: 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.
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...
well damn!!! i thought he was still playing professionally!! see, that goes to show how much i keep up with athletes and sports and shyt 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 phucking boats!! LOL !!! Leave it MTO to give people another reason to clown this fool!!
"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!
