Sure, it was all fun and games to make fun of Latrell Sprewell for turning down a $21 million contract a few years ago because he "had to feed his family." Well, that family, which has apparently been floating around on a Milwaukee boat, is about to get hungrier.
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!