Remember Duke's Christian Laettner? Yep he's now broke, 14 mil in debt

[SP33Demon]

About to file Chapter 7 bankruptcy.
http://newyork.cbslocal.com/2016/07/06/christian-laettner-bankruptcy-duke/

The News & Observer reported Laettner owes $14 million to five creditors and that they have started involuntary bankruptcy proceedings against him.

Two of those creditors include former NFL linebacker Ernest Sims and Carolina Panthers running back Jonathan Stewart. Stewart is reportedly owed $3.6 million, while Sims is owed nearly $1.5 million.
...
This was not the first time Laettner was sued by professional athletes. Basketball Hall of Famer Scottie Pippen and others reportedly sued Laettner for $30 million. Former NFL linebacker Shawne Merriman also had to take Laettner to court for money he loaned him. According to ESPN, Laettner’s real estate firm had to pay $3.7 million back to Merriman and $2.5 million back to Pippen.

Laettner was served foreclosure papers on his multi-million dollar mansion in Ponte Vedra Beach, Florida, last year.

Laettner earned more than $61 million during his NBA career.

61mil earned and the guy is 14 mil in debt. Even worse, he had to ask his buddies for loans. smh

 

[Elixer]

I could use a few million... which of my AT friends can loan me a few million?

 

[Captante]

Sympathy not found.

 

[Spacehead]

Sounds like there are even more people saying "I Hate Christian Laettner".

 

[holden j caufield]

Why would an NFL player loan an NBA player money? Laettner seems like a white pompous douche. Did he have some investment firm like Lenny Dykstra that stole money from their investors? I don't care how rich these guys are, you don't just loan another guy 1-5 million.

 

[SP33Demon]

Why would an NFL player loan an NBA player money? Laettner seems like a white pompous douche. Did he have some investment firm like Lenny Dykstra that stole money from their investors? I don't care how rich these guys are, you don't just loan another guy 1-5 million.

I think Laettner had ties to some of them via Carolina since he's well known in that area.

 

[zinfamous]

Man, that dude has been generally hated most of his public life. I watched an ESPN or Netflix documentary on him a year or two ago (remember that dude playing on those Duke teams and then the first Dream Team as "the rookie.") and he seemed a bit more humble than expected, but fully embraced the villain that he created.

 

[zinfamous]

I think Laettner had ties to some of them via Carolina since he's well known in that area.

oh no, they would not like a Dukie.

 

[zinfamous]

Why would an NFL player loan an NBA player money? Laettner seems like a white pompous douche. Did he have some investment firm like Lenny Dykstra that stole money from their investors? I don't care how rich these guys are, you don't just loan another guy 1-5 million.

Looks like they were investing in his real estate firm or some other bullshit scheme that he suckered them into.

Pippen sued him for $30 million? lol

I don't think loan is the right word when you have this many people and this much money--they were probably just trying to invest in some terrible scheme(s) of his.

 

[Childs]

Man, that dude has been generally hated most of his public life. I watched an ESPN or Netflix documentary on him a year or two ago (remember that dude playing on those Duke teams and then the first Dream Team as "the rookie.") and he seemed a bit more humble than expected, but fully embraced the villain that he created.

They picked him over Shaq, as well as Jim Jackson, Alonzo Mourning and Harold Miner. I remember at the time everyone was like WTF, but I guess it was like a lifetime achievement award for beating UNLV back to back titles.

 

[brianmanahan]

I could use a few million... which of my AT friends can loan me a few million?

i nominate madoka :awe:

 

[Ns1]

Why do athletes always try to get involved in real estate?

Under bankruptcy-court rules, Mr. Laettner has 21 days to respond to the involuntary petition.

His lawyer, Hassan Zavareei, said the involuntary bankruptcy is related to the West Village real estate development in Durham, N.C., a downtown project that dwindled during the economic recession. The involuntary petition stems from two creditors who are fighting to recover money from the project and that Mr. Laettner plans to negotiate a deal that will lead the chapter 7 filing to be dismissed, he said.

Court documents show that Laettner and Davis individually and their real-estate businesses are defendants in several civil lawsuits seeking repayment of loans worth about $30 million. The plaintiffs include sports celebrities like ex-Chicago Bull Scottie Pippen, who played with Laettner on the 1992 Olympic team. In August 2010, a state court judge in Lake County, Ill., ordered Laettner and Davis to repay Pippen $2.5 million. Through his attorney, Pippen said he had been paid half that amount and that litigation between the parties continues.

"What they have done isn't honest—I feel cheated," said Shawne Merriman, the three-time All-Pro Buffalo Bills linebacker who had lent money to the real-estate ventures of Laettner and Davis, which operated under a multitude of names.

http://www.wsj.com/articles/SB10001424052970204603004577269920969246672

 

[SP33Demon]

oh no, they would not like a Dukie.

Duke's in Carolina last I checked. Plus JStew and Sims are current and former Panthers.

 

[zinfamous]

Duke's in Carolina last I checked. Plus JStew and Sims are current and former Panthers.

There is no such "in Carolina" There are two states: One is North Carolina, the other is South Carolina.

I am from the less-inbred of those two states. Christian Laettner went to Duke. Yeah, I know as athletes they just hang out together and do their own club thing, but working together like that in Durham (a Duke alum with a hated Carolina alum) is not a good business partnership. It is the best rivalry in the country and those people take that shit seriously down there.

Carolina Panthers have nothing to do with that, though. It is a wholly, how can I say this? "Not really North Carolina thing." They are sort of interlopers borrowing a pretend name.

"Carolina" = UNC. It refers to nothing else. It certainly doesn't refer to an existing state.

 

[Ns1]

I am from the less-inbred of those two states.

well, at least you're honest about where you're from.

 

[Miramonti]

Sounds like he ran out of money quite a long time ago.