the boat for $1.5 mil, and some cars. where is the rest of the money? cocaine’s a helluva drug
February 12th, 2008 at 12:28 PM
If the offer was so “insulting” why didn’t he sign with someone else for big money?
??????????????????????????????????????
February 12th, 2008 at 12:28 PM
Does my job teach me about how to manage my money? Why should the NBA do it for these guys, especially when they have more to work with in the first place.
Athletes should be smart like most regular Joe’s and spend what they can and not spend what they can’t.
February 12th, 2008 at 12:28 PM
Benji, need more info on that!
February 12th, 2008 at 12:29 PM
benji, before taxes Spree made over 96 million. I imagine he had a few endorsements as well.
February 12th, 2008 at 12:30 PM
What shocks me is that he didn’t buy a $400k house Randy Moss style – straight cash, homey. What kind of multimillionaire is making payments on a $400k house in the prime of their career?? Granted, he would still have to come up with the cash for taxes, but that’s about it.
February 12th, 2008 at 12:31 PM
1992-93 Golden State Warriors NBA $550,000
1993-94 Golden State Warriors NBA $700,000
1994-95 Golden State Warriors NBA $890,000
1995-96 Golden State Warriors NBA $975,000
1996-97 Golden State Warriors NBA $7,000,000
1997-98 Golden State Warriors NBA $7,770,000
1998-99 New York Knickerbockers NBA $8,300,000
1999-00 New York Knickerbockers NBA $9,000,000
2000-01 New York Knickerbockers NBA $10,125,000
2001-02 New York Knickerbockers NBA $11,250,000
2002-03 New York Knickerbockers NBA $11,937,500
2003-04 Minnesota Timberwolves NBA $13,500,000
2004-05 Minnesota Timberwolves NBA $14,625,000
Career 96,622,500
February 12th, 2008 at 12:32 PM
i think other teams didn’t want anything to do with this guy after MN gave him a fair extension (3 yrs @ 7mil per). as far as i know, he never got another offer after that. i thought i read somewhere yesterday that his earnings were around 45 million, but either way, how you blow that much money is wild to me.
February 12th, 2008 at 12:32 PM
I had a pair of his shoes when I was in like 7th grade.
February 12th, 2008 at 12:35 PM
he bought the house in 1994 in River Hills which is just north of Milwaukee. I was very suprised to know they had houses worth only $400K in River Hills. Its probably the crappiest house in the neighborhood.
February 12th, 2008 at 12:36 PM
That $600 economic stimulus check is going to look rather nice in a few months.
February 12th, 2008 at 12:38 PM
a girl in my building worked in the bucks ticket office, so we were always hanging out with players. For the most part, they were always chill and knew how to have fun like normal people, but Sprewell would always get out of control. I always made fun of the girl because she was a jersey chaser, and Spree wasn’t a very good catch.
February 12th, 2008 at 12:40 PM
ASU, has that been passed yet? We are for sure getting the check?
February 12th, 2008 at 12:43 PM
I think the NBA, like other pro leagues, has an orientation for new players on dealing with media, groupies and financial management. Oh, and eat sh*t Sprewell!
February 12th, 2008 at 12:44 PM
@cbh49er – From what I heard, it has been through the House and Senate and is just awaiting the Presidents signature.
@TBL – In the Political round-up (or if someone wants to tackle it today), could someone explain the purpose of the Superdelegates.
February 12th, 2008 at 12:44 PM
Dear Athletes
Don’t spend the principal.
/s/ common sense
February 12th, 2008 at 12:45 PM
/s/ common sense
@rittyrich – Its not to common.
February 12th, 2008 at 12:46 PM
Apparently Latrell stepped out for a smoke break when they covered “Don’t choke the sh*t out of your coach” at the orientation.
February 12th, 2008 at 12:46 PM
off topic here, but does anyone remember those nike basketball shoes from like 97-96 that were like canvas or something? They were like 4 pounds and ugly as shit.
February 12th, 2008 at 12:48 PM
Considering most Americans are in credit card debt, I should qualify my statements as saying this isn’t a problem that is limited to NBA athlete’s. As the foreclosure crisis has taught us anything it’s that most Americans don’t understand money management.
But I was also referencing a report that said NBA players are more likely to go bankrupt than any other major sports players.
February 12th, 2008 at 12:48 PM
Benji
I really meant more info on the people he parties with that live upstairs from you. i want drunk stories and whore stories.
February 12th, 2008 at 12:48 PM
@cbh: All it needs is the President’s signature to my knowledge. Then I am going to buy myself some fly ice. Maybe a ho or two too.
February 12th, 2008 at 12:49 PM
Scottie Pippen feels for Spree
February 12th, 2008 at 12:49 PM
Apparently the smart move (for tax purposes) isn’t to buy a house cash, but you’d think Spree would have at least put 20-30% down, right?
Anyone want to bet he put down less than 10%?
February 12th, 2008 at 12:50 PM
I just have a hard time believing that Sprewell is broke. The article isn’t very thick on details so it’s all just speculation, but I’d lean more towards him leaving the area and not keeping up on the payments for those 2 assets. A 400k house for a guy making $14M per year? Maybe it was for a family member or baby momma, but usually a guy with a yacht doesn’t live in a regular Joe house.
And if Spree is indeed broke, then I will have a hearty laugh because he appears to be a world-class dick.
February 12th, 2008 at 12:52 PM
This is totally overblown.
Everyone knows he’s doing this to live under the sea, where he and his family can frolic with Ariel, Sebastian and the rest of the gang.
February 12th, 2008 at 12:53 PM
didn’t this dude also own some high end rim business with his brother.
February 12th, 2008 at 12:56 PM
@TBL: I’m sure there is some sub-prime interest only person out there that put down less than 10%. I miss the good ol` days when mortgages were being handed out to just about anybody.
February 12th, 2008 at 1:01 PM
The one smart thing he did was not to pay cash for the house. Someone making millions needs all the tax breaks they can get. Granted a 400K house isn’t much a break for someone making 14 mill, but any help is good help. unless you’re Spree.
February 12th, 2008 at 1:04 PM
@ET
Rough explanation on superdelegates–they’re convention delegates selected by the party who aren’t beholden to the results of the primaries/caucuses. So if Obama beat Clinton 65-35 in a state, then the state would send a delegation of approximately 65% Obama-lovers, and 35% Clinton-lovers. But there might be 20 other SUPERdelegates (usually current and former officeholders) who can vote for whomever they want, regardless of how the primary/caucus went. It’s a big deal, because, conceivably, one candidate could win a primary unanimously and take all those delegates, but the superdelegates could all vote for the other candidate. It’s basically a way for party bigwigs in each state to make sure the candidates dance to get their endorsement.
February 12th, 2008 at 1:05 PM
Jibble, I understand, I just feel when you are working with 45 million or whatever it shouldn’t be that hard to manage your finances, as to say someone who is making 45K a year.
February 12th, 2008 at 1:06 PM
Isn’t the deal that Hillary might win the nomination based on the super delegates, even though she might lose the popular vote?
February 12th, 2008 at 1:07 PM
At the time he bought it, Spree was two years in the league and making less than a million, so going straight cash homey wouldn’t have been practical, especially since he probably blew a big chunk of his first year’s salary on typical stupid rookie stuff.
February 12th, 2008 at 1:08 PM
@ CRM
You weren’t anyone unless you had the Spinners.
February 12th, 2008 at 1:08 PM
@cbh: lose the popular vote but win the election? sounds familiar……
February 12th, 2008 at 1:09 PM
@broseph – Thanks man.
February 12th, 2008 at 1:09 PM
cbh, that is correct. I posted the numbers yesterday in the political thread, but since we probably won’t have one today, they’re below. Obama is currently leading in ‘voted’ delegates (though it’s very close there), but losing the overall because of the ’super’ delegates.
Clinton – 924 ‘voter’ delegates – 224 ’super’ delegates – 1,148 total
Obama – 986 ‘voter’ delegates – 135 ’super’ delegates – 1,121 total
February 12th, 2008 at 1:10 PM
Thanks Ben.
February 12th, 2008 at 1:16 PM
I understand the Idea of Super delegates, but it does seem sketchy. THese are votes that can be “bought” by the candidates. I mean I heard on the radio about Jason Rae who is 21 years old in Wisconsin. This is that kids first presidential election and he holds that much power in his hands?
February 12th, 2008 at 1:20 PM
Sounds like we might be getting a Chelsea-J-Rae sex tape soon.
February 12th, 2008 at 1:30 PM
Do you think Spree is going to have a sign that says “Will Choke Coach for Food” soon?
February 12th, 2008 at 1:33 PM
I saw that kid on theToday Show. I dont think Jason will be in any sex tapes, especially with a female.
Super-delegates are whats wrong with elections. Some Washington insider deciding who gets the nomination instead of the voting public.
February 12th, 2008 at 1:38 PM
Jason Kidd envies Jason Rae.
February 12th, 2008 at 1:49 PM
What’s funny about the choking is less that he choked him, but that someone thought it would be a good idea to bring him back to practice after he cooled off, and then he goes after him again. Really? Was having Latrell run the three-man weave so important that they couldn’t just send him home?
Speaking of sex tapes, how have we not gotten one of a major politician yet? Doesn’t exist, currently being used for major extortion, or girl/dude was intimidated/offed?
February 12th, 2008 at 2:15 PM
@cbh:
Mo’ Money, Mo’ Problems
February 12th, 2008 at 5:19 PM
I’m the reason Spree is broke. One night in 2004 I was out with some people from work. We were at a Minneapolis club and I was hoping to get to score with this hot chick I worked with. Well, Spree rolled in wearing some really stupid looking clothes including a plaid hat that looked like something a 75 year old would wear while golfing. It probably cost him 5k too. The whole place was star-struck. I tried making fun of his clothes but to no avail; hottie was fixated on him the whole night. Never scored with her all xmas break and by the time we came back next summer, she had a boyfriend. I stared at Spree and put a curse on him. Now he’s broke. He’s probly more upset about the other half of my curse tho (thumb-sized dick).