MILWAUKEE (AP) — A federal marshal has seized a $1.5 million dollar yacht that belonged to former NBA star Latrell Sprewell after he defaulted on the mortgage.
Sprewell, 36, played 13 NBA seasons and was a four-time NBA All-Star. The Milwaukee native has not played professional basketball since turning down a three-year, $21 million extension from the Minnesota Timberwolves during the 2004-05 season.
The marshal acted on a court order requested by a New York bank that plans to sell the boat to pay off $1.3 million it says Sprewell owes on the mortgage. Sprewell's firm, LSF Marine Holdings, hasn't made its $10,322 monthly payments on time or maintained the necessary insurance on the boat, according to North Fork Bank.
The marshal seized the boat in Manitowoc, where it was in storage. Sprewell could not be reached for comment on the repossession.
The 70-foot "Milwaukee's Best" was built in 2001 by the Italian firm Azimut-Benetti, which specializes in so-called megayachts. Court documents show Sprewell bought the boat in 2003.
He had to have it freed by tugboat last summer after it ran aground near Atwater Beach, just north of Milwaukee. Sprewell owns a home in River Hills, a suburb about 20 minutes north of the city.
that's what his *** gets! should've stayed with the team!
Someones getting choked!
He would have chocked the S/H/I/T out of the repo. man!
Why have an expensive azz boat if your paper ain't coming in like it used to? I hope he invested his money when he was playing!
WHY WOULD YOU DO THAT AND U KNOW U GOT DEBT BEHING U NOW WAKE UP AND SMELL THE COFFEE
*** SPREE..PAY UP AND STOP SPECIALIZING IN SO CALLED ME-***-ACHTS BEYATCH..LOL
All bad.. with his fine a$$
Maybe the next time he is offered money he will take it and not be soooooooo stupid.
unemployed floyd!lol... 10,000 a month for a boat?! wtf...1 million behind on yo' house note?!i don't get it! by the way is that a buldge i see lol
i se to have fantasies about him *** me on a yacht.....so much for that...
Turned down 21 mill at 35....what was HE thinking....bet he never thought this day would come...
is it too late for him to try to re-negotiate that contract?
he is about as stupid as Michael Vick
turning down all that money
and VIck dumb azz throwing away all that money
Um whose gonna help this brother out,now that everybody knows????Exactly....
Does Sprewell even play basketball.
why did he turn down the contract?
foxyloxy2000--no other team wanted him after his physical violence with his coach....and they still offered him 21 mill....other coaches didnt want to risk a choaking (I guess)....hes been inactive for a few years now...
mzarrogance--He turned it down because he thought he could get a better offer...none came.....he had the rims (I believe shoes too--not sure)and a basketball contract...he never thought he would fall off....
Remember he's the one who said the coach called him a Ni^^er...
to floss and be da boss you gotta pay the cost, i guess he can't. maybe he should have choked the repo man like he did his coach that time.
It doesn't matter Spree!!! I don't need a boat anyway. I still love you.
Big freakin' deal, who cares about credit anyway...LOL!
Check out my man @ http://www.myspace.com/suffadonthedonofthed istrict
Still at his age (even though it isn't old in real world) in the sports world he's close to retirement. I would've taken the money they were offering spent 2 years rebuilding my image and then began to peruse other options.
He probably didn't pay so they would come get it. They repoed it, so he didnt have to take it to them or pay any costs associated with its transport. When they sell it ... he won't owe much so it's a done deal. he probably figured out it was more of a hassle once he got it ...
He should've done like black folks usually do when they can't pay for it ---hide it. I would've either sent it overseas or put it on a lot and shrink wrapped it.
LOL! @HardCore HIDE IT!!
STOP TAKING LAVISH TRIPS WITH QUEENS OF THE *** & THEN MAYBE YOU COULD AFFORD TO PAY UP BROTHER....AND WHO DO YOU REALLY THINK YOU ARE, THAT YOU COULD PASS UP 21 MILL....PASS ME THE MOTHERFUC*ING BALL
well ***!!! i thought he was still playing professionally!! see, that goes to show how much i keep up with athletes and sports and *** like that!! but now that i know, what a damned fool!! as soon as he turned that deal down, he should have turned that damned yacht back in with the quickness!! and for real, black folks don't do yachts!! we've had enough of *** boats!! LOL
!!! Leave it MTO to give people another reason to clown this fool!!
I don't know what they are doing with their money
His azz was in the media for choking some caucasian companion a yr. or two ago on the same yacht. He dayum shoulda took the $21 mil. Big dummy. Better blow that *** out!
Another idiot over spender, I met his dude in LA long time ago. Somehow I knew this would happen one day.
*** fool tryn give 15 dollar sneakers out now he cant aford to buy them jk If he is kind hearted the Lord will provide for him
"latrell said "I have a family to feed" when he turned down that 21 million dollar offer. Its hurting me to write how much he turned down LOL!!
I know everybody that had his back telling him to not take the offer, and telling him he was worth more than that is nowhere in sight now that he doesn't play in the NBA anymore, and rolling in dough. Why are these black rich professinal ball players being so stupid? Just use the talent god gave you and live an honest life, is that so hard!