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Sprewell's yacht repossessed
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lovespree
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8/22/2007  1:40 PM
Sprewell's yacht repossessed


Former basketball star Latrell Sprewell, who famously rejected a $21-million contract offer three years ago, calling it insulting and saying he had a family to feed, had his 70-foot yacht repossessed Tuesday.

Armed with an order from U.S. Magistrate Judge William E. Callahan Jr., a federal marshal seized the $1.5-million, Italian-built vessel in Manitowoc, Wisc., where it sat in storage, Milwaukee's Journal Sentinel reported. A New York bank is claiming the yacht's owner, a company run by Sprewell, 36, has defaulted on a mortgage loan.
The firm, LSF Marine Holdings, hasn't made monthly payments of $10,322 on time and hasn't maintained the necessary insurance on the 6-year-old vessel, North Fork Bank alleges. It wants the yacht, "Milwaukee's Best," sold to pay off the $1.3 million it says is remaining on the loan. Sprewell has guaranteed the loan personally, a contract filed with the court shows. He could not be reached for comment on the repossession, the newspaper reported.

Sprewell played 13 National Basketball Association seasons. He last appeared in 2004-'05 for the Minnesota Timberwolves and at the beginning of that season rejected a three-year, $21-million contract extension. In the midst of negotiations, Sprewell scoffed at the idea of playing out the season and then becoming a free agent.

"Why would I want to help them win a title?" he said. "They're not doing anything for me. I'm at risk. I have a lot of risk here. I got my family to feed. Anything could happen."

The four-time all-star played out the season but hasn't returned to the league.

----
I guess he really did need the money to feed his kids
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Allanfan20
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8/22/2007  1:44 PM
Idiot.
“Whenever I’m about to do something, I think ‘Would an idiot do that?’ and if they would, I do NOT do that thing.”- Dwight Schrute
Panos
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8/22/2007  2:48 PM
Moron.
BigC
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8/22/2007  2:53 PM
Oh man, the poor guy is just trying to feed his kids.


On a side note, is this the same yacht that Spree tried to punch some chick on?
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Bippity10
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8/22/2007  4:06 PM
Couldn't he have sold the boat and fed his kids?
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Nalod
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8/22/2007  4:07 PM
Them yachts eat alot more then them kids!!!
BasketballJones
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8/22/2007  6:02 PM
I'm devastated by this news. Spree without his yacht? Say it isn't so!
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TheGame
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8/22/2007  6:37 PM
Pride comes before the fall and this guy has let his pride get in the way of making wise decisions. He should have sucked it up and kept on playing even after rejecting the $21 mil offer, which IMO was a pretty fair offer at the time. He still could have been making $4-5 mil per year with another team and would still be playing. Instead, he is so prideful, he does not want to take the criticizism for his comments and so he is hiding in obscurity and now looks like he is running out of money.

[Edited by - thegame on 08-22-2007 7:25 PM]
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Panos
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8/22/2007  6:50 PM
f him
spoiled rotten
CDB
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8/22/2007  8:24 PM
"watch out from the repo man!"
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4949
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8/22/2007  8:36 PM
$10,000.00 a month! Holy ****! No wonder he's gone broke. What the hell do these idiots do with they're money? I mean, you'd think 'stash a few mil there, stash a few mil here and you'll eat for the rest of your life. Give me one mil and I'll make it last and grow for a lifetime. Screw the yacht!
I'll never trust this' team again.
playa2
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8/22/2007  9:32 PM
He probaly didn't want it anymore and stopped making payments.

He owns a very expensive car rims business. Mewell still got it going on




There is no better place in the world to see the most cutting-edge, tricked-out custom cars than Southern California. Just drive down Ventura or Van Nuys Boulevard in the Valley or pull into any of the mini-malls in Monterey Park or San Gabriel, and you’ll see the art of the custom car writ large. These rolling beauties encompass the ultimate end of automotive styling with rims and body packages that rival a Nancy Rubins sculpture for bolt-on complexity. Here in SoCal, a ride featuring only factory parts no longer cuts it.

One of the reasons for that is Latrell Sprewell, the NBA star and owner of Sprewell Motorsports, which is located on a nondescript section of San Gabriel Boulevard surrounded by minimarkets and Chinese restaurants. Perhaps best known for choking his then-coach P.J. Carlesimo in 1997, Spree has found new life as a player (now with the Minnesota Timberwolves) and as an entrepreneur.

Sprewell Motorsports is a family-owned and -run affair, with Latrell’s mother, Pamela, and older brother Terran running the ship while Spree is off playing hoops. (At press time, the Timberwolves were still alive in the NBA playoffs.) And the Sprewells have fitted it with all the accouterments you can expect from today’s high-end automotive shop: a waiting room with a big-screen TV, plush leather sofas, a well-used foosball table and a couple of video games, backed by walls and walls of rims and car parts and enough high-end Lamborghini, Mercedes-Benz and Cadillac customs to make even the most jaundiced automotive journalists salivate. The shop is staffed by a multicultural array of car-obsessed young men whose conversations tend to run like this:

“Do you want to buy a [Mercedes] twin-turbo CLK for real cheap?”

“How much?”

“120 grand.”

“Man, that’s too much.”






Pamela Sprewell, at 53, exudes a matriarchal charm that would make anyone feel at home while dropping 20 grand on rims, partly because she drives her own lowered black 2002 Mercedes-Benz S500 sitting on chrome dubs. Automobiles are a Sprewell family tradition, she tells me. Her father has owned an auto shop — “just basic auto repair, nothing fancy like this” — in Milwaukee for the past 53 years, and Spree is keeping on with the family tradition. She came out from Milwaukee last October to help at the shop. “We like to have a family environment here.”

Terran explains how Latrell came to purchase the shop in 1998 from Dazz Motorsports: “When Spree used to play for the Golden State Warriors, he would get his wheels done at Dazz. He knew there weren’t any shops in the San Gabriel Valley, and there was a lot of money in the area, so he just took it from there.”

The shop does everything from custom interior and body work to dropping suspensions, but its bread and butter is selling a mind-boggling variety of rims and tires. Sprewell features more than 100 brands, from low-end five-spokes to high-end chromed-out 22-inch Löwenharts. Spree even sells two signature models, one by Lexani and the other by BR9. And next year, he’s coming out with a full line of both high- and low-end Spree’s custom wheels and accessories. None of these should be confused with those ubiquitous “spinner” rims, which are known as Sprewells but were in fact invented by David Folkes of Dävin Wheels.
JAMES DOLAN on Isiah : He's a good friend of mine and of the organization and I will continue to solicit his views. He will always have strong ties to me and the team.
Killa4luv
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8/22/2007  10:21 PM
Spree is a full blown idiot. 3 years 21 mil for a 33 year old wing player who relies on athleticism? Very very fair offer. Shouldve stayed and Minny woulda been in the mix again. HIs selfishness ruined KGs shot, and his own stay in the league. No one gfave him money, he got what he deserved.
4949
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8/23/2007  4:52 AM
Posted by playa2:

He probaly didn't want it anymore and stopped making payments.

He owns a very expensive car rims business. Mewell still got it going on




There is no better place in the world to see the most cutting-edge, tricked-out custom cars than Southern California. Just drive down Ventura or Van Nuys Boulevard in the Valley or pull into any of the mini-malls in Monterey Park or San Gabriel, and you’ll see the art of the custom car writ large. These rolling beauties encompass the ultimate end of automotive styling with rims and body packages that rival a Nancy Rubins sculpture for bolt-on complexity. Here in SoCal, a ride featuring only factory parts no longer cuts it.

One of the reasons for that is Latrell Sprewell, the NBA star and owner of Sprewell Motorsports, which is located on a nondescript section of San Gabriel Boulevard surrounded by minimarkets and Chinese restaurants. Perhaps best known for choking his then-coach P.J. Carlesimo in 1997, Spree has found new life as a player (now with the Minnesota Timberwolves) and as an entrepreneur.

Sprewell Motorsports is a family-owned and -run affair, with Latrell’s mother, Pamela, and older brother Terran running the ship while Spree is off playing hoops. (At press time, the Timberwolves were still alive in the NBA playoffs.) And the Sprewells have fitted it with all the accouterments you can expect from today’s high-end automotive shop: a waiting room with a big-screen TV, plush leather sofas, a well-used foosball table and a couple of video games, backed by walls and walls of rims and car parts and enough high-end Lamborghini, Mercedes-Benz and Cadillac customs to make even the most jaundiced automotive journalists salivate. The shop is staffed by a multicultural array of car-obsessed young men whose conversations tend to run like this:

“Do you want to buy a [Mercedes] twin-turbo CLK for real cheap?”

“How much?”

“120 grand.”

“Man, that’s too much.”






Pamela Sprewell, at 53, exudes a matriarchal charm that would make anyone feel at home while dropping 20 grand on rims, partly because she drives her own lowered black 2002 Mercedes-Benz S500 sitting on chrome dubs. Automobiles are a Sprewell family tradition, she tells me. Her father has owned an auto shop — “just basic auto repair, nothing fancy like this” — in Milwaukee for the past 53 years, and Spree is keeping on with the family tradition. She came out from Milwaukee last October to help at the shop. “We like to have a family environment here.”

Terran explains how Latrell came to purchase the shop in 1998 from Dazz Motorsports: “When Spree used to play for the Golden State Warriors, he would get his wheels done at Dazz. He knew there weren’t any shops in the San Gabriel Valley, and there was a lot of money in the area, so he just took it from there.”

The shop does everything from custom interior and body work to dropping suspensions, but its bread and butter is selling a mind-boggling variety of rims and tires. Sprewell features more than 100 brands, from low-end five-spokes to high-end chromed-out 22-inch Löwenharts. Spree even sells two signature models, one by Lexani and the other by BR9. And next year, he’s coming out with a full line of both high- and low-end Spree’s custom wheels and accessories. None of these should be confused with those ubiquitous “spinner” rims, which are known as Sprewells but were in fact invented by David Folkes of Dävin Wheels.

This reminds me of that show 'the rich and famous' where we got to see how the rich people spend our' money. Glad I didn't give any.
I'll never trust this' team again.
Bobby
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8/23/2007  9:56 PM
now look what happens when you think you da wheel
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Nalod
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8/24/2007  9:13 AM
Posted by 4949:
Posted by playa2:

He probaly didn't want it anymore and stopped making payments.

He owns a very expensive car rims business. Mewell still got it going on




There is no better place in the world to see the most cutting-edge, tricked-out custom cars than Southern California. Just drive down Ventura or Van Nuys Boulevard in the Valley or pull into any of the mini-malls in Monterey Park or San Gabriel, and you’ll see the art of the custom car writ large. These rolling beauties encompass the ultimate end of automotive styling with rims and body packages that rival a Nancy Rubins sculpture for bolt-on complexity. Here in SoCal, a ride featuring only factory parts no longer cuts it.

One of the reasons for that is Latrell Sprewell, the NBA star and owner of Sprewell Motorsports, which is located on a nondescript section of San Gabriel Boulevard surrounded by minimarkets and Chinese restaurants. Perhaps best known for choking his then-coach P.J. Carlesimo in 1997, Spree has found new life as a player (now with the Minnesota Timberwolves) and as an entrepreneur.

Sprewell Motorsports is a family-owned and -run affair, with Latrell’s mother, Pamela, and older brother Terran running the ship while Spree is off playing hoops. (At press time, the Timberwolves were still alive in the NBA playoffs.) And the Sprewells have fitted it with all the accouterments you can expect from today’s high-end automotive shop: a waiting room with a big-screen TV, plush leather sofas, a well-used foosball table and a couple of video games, backed by walls and walls of rims and car parts and enough high-end Lamborghini, Mercedes-Benz and Cadillac customs to make even the most jaundiced automotive journalists salivate. The shop is staffed by a multicultural array of car-obsessed young men whose conversations tend to run like this:

“Do you want to buy a [Mercedes] twin-turbo CLK for real cheap?”

“How much?”

“120 grand.”

“Man, that’s too much.”






Pamela Sprewell, at 53, exudes a matriarchal charm that would make anyone feel at home while dropping 20 grand on rims, partly because she drives her own lowered black 2002 Mercedes-Benz S500 sitting on chrome dubs. Automobiles are a Sprewell family tradition, she tells me. Her father has owned an auto shop — “just basic auto repair, nothing fancy like this” — in Milwaukee for the past 53 years, and Spree is keeping on with the family tradition. She came out from Milwaukee last October to help at the shop. “We like to have a family environment here.”

Terran explains how Latrell came to purchase the shop in 1998 from Dazz Motorsports: “When Spree used to play for the Golden State Warriors, he would get his wheels done at Dazz. He knew there weren’t any shops in the San Gabriel Valley, and there was a lot of money in the area, so he just took it from there.”

The shop does everything from custom interior and body work to dropping suspensions, but its bread and butter is selling a mind-boggling variety of rims and tires. Sprewell features more than 100 brands, from low-end five-spokes to high-end chromed-out 22-inch Löwenharts. Spree even sells two signature models, one by Lexani and the other by BR9. And next year, he’s coming out with a full line of both high- and low-end Spree’s custom wheels and accessories. None of these should be confused with those ubiquitous “spinner” rims, which are known as Sprewells but were in fact invented by David Folkes of Dävin Wheels.

This reminds me of that show 'the rich and famous' where we got to see how the rich people spend our' money. Glad I didn't give any.


Article is a few years old now and there is greater competition in the field. Im sure he is doing fine but walking away from a note that large is no small matter. Maybe the resale market is not there and he might have taken a loss, but we talking a big boat and someone has to take the loss?

SPree was a great player and a good teammate, but not much else afterwards.
OasisBU
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8/24/2007  9:31 AM
Why are there so many people hating on Spree? The guy worked hard for us and he was a great Knick. Of course his career here ended badly, but can you blame him for hating Dolan? Maybe he is all about money, but the guy was fun to watch in a NYK uniform.
"If at first you don't succeed, then maybe you just SUCK." Kenny Powers
Bippity10
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8/24/2007  11:13 AM
"why are people hating on"

My least favorite phrase in the human language. I want Bush to use his dictatorial powers to rid our country of this phrase. It is vastly overused.
I just hope that people will like me
BasketballJones
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8/24/2007  12:07 PM
Posted by Bippity10:

"why are people hating on"

My least favorite phrase in the human language. I want Bush to use his dictatorial powers to rid our country of this phrase. It is vastly overused.

Why are people hating on the phrase "why are people hating on"?
https:// It's not so hard.
Bippity10
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8/24/2007  1:59 PM
Posted by BasketballJones:
Posted by Bippity10:

"why are people hating on"

My least favorite phrase in the human language. I want Bush to use his dictatorial powers to rid our country of this phrase. It is vastly overused.

Why are people hating on the phrase "why are people hating on"?



I have this guy that plays for me. He has unbelievable natural skill. He does everything perfectly on the court. Everything he does comes easy for him. But he's lazy. He shows up late to practice. He never picks up a ball during the offseason and floats in and out of games on a regular basis. He floats so much that his teammates had a private meeting and then came to me to complain about him. They wanted him off the team. I called him into the office and this is exactly what I said

"You are the most talented player on this team. When I see your skill level all I can think is that the sky is the limit. I want to help you in anyway possible to reach your potential. If you want to stay late after practice I will. If you want me to come early I will. If you just want to talk I will. The only thing I ask is that in return you give 100% to your team. Show up on time to practice and bust your asse on the court. If you do that for me, I will do anything for you. But if you show up late to practices I simply can't give you the time you deserve. If you give me 50% I have to give my attention to someone who is giving me 100%. Is that fair?"

He said yes.

Then he walked out of the office went up to one of his teammates and said "why is coach always hatin on me".

The next 3 practices he showed up late. He has since been voted off. "Now he tells everyone that I hate on him"

I hate that phrase
I just hope that people will like me
Sprewell's yacht repossessed

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