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]

Turns out, Spree's boat has been repossessed

Armed with an order from U.S. Magistrate Judge William E. Callahan Jr., a federal marshal seized the $1.5-million, Italian-built vessel in Manitowoc, Wisc., where it sat in storage, Milwaukee's Journal Sentinel reported. A New York bank is claiming the yacht's owner, a company run by Sprewell, 36, has defaulted on a mortgage loan.

The firm, LSF Marine Holdings, hasn't made monthly payments of $10,322 on time and hasn't maintained the necessary insurance on the 6-year-old vessel, North Fork Bank alleges. It wants the yacht, "Milwaukee's Best," sold to pay off the $1.3 million it says is remaining on the loan.

To think, it was only a year ago that Sprewell was being accused of choking someone on that boat. Memories!

Maybe We Shouldn't Have Laughed At Sprewell's "I Got My Family To Feed" Comments [The Smittblog]

Apparently, anyway. OnMilwaukee.com reports that Sprewell is being investigated by Milwaukee police for allegedly trying to choke a woman during sex on his boat "Milwaukee's Best." It was yesterday morning, when a 21-year-old woman was having sex with Sprewell when she screamed as he was trying to choke her. She complained to the police, who reported red marks on her neck. The potential charge is sexual assault.

Sprewell had no comment, though if they make a movie out of his life, we know now he will be played by Wayne Brady.

Latrell Sprewell Being Investigated For Sexual Assault, Choking [OnMilwaukee.com]