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View Full Version : One reason Spree couldnt feed his kids


EricaLubarsky
08-22-2007, 10:48 AM
Sprewell yacht repossessed

Former NBA star has defaulted on mortgage loan, bank says

Milwaukee Journal Sentinel -

Former professional basketball star Latrell Sprewell, who three years ago rejected a $21 million contract offer, calling it insulting and saying he had a family to feed, had his 70-foot, $1.5 million, Italian-built yacht repossessed Tuesday.

Armed with an order from U.S. Magistrate Judge William E. Callahan Jr., a federal marshal seized the vessel in Manitowoc, where it sat in storage.

Callahan is presiding in a court case filed by a New York bank that claims the yacht's owner, a company run by Sprewell, 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 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. Sprewell has guaranteed the loan personally, a contract filed with the court shows. He could not be reached for comment on the repossession.

EricaLubarsky
08-22-2007, 01:54 PM
http://img209.imageshack.us/img209/6414/redneckcruisebh8.jpg
Spree now lives in his houseboat floating down the St. Croix river

alby
08-22-2007, 02:08 PM
I wonder if he can still play

EricaLubarsky
08-22-2007, 02:09 PM
I wonder if he can still play
Sources say that Spree thinks he can help the Magic

untitled
08-22-2007, 02:11 PM
http://img.photobucket.com/albums/v200/i_c_the_light/OT/Yacht-fail.jpg

alby
08-22-2007, 02:13 PM
with all these has-beens signing or wanting to make a comeback, Spree's name is bound to come up

AxdemxO
08-22-2007, 02:57 PM
He can still play..I am sure...I mean he averaged like 18 a game...but its his attitude

I sa we just wait another year or w/e it is and just sign Fin. again

alby
08-22-2007, 04:06 PM
He can still play..I am sure...I mean he averaged like 18 a game...but its his attitude

I sa we just wait another year or w/e it is and just sign Fin. again

Fin would only want to sign with contenders though

ha ha just kidding

Dallas is legitimate, definitely a top 10 team in the NBA

bobatundi
08-22-2007, 06:22 PM
I think I'm going to name my yacht "Busch Light"

Silk Smoov
08-22-2007, 06:25 PM
Sources say that Spree thinks he can help the Magic

LMAO..You stop that !!!!!!

I heard the source was "Jack.Kerr" of the Dallas Mavs forum. :D :D :D :D

alby
08-22-2007, 06:26 PM
he could be a pretty good 6th man off the bench for the Magic if he is somewhere close to where he was a couple years ago.

MavsX
08-22-2007, 10:03 PM
Sprewell yacht repossessed

Former NBA star has defaulted on mortgage loan, bank says

Milwaukee Journal Sentinel -

Former professional basketball star Latrell Sprewell, who three years ago rejected a $21 million contract offer, calling it insulting and saying he had a family to feed, had his 70-foot, $1.5 million, Italian-built yacht repossessed Tuesday.

Armed with an order from U.S. Magistrate Judge William E. Callahan Jr., a federal marshal seized the vessel in Manitowoc, where it sat in storage.

Callahan is presiding in a court case filed by a New York bank that claims the yacht's owner, a company run by Sprewell, 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 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. Sprewell has guaranteed the loan personally, a contract filed with the court shows. He could not be reached for comment on the repossession.


damn you! you stole my idea. Even though you posted your thread like 3 hours before mine...you're making me look like a dumbass! Damn you!

EricaLubarsky
02-12-2008, 12:59 AM
Sprewell's Yacht Sells At Auction, House Could Be Foreclosed
February 11, 2008 - 7:35 pm
MSNBC -
Latrell Sprewell's yacht sold at auction on Monday and his home could be foreclosed in order to pay the $1.3 million he owes on the yacht.

In court documents, the bank said Sprewell owed $295,138 in outstanding payments plus interest on his house.

Sprewell failed to make his mortgage payments of $2,593 per month from September 2007 to January 2008, the documents said.

Dirkadirkastan
02-12-2008, 01:10 AM
http://newsblogs.chicagotribune.com/news_theswamp/images/ap_bush_naacp.jpg

He's working hard to put food on his family.

bernardos70
02-12-2008, 02:07 AM
It boggles the mind. I hope he dies of the Bubonic Plague or Anton Chigurh.

DelNegro
02-12-2008, 08:03 AM
Poor Spree. I guess $100 million just doesn't go as far as it used to.

DevinHarriswillstart
02-12-2008, 11:51 AM
Lets just hope Randy Galloway doesn't have to go bail him out of jail.

MavsX
02-12-2008, 01:52 PM
ididot.

skylive321
02-12-2008, 04:12 PM
I heard he had harsh words for the last team that approached him to come back and play.

horse900703
02-12-2008, 04:14 PM
Ha, nice picture

fluid.forty.one
02-12-2008, 04:17 PM
Milwaukee's Best hahahah

horse900703
02-12-2008, 04:20 PM
Milwaukee's Best hahahah
Only Milwaukee player i like is YI

fluid.forty.one
02-12-2008, 04:32 PM
Only Milwaukee player i like is YI

....


lol

horse900703
02-12-2008, 04:36 PM
....


lol
y? u dont?

MavsX
02-12-2008, 04:40 PM
y? u dont?

Yi sucks..just like yao

horse900703
02-12-2008, 04:46 PM
Yi sucks..just like yao
alright, u really dont know any thing about NBA!!!!

MavsX
02-12-2008, 05:51 PM
alright, u really dont know any thing about NBA!!!!


yeah okay. Like i give a rats ass about yao...or Yi..or you.

you see that!?? Alliteration. boo ya.

LSMF
02-12-2008, 06:08 PM
He can still play..I am sure...I mean he averaged like 18 a game...but its his attitude

I sa we just wait another year or w/e it is and just sign Fin. again

Why would you want fin again? I mean i really like the dude but don't we already have devean george, eddie jones,JET, j-ho, stack all jacking up threes?

adirktotheheart
02-12-2008, 07:57 PM
Sources say that Spree thinks he can help the Magic

That source was probably Spree's bankruptcy trustee.