Friday, March 7, 2008
Story taken from newsday.com
SPREWELL IN FINANCIAL TROUBLE. Former NBA star Latrell Sprewell's home is up for foreclosure and his yacht was 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, saying, "I've got my family to feed," has apparently fallen on tough times. Citizens Bank filed a foreclosure suit last week in Milwaukee County for the $405,000 home Sprewell bought in 1994. Court documents claimed he owed $295,138 in outstanding payments plus interest.
Sprewell, 37, hasn't played pro basketball since turning down the $21-million extension from the Timberwolves during the 2004-05 season. He was making $14.6 million at the time.