OT: Christian Laettner in bankruptcy proceeding...

[cto]

How the mighty have fallen ...

Creditors Try to Force Former Basketball Star Christian Laettner Into Bankruptcy

 

[bballbeadle]

Awwwwww. I hate that. I guess being smart in college doesn't translate to being smart with money. $14 million??! That would buy a lot of potato salad.

 

[Flacusian]

How the mighty have fallen ...

Creditors Try to Force Former Basketball Star Christian Laettner Into Bankruptcy

Here's a non subscription link to the story:
Christian Laettner allegedly owes creditors $14 million; lawsuit filed in N.C.

Another example of how athletes so often end up with financial problems of epic proportions. When this is seen through the prism of 19 year old one and dones who find their way to the NBA and big time money they are also faced with finding a way to manage their financial affairs while having a cadre of carrion eating opportunists swooping down in convincing fashion to grab a piece of the pie it is particularly telling.

Apparently a Duke education didn't help Christian avoid the pitfalls of entering into bad business deals.

 

[Rage4CUSE]

Popcorn

There can only be Good stuff in this thread.

 

[Toga]

"Primarily business debt". Unclear (to me) if he is personally protected from this.

 

[Deano]

Hate to say this but -

 

[MSOrange]

The business world is tough. You think things are going well and then all of the sudden, you're down on the ground and people are stomping on your chest.

 

[Deano]

The business world is tough. You think things are going well and then all of the sudden, you're down on the ground people are stomping on your chest.

I see what you did there...nice!

 

[jncuse]

Justice

 

[CaptainJ]

Being it's the Fourth, no biggie. In 1933 our nation declared bankruptcy, under executive orders from 6073, 6102, 6111 and 6260 from FDR. Of course you all knew that.

But yeah...justice...for the foot stomp vs Kentucky or something. And somewhere Jalen Rose might be smiling.

 

[retro44]

I guess he took advantage of other pro athletes. Been sued before this latest deal. Merriman won a 4 mil. judgment against him a few years back. Brian Davis was his partner in this deal.

 

[Briancuse]

Hate to say this but -

You beat me to it, I would say I feel sorry for him, but then I would be lying

 

[kirbivore]

I guess he took advantage of other pro athletes. Been sued before this latest deal. Merriman won a 4 mil. judgment against him a few years back. Brian Davis was his partner in this deal.

also been rumored to be a partner in other areas too...not that there's anything wrong with that