LOL@his mom blowing the $15,000 he gave her and she lost the house he bought her hahahahahahahahahahaha. I'm not surprised because blacks are the worst at saving money and not paying their bills on time.
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LOL@his mom blowing the $15,000 he gave her and she lost the house he bought her hahahahahahahahahahaha. I'm not surprised because blacks are the worst at saving money and not paying their bills on time.
https://nbcprobasketballtalk.files.w...phis.jpg?w=320
Someone in Allen Iverson’s inner circle was a true friend to the man.
Peter Vecsey laid out in detail in the New York Post — someone in Iverson’s inner circle was a true friend. Someone recognized if just given the money he would burn through it, so…A person with a firm grip on the situation informs me Iverson has an account worth $32 million, a principal he is prohibited from touching until 55. In the meantime, it feeds him $1 million annually.The $32 million is known as the “Reebok fund” among Iverson’s friends, because the money came from shoe deals.
At 45, Iverson is eligible to start drawing on an NBA pension that maxes out at 10 years of active duty, or take whatever’s there as lump sum. He will be entitled roughly to $8,000 per month ($800 per x 10).
If at all possible, Iverson will issue a restraining order against himself until he’s 62 or so. At that time, I’m told, his lump sum will be between $1.5 million and $1.8 million, or he can elect to take monthly checks of approximately $14,000 per.
Now, living with in those means may be a challenge for Iverson. But someone had the foresight to protect the man from himself, and that is going to save him. That is what a true friend does.
Quote:
Originally Posted by IronSheik
LOL@Allen Iverson lost 2 houses to foreclosure hahahahahahahahahahaha. I saw a documentary about him earlier this week on Youtube. He was trying to come back to the NBA a few years ago because he's broke LOL. I'm glad to hear he has some money stashed away and he's not able to spend a lot of it until he's 55. That's nice of his friend to help him out with saving his money.
It looks like former boxer Riddick Bowe may have some financial troubles.
http://img.bleacherreport.net/img/im...759&h=506&q=75
The former two-time heavyweight champion took to Twitter on Tuesday in an effort to scrape up some extra money, telling people he "will tweet anything to anyone" for $20.
Estimated Career Earnings: $50 million
With only one loss on his professional record, Bowe holds the distinction of being the only boxer to defeat Evander Holyfield twice. After becoming the undisputed heavyweight champion of the world at the age of 24, Bowe brought in millions through fight purses and endorsements from companies such as FILA. So, how did the former champ go from making millions to trying to sell his own autographed memorabilia at a flea market in New Jersey? Bowe admits to splurging on lavish homes, luxury cars and helping out friends and family but also says his money was mismanaged by advisers. Kind of ironic considering his boxing nickname was Sugar Man.
The 47-year-old does have a big audience, around 450,000 followers.
It looks like we have our first customer, tweeting that a random kid is better than him at boxing.
That's sad. He used to live not too far from me in a neighborhood in Maryland called Tantallon which is in Fort Washington. I used to go to high school with his niece and nephew. I wanted his niece because she was cute. I don't have no sympathy for these former athletes when I hear about their money problems because blacks are the worst at saving money and spending money wisely. A lot of them use the excuse that they were poor growing up and when they became successful, they wanted to buy a lot of nice things. There's nothing wrong with wanting to have nice things that you didn't have when you were poor but you can have nice things that aren't expensive.
Bowe isn't that intelligent.
Court filings unearthed this week reveal that banks, the IRS, and a casino are lining up to collect from former star NFL running back Clinton Portis. Even worse, it looks like the bank is trying to foreclose on the house Portis bought for his mother in 2004.
http://i.kinja-img.com/gawker-media/...3922530732.jpg
Just last week, the bank holding the note to a home in Alachua County, Fla.—where Portis starred at Gainesville High School—continued its year-long quest to repossess the property whose deed is held by Portis and his mother, Rhonnel Hearn. That prompted a search into Portis’s other legal troubles, which include:
- The IRS claiming he owes nearly $500,000 in back taxes.
- MGM Grand Casino in Las Vegas winning default judgment in the amount of $287,178.56.
- A dealer seeking $157,290 in payments on an Audi S5.
- Foreclosure proceedings on a $512,000 mortgage for a Miami condo.
- Settlement to avoid possible foreclosure on a property in Coffee County, Ala.
- A $20,000 lawsuit from a condo association over assessment money.
Portis avoided foreclosure on the Miami property last year by selling it and thus getting the lawsuit dismissed, but he’s still facing trouble with the bright purple house north of Gainesville, which we believe is the one he purchased for his mother. (Purple and white are GHS’s colors; Portis says the color reminds her of “royalty.”) Court documents reveal Portis has yet to answer to the bank’s complaint—records show a private investigator failed at all attempts to serve Portis with the foreclosure notice, though when contacted by the P.I. the former University of Miami star said he “had a lawyer,” but refused to give the attorney’s name.
Meanwhile, the Clark County court in Nevada just last month declared default judgment in total of $287,178.56 to MGM Grand in a case we believe deals with Portis’s unpaid gambling debts. Court records show no attorney of record for Portis, and the default judgment implies he never responded to the lawsuit. Previously, Portis had been an investor in a failed casino that lost as much as $43.6 million. The lawsuit over the Audi S5 was dismissed without prejudice; we don’t know its final outcome, but a settlement is likely.
Clinton Portis dumb ass is gonna end up in prison because all of the money he owes to people hahahahahahahahahahahahaha. I know he has no money to pay these people. He better watch himself because it's possible he could get killed because people don't play when it comes to money you owe them.
http://a.espncdn.com/photo/2015/0728...r__576x324.jpg
The story of Vin Baker can be seen as a sad one: A former big man for the Milwaukee Bucks, Seattle SuperSonics and other teams -- he of four straight All-Star appearances and one 20-and-10 season -- fell into alcoholism and ended up losing nearly $100 million.
But that story is far from over, and it's taken a significant and positive turn.
As profiled by the Providence Journal, the 43-year-old Connecticut native is now living in North Kingstown, Rhode Island, and training to be a manager at the Starbucks for which he works.
"In this company, there are opportunities for everyone," the 6-foot-11 Baker told the paper. "I have an excellent situation here at Starbucks, and the people are wonderful."
As for the people who view his story as tragic, Baker was quick to downplay that notion. He isn't running away from it, either; he wants people to learn from his mistakes.
"When you learn lessons in life, no matter what level you're at financially, the important part to realize is it could happen," he told the Journal. "I was an alcoholic. I lost a fortune. I had a great talent and lost it. For the people on the outside looking in, they're like, 'Wow.'
"For me, I'm 43, and I have four kids. I have to pick up the pieces. I'm a father. I'm a minister in my father's church. I have to take the story and show that you can bounce back. If I use my notoriety in the right way, most people will appreciate that this guy is just trying to bounce back in his life."
I'm glad to hear Vin Baker is doing alright financially and he turned his life around. He was a good NBA player for Milwaukee and Seattle. He lives in Rhode Island? LOL. I know there aren't a lot of blacks there.
http://ll-media.tmz.com/2015/06/16/0...wens-tmz-4.jpg T.O. and his San Fernando Valley house are parting ways one way or another -- either he's gonna unload it, or his bank is gonna snatch it so they can sell it.
According to recently filed documents, Owens is in default -- the first step toward foreclosure -- on the 4,250 sq. ft. home, and still owes $905,417.06 on the place.
Owens and his estranged wife, Rachel Snider, bought it in January 2014 for around $2.2 million. The exes put it on the market in June for a little more than the purchase price, but so far ... no takers.
T.O. tells us he stopped paying the mortgage since he's selling, and the bank gave him an extension to give him time to get a deal done. Indeed, the docs say he's got 90 days.
He made a ton of clutch scores during his career -- it's time for one more.
http://ll-media.tmz.com/2015/08/06/0...s-themls-3.jpg
I'm not surprised hahahahahahahahahahahahahahahaha.
--- Ex-Olympian reveals she's living in bug-infested trailer, broke and unemployed
http://l.yimg.com/bt/api/res/1.2/I5n...f8537c85a20232
Debi Thomas' life isn't what it used to be.
The former Olympic figure skater and physician made history when she became the first African-American athlete to win a Winter Games medal when she took home the bronze at the 1988 Olympics. She recently revealed she is now broke, unemployed and living in a bed bug-infested trailer.
"(I feel) frustrated," Thomas said in the emotional episode of "Iyanla: Fix My Life" that aired Saturday on the Oprah Winfrey Network.
Thomas turned to life coach Iyanla Vanzant after "crippling life challenges" that stemmed from a pair of divorces that financially drained her and forced her to close her medical practice in Virginia. The two-time U.S. national champion is now living in a mobile home in the Appalachian Mountains with her fiancé and his two children. She lost custody of her 13-year-old son.
"Today I meet you in a trailer that’s overcrowded and infested with bed bugs," Vanzant told Thomas in a preview clip. "Are you aware that your life has become unmanageable?"
Thomas started a GoFundMe page in December 2014 with the hopes of raising $10,000, though she managed to collect only $3,763. She additionally laid out a number of prospective projects, one of which included starring in her own reality TV show, to help reach her donation goal.
"This cause has been developed as an emergency fund for Dr. Debi Thomas, her fiancé, Jamie Looney, and their family to restore financial stability after severe sudden financial losses over the past couple of years associated with a combination of financially crippling life challenges," the page read. "This assistance will help cover expenses while they complete their promising projects currently in the works."
Thomas, 48, had earned her medical degree after graduating from Stanford University in 1991 and went on to become an orthopedic surgeon. She claimed her personality clashes led to two lost jobs before she decided to open her own private practice, which she eventually shut down.
Wow that's sad to hear that about her. I hope her life gets better financially.
According to bankruptcy filings, the exact amount that he owes to various creditors is $4,857,659.50.
The filing lists the creditors holding the 20 largest unsecured claims against Porits. Some of the more notable debts:
- $500,000 to Entertainment Tonight correspondent and CNN contributor Nischelle Turner
- $390,000 in back taxes
- $170,000 to the Borgata casino in Atlantic City
- $287,178.56 to the MGM Grand
- A combined $1,223,020 in mortgage deficiencies
- $500,000 to his mother
- $412,000 in unpaid domestic support to four different women
- $65,553 on a repossessed BMW
- $899.09 in unpaid telephone bills
The filings also include Portis’s average monthly income. He receives $3,500 per month in disability payments from the NFL, and $1,000 per month for freelance sideline reporting at NFL games.
Here’s the list of creditors:
https://i.kinja-img.com/gawker-media...ro0hhptlvy.png
Quote:
Originally Posted by IronSheik
Clinton Portis is going to prison because he don't have no money to pay the creditors he owes hahahahahahahahahahahaha. He might as well start planning to be sitting in a prison cell LOL.
Can he play anymore football?
He got a job with the Redskins as a broadcaster but it probably don't pay enough for him to pay the creditors he owes.
Debi Thomas talks about her life after being bankrupt and living in a trailer
https://www.washingtonpost.com/local...561_story.html
It's very rare that you hear about women athletes being broke because it's usually the black men athletes that end up broke LOL.
--- Christian Laettner faces possible bankruptcy
https://michaeljlewis.files.wordpres...1422656224.jpg
http://www.dukebasketballreport.com/...egend-laettner
Wow that's sad. Does he have a job as a college basketball broadcaster or does he work for Duke university basketball team?
He made 62 million and he's broke?
http://l.yimg.com/ny/api/res/1.2/ubo...ad1f522adf752b
Darius Miles entered the NBA in 2000 with a $2.8 million starting salary, a cover appearance on Sports Illustrated’s NBA preview issue, and by the time his rookie season had ended he was the mainstay in a major shoe corporation’s ubiquitous television advertisement.
Some 16 years later, and nearly eight years after playing his final NBA game, Miles is declaring for bankruptcy. The 34-year old made nearly $62 million in his star-crossed NBA career, but his off-court debts appear to have overwhelmed him.
From Beth Hundsdorfer and George Pawlaczyk at the Belleville News-Democrat (via Pro Basketball Talk):
“Miles listed $460,385 in assets and $1.57 million in liabilities.
[…]
“Miles listed a $20,000 child support debt in his bankruptcy. He lost more than $100,000 in 2008 in a California real estate deal. Another real estate deal — with fellow investors former NFL Rams player Marshall Faulk and rapper Nelly — was mired in lawsuits over a Laclede’s Landing property. Newspaper stories wrote about Miles rewarding himself with diamond jewelry.”
[…]
“Miles listed a $282,041 debt to the Internal Revenue Service. He also said that most of his debts aren’t consumer debts, but business debts. Miles owns a single-family home in Belleville with a value of $241,000. His car is a 2011 Chevrolet Camaro, valued at $20,000.
“In addition to his Belleville home, he listed 12 other properties he owns, all in East St. Louis. He has a Deutsche Bank account with $49,000 and his son’s college fund with $84,900. He also listed ownership of various collectibles with unknown value, including trophies and signed jerseys, and jewelry.”
[…]
“Miles and his bankruptcy attorney, Robert Eggmann, declined to comment when contacted this week.”
In addition to Darius’ shoe endorsements, the former Clipper, Cavalier, Trail Blazer and Grizzly also appeared as an actor in two movies, alongside Scarlett Johansson in ‘The Perfect Score,’ and Ryan Reynolds in ‘Van Wilder.’
Though Miles showed promise enough to be selected No. 3 overall in 2000, coming straight out of high school, he failed to develop upon his significant two-way gifts. The 6-9 combo forward seemed well on his way toward stardom during his rookie year while averaging 9.4 points, 5.9 rebounds, and 1.5 blocks per game in just 27 minutes a contest at only age 19, but he struggled to extend his shooting range, ball-handling ability, and to develop a go-to move.
Traded from the Los Angeles Clippers to Cleveland in 2002, Miles spent half of one season alongside rookie LeBron James with the Cavaliers in 2003-04 prior to being dealt to Portland midseason. Though his talents (especially at age 22) were still respected league-wide, the Blazers bid against themselves in the 2004 offseason in handing the lithe forward a six-year, $48 million deal.
Miles clashed with then-coach Maurice Cheeks in Portland, finding himself in and out of the starting lineup for a Blazers team still reeling from the fallout of the Jail Blazers era. Though he amazed by scoring 47 points off the bench for PDX against a very good Denver Nuggets team in 2005 …
… he failed to live up to his massive free agent deal – all the hallmarks of his athletic entry in the league (rebound and block rate) dwindled even in his early-to-mid 20s. Worse, while averaging a career-best 14 points per game in 2005-06, Miles suffered a right knee injury that would lead to microfracture surgery, and an attempt from the Blazers to save salary cap space in pushing Darius into retirement.
Miles would receive the remainder of his contract (including $9 million in 2009-10), but he fought for a return and cost the Blazers salary cap room as a result. A short (and dubious, on Memphis’ end) stint with the Grizzlies in 2008-09 only lasted 34 games, and a training camp invite in 2010 from Charlotte marked the end of Miles’ NBA stay.
NBAPA vice president Adonal Foyle, quoted in the Belleville News-Democrat piece, pointed out that sixty percent of ex-NBA players file for bankruptcy within five years of their retirement.
These athletes are dumb as fuck and get trapped by women and their hang on male groupies. Suck shit to them.
True hahahahahahahahahahahahahahahahahaha. They also be buying stuff for their poor black men friends who don't have jobs LOL. Former NBA player Antoine Walker talked about buying his poor black men friends food at restaurants and paying for their airplane tickets to come see his games LOL.
Darius Miles used to play for my hometown Cleveland Cavs and he sucked LOL. I see former NBA player Maurice Cheeks in the picture with him when Darius played for Portland. Maurice is a assistant coach with Oklahoma.