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.
