Latrell Spreewell Broke

Discussion in 'The Howard Stern Show' started by Ba Ba Boolio, Oct 6, 2015.

  1. Ba Ba Boolio

    Ba Ba Boolio VIP Extreme Gold

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    Latrell Sprewell Made Over $100 Million But Now Has No House, No Family
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    By Robert Stitt

    It’s often been said that you don’t bite the hand that feeds you. Most of us might carry that into not choking the person whose hand feeds you as well. Latrell Sprewell did not make that leap in logic. Recently, that error and other lapses in judgement have taken him down a dark road.

    In 1992, Latrell Sprewell was a first round NBA draft pick by the Golden State Warriors, the 24th player to be selected that year. During his time with the Warriors, he set records, made the All-Star team three times, and led Golden State to the playoffs in 1994. He also showed his hot temper. In 1993, he fought with teammate Byron Houston and in 1995 after a rumble with Jerome Kersey, he famously returned to practice with a 2×4 and threatened to get a gun.

    Despite his many on-court accomplishments, December 1, 1997 was the day for which most remember Sprewell. Warriors head coach P.J. Carlesimo corrected Sprewell on his passing. Sprewell had words with the coach and told him to stay away. As reported in Celebrity NetWorth, when the coach approached him, “Sprewell threatened to kill him and dragged him backwards by his throat, choking him for nearly ten seconds before other teammates and coaches intervened. About 20 minutes later, after showering and changing, Sprewell came back to the court and attacked Carlesimo again, landing a glancing blow on the coach’s cheek prior to being restrained.”

    Sprewell had his $24 million contract voided and was let go by the Warriors. Through arbitration, his contract was reinstated but he was suspended for the season. His off the court behavior did not improve during his suspension as he injured two people during a high speed accident. He was fined and placed under house arrest for three months.

    Two years later, in 1999, Sprewell was traded to the New York Knicks. The fact that he could get into so much trouble and still have a career in the NBA is a testament to his enormous talent.

    The Knicks reached the NBA finals the next year, and for his part in the effort, Sprewell was given a 5-year $62 million contract. In 2004, he was traded to the Minnesota Timberwolves where he joined NBA superstars Kevin Garnett and Sam Cassell. The trio became the highest scoring group in the NBA. That same year, the Timberwolves won their division and nearly won the Western Conference.

    The Timberwolves were happy with Sprewell, but he did not have the same sentiments. When offered a $14.6 million extension that would have earned him $27-30 million over the next couple of years and kept him playing ball, Sprewell made the statement that became almost as famous as his coach-choking incident. When asked about turning down the contract extension, Sprewell said, “Why would I want to help them win a title? They’re not doing anything for me. I’m at risk. I have a lot of risk here. I got my family to feed.”

    Sprewell played one more year for Minnesota without the contract extension, and played miserably. Still thinking higher of himself than the teams or coaches he negotiated with, he was never again able to agree on a salary and has not played professional ball since. So, some might say that his negative attitude caught up with him, because no NBA team wants to sign an angry old man whose best days are behind him.

    More trouble with the law off the court meant more legal fees for the one-time star.

    In 2007, Sprewell left that “family he had to feed” and was sued for $200 million. That year, his yacht was repossessed, he defaulted on his $1.5 million mortgage and Milwaukee went after him for $3 million in back taxes. Two years later he lost his other mansion.

    During the course of his career, Latrell Sprewell made over $100 million. Today, Celebrity NetWorth reports that he has around $50,000 and lives in a modest rental.

    While he left the family, the courts say he still has to find a way to feed them. Sprewell’s story might be a lesson on the importance of understanding humility, prudence, and financial literacy. If he’d had better advisors, he might not be broke today.
     
  2. Ba Ba Boolio

    Ba Ba Boolio VIP Extreme Gold

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    Couldn't happen to a nicer guy...
     
  3. jake206

    jake206 Well-Known Member

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    All this time, he should have choked his financial coach instead of his head coach.
     
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  4. yaddc

    yaddc Well-Known Member

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    Easy come easy go when I had it every body had it. Lol
     
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  5. Shadoe Stevens

    Shadoe Stevens Well-Known Member

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    That bully PJ Carlesimo should help him out now. Maybe, rent him a room or something?
     
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  6. yaddc

    yaddc Well-Known Member

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    Like the gentleman posted could not happen to a better guy.
     
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  7. johnfreeman1

    johnfreeman1 Well-Known Member

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    He was a great player, but obviously a dick
     
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  8. zutroy

    zutroy Totally nude. Totally flawless.

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  9. UpInSmoke123

    UpInSmoke123 Well-Known Member

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    This happens as often as not to black athletes. They don't have any history of wealth or financial responsibility in their families, so they don't know how to handle it. They give money away, purchase mansions, diamonds chains, 10 Ferraris, they financially support all of their worthless friends, finance insane business ventures, faile to understand taxes, etc. Combine this with the fact that their earning potential tanks around 30 (if they're lucky) and it's not a big surprise.
     
  10. LaserT

    LaserT You have to have fun. Gold

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    Now he can join Warren Sapp...



    [​IMG]
     
  11. Ganggreen87

    Ganggreen87 Well-Known Member

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    Well the Regan theory of trickle down economics sure is explemfied like a spigot for black athletes.
     
  12. DarkFriday

    DarkFriday Fired as a MOD...Twice. Gold

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    Good.
    Fuck him.
     
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  13. Ralph Kramden

    Ralph Kramden Active Member

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    It came easy and it went just as fast!
     
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  14. eliasbboy

    eliasbboy Insert Witty Title Here Staff Member

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  15. Abner Devereaux

    Abner Devereaux Well-Known Member

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    not surprised.
     
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  16. yaddc

    yaddc Well-Known Member

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    Chef of the future lol yea it can core an apple.
     
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  17. Rob0729

    Rob0729 Well-Known Member

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    Sure after agents, taxes, etc. he probably made $30-40 million, but anyone with half a brain and some self control can live like king for the rest of his life on that type of money. I never understood athletes who made this type of money ever go bankrupt. I know they spend like the money will come in forever. But instead of that $20 million home, private jets everywhere, $500k cars, etc. Why not get a $10 million home, fly first class, and get a $200k car? Is that too much of a hardship especially when half these guys come from nothing?
     
  18. ScottBaiosPenis

    ScottBaiosPenis Well-Known Member

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    if only there was some sort of catchy phrase to describe this phenomenon....oh well
     
  19. Bubbleguts420

    Bubbleguts420 2 word review, shit sandwich

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    There was video of him bouncing/working the door at a club in Minnesota. I can't find it now tho.
     
  20. PI Nate

    PI Nate Disenfranchised since 1984... Gold

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