Many of you reading the title above will assume this is just yet another joke about former NBA star Latrell Sprewell, who made many millions of dollars playing in the NBA yet insisted he needed money to feed his family. But he actually does have economic problems. The AP reports:
Former NBA star Latrell Sprewell’s home is up for foreclosure and his yacht sold at auction to help pay off the $1.3 million he owes on the boat, according to court filings. Sprewell, who once turned down a three-year, $21 million contract extension from the Timberwolves, saying, “I’ve got my family to feed,” apparently has fallen on tough times.
RBS Citizens NA, or Citizens Bank, filed a foreclosure suit last week in Milwaukee County for the $405,000 home Sprewell bought in the Milwaukee suburb of River Hills in 1994. In court documents, the bank said Sprewell owed $295,138 in outstanding payments plus interest. Sprewell failed to make his monthly mortgage payments of $2,593 from September 2007 to January 2008, the documents said.
I can tell you that when InsideHoops.com buys mansions and yachts, we pay cash, in full, with no mortgage. That’s just how we roll, son.
Trail Blazers forward James Jones will be out of action an additional 3-5 weeks to rest his sore left knee, Portland general manager Kevin Pritchard announced today.
Detroit Pistons forward Rasheed Wallace has been named by NBA Commissioner David Stern to replace injured East All-Star Kevin Garnett (abdominal muscle strain) of the Boston Celtics for the 2008 NBA All-Star Game on Sunday, Feb. 17 in New Orleans.
The Dallas Mavericks announced today that they have re-assigned guard Maurice Ager to the Tulsa 66ers of the NBA Development League.
Los Angeles Clippers guard Sam Cassell has been suspended one game without pay for committing a Flagrant Foul Penalty Two by swinging and making contact with the head of Boston’s Rajon Rondo, it was announced today by Stu Jackson, NBA Executive Vice President Basketball Operations.
Rockets guard Steve Francis will undergo season-ending surgery in order to repair a torn quadriceps tendon in his right knee. Francis has been sidelined with the injury since 12/19/07. The surgery will be performed during the week of 2/25 by Dr. Walter Lowe.