Thursday, May 15, 2008

Will Work For Food (or Boat, House)

Proving once again that professional athletes don't make great Financial Advisors, Latrell Sprewell is in the news again:
A River Hills home belonging to former NBA star Latrell Sprewell was foreclosed on Monday after he failed to show up in court to Monday contest the action brought by a bank that held his mortgage.

The holder of the mortgage, RBS Citizens Bank, told Milwaukee County Circuit Court Judge David Hansher that Sprewell owes $320,284. According to River Hills records, the house is assessed at $610,000 and has an estimated fair market value of $667,980; he bought the house in 1994 for $405,000.

That's right: The man who once declared he was going to fight to "feed my family" didn't even show up to court to contest the foreclosure.

This is just the latest chapter in the stellar career of good ol' Spree. He should have learned by now that karma has a way of coming back to kick you in ass. You all remember his first shining moment, don't you? Since then, Sprewell's on and off court life has gone to shit, while P.J. Carlesimo gets to coach Rookie of the Year Kevin Durant with the Sonics. Rumor is he can also take deep breaths again without pain.

After Chokegate, Spree then decided to tempt the karmic money gods while playing in Minnesota:

''Why would I want to help them win a title? They're not doing anything for me. I'm at risk. I have a lot of risk here. I got my family to feed.'' Sprewell is due to make $14.6 million this year. Sprewell, 34, described the team's latest offer, reported to be worth between $27 million and $30 million over three years, as ''insulting.''
Bet it would nice to have some of that cash now, eh Spree?

Frankly, this has Celebrity Boxing or some other reality show written all over it. A few examples:

Spree Needs a House (based on Farmer Wants a Wife): Spree could go around auditioning houses for his approval.

Deal or No Deal: The Latrell Sprewell Experiment: I think he might actually win the $1M because he would always turn down the banker's deal, no matter what.

The Price is Right: He would probably be horrible at this game simply because he'd overbid for everything. $500 tea set? Latrell goes with $14,000! End of the show showcase valued at $37,000? ONE MILLION!

AOL Sports: Sprewell's Home Foreclosed

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