Deadspin
In case you have forgotten, in 2005, according to Wikipedia, here's where Latrell Sprewell stood, contract-wise.
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!">/blockquote>Well, that didn't turn out well; there were no more contracts coming. And now the poor fella has to sell his awesomely named yacht, "Milwaukee's Best."
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. 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.You know, it happens. These families (and boats ... and lawsuits ... and parties) aren't going to pay for themselves.
Spree Can't Afford To Feed His Yacht [The Howeva Files]
Comments
He couldn't pick good beer? Hell, he couldn't even pick not-piss beer?
He also burned down his banana stand with the hopes of collecting the insurance money, but his brother dramatically threw the check into the sea.
Too bad. He had quite a competition going with "Old Style," moored right next to him.
I just hope that one day, PJ gets to choke a bitch back.
His hair should be called the Ghetto Predator.
Spree, WTF? You still have a mortgage on a 400K home? Spree . . . even with "money being cheap", you could have paid this off at least 100 times over.
nibbles?
@1980 David Bowie From The Music Video Ashes To Ashes: He will not reveal his secrets...He sank that yacht! He has insurance right?
NESTED BLOCKQUOTE ATTACK
Bison Dele could also use a raft.
Too late?
When it comes to money management, Spree really choked.
When did Sprewell turn into my freshman year philosophy professor?
Can't he just choke the judge like he did his coach?
It's too bad. Spree had the inside of the boat decked out exactly like the Ladies Man's.
Milwaukee's Best wasn't the original name but Choke A Bitch was already taken
Rumor is that Devin Harris outbid Carl Landry for the yacht...
Who's his financial advisor? Isiah Thomas?
@ghostsoftheSCupcountry: Please let it be Wally Szczerbiak.
proving once again that professional athletes should not only hire an agent, but a financial planner, as soon as they decide to go pro.
$96 million in NBA salary and he couldn't pay cash for a $400K house?
Spree is regretting hiring MC Hammer as his financial adviser.
@BraveSrRob: Spree was planning on taking the yacht to Portugal... down South America way...
Can't he sell the 22's that his toaster sits on?
@Da_Mang: "Alright, step one: give your friends money whenever they ask for it. Now, let's get going on developing our parachute pants investment plan."
Maybe he went on a spending spree and bought his girlfriend an expensive choker
His smaller, cheaper boat will be called Pabst Blue Ribbon.
@Beer-Fart: +1
@strum40: Spending SPREE?!?!?
/shits pants
How can a man who wears glasses so greatly mismanage his finances?
I blame the subprime meltdown.
"Don't worry Spree, we'll invite you to all the parties we throw on your yacht."
-Fred Smoot & Bryant McKinnie
@Weed Against Speed: He called it the L.A. Forum, because it was where the magic happened...
Where is all the money from inventing spinning rims?
Fred Smoot wants to know what kind of privacy this yacht can offer.
@Fuck Lion: Spree spends a lot of money because he makes a lot of money.
/Patrick Ewing
@goathair: I think Jerramy Stevens already has dibs on that name.
The boat was in port next to such lovely vessels as "Leinie's" and "Natural Light."
If Spree would have been more stern with his wife about her spending, he could have kept the boat. He always would bow under pressure from her, though.
@LeagueofShadows: Despite all the bad press, it will run surprisingly well.
Won't somebody please think of the children?
Nothing else has worked so far
So I'll wish upon a star
Wonderous shining speck of light
I need a Jew
Lois makes me take the rap
Cause our checkbook looks like crap
Since I can't give her a slap
I need a Jew
/Peter Griffin
Where to find
A Baum or Steen or Stein
To teach me how to whine and do
my taaaaaxesss...
Though by many they're abhored
Hebrew people I've adored
Even though they killed my Lord
I need a Jew
@MurrayHewitt: Don't think you get too much privacy out on Lake Winnebago - Latrell, Present.
And he still, presumably, has a family to feed...
No one owns "Milwaukee's Best". They merely rent it.
@PQ Crash: Sounds good, but I think Spree has dibs on that honor.
Be careful of what you wish for in a raft...
/MichaelSawyerWaltJin
Never would have had this problem if he'd used Wu-Tang Financial.
Luckily, "Project Lifeline" has arrived just in time for Spree to avoid foreclosure.
@Signal to Noise: Why drag Leinie into this?
"I took this boat to Denver."
/Not Tracy Jordan's boat
I hear Huck Finn is looking for a traveling companion.
Sprewell couldn't grasp the idea that the interest keeps spinnin' even when you stop (paying)
I took this boat to Denver.
/Not Tracy Jordan's boat
@1980 David Bowie From The Music Video Ashes To Ashes: Damn you, Nibbles.
Remember, Spree. Don't pay the ferryman, till he gets you to the other side.
/CdeBurgh
Spree should move next door to Alan Sapinsly.