<div class='quotetop'>QUOTE </div><div class='quotemain'>Former NBA star Latrell Sprewell had his yacht repossessed by the bank holding the loan on the 70-foot, $1.5 million vessel, the Milwaukee Journal-Sentinel reported Wednesday. </p> According to the report, a U.S. Marshal armed with an order from U.S. Magistrate Judge William E. Callahan Jr., seized the yacht, the "Milwaukee's Best," in Manitowoc, Wisc., about 80 miles north of Milwaukee on the shore of Lake Michigan. </p> The bank has claimed in federal court that the owner, LSF Marine Holdings, a company run by Sprewell, has failed to make monthly payments of $10,322 in a timely fashion and has not maintained the necessary insurance on the vessel, according to the report. </p> The bank wants the "Milwaukee's Best" sold to pay off the $1.3 million it says is remaining on the loan, according to the Journal-Sentinel. </p> The newspaper said it could not reach Sprewell for comment. </p> Sprewell last played in the NBA in 2004-05 with the Minnesota Timberwolves. He famously turned down that team's three-year, $21 million contract offer, telling a reporter for the Star Tribune of Minneapolis: "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." </p> Sprewell, a swingman, played 13 seasons in the NBA for the Golden State Warriors, New York Knicks and Timberwolves, averaging 18.3 points per game.</div></p> ... LOL</p> -Petey</p>
$10,000 a month to own a $1.5 million dollar yacht?</p> I don't get how guys can earn tens of millions and then not have the foresight to purchase these luxeries outright.</p> Who knows if you will have money to cover these expenses ten or fifteen years down the line? Especially for a nutbar like Spree.</p>
<div class='quotetop'>QUOTE (speeds)</div><div class='quotemain'> $10,000 a month to own a $1.5 million dollar yacht?</p> I don't get how guys can earn tens of millions and then not have the foresight to purchase these luxeries outright.</p> Who knows if you will have money to cover these expenses ten or fifteen years down the line? Especially for a nutbar like Spree. </p></div> Maybe I can take over the payments, have 10k a month to loan me speeds?</p> -Petey</p>
<div class='quotetop'>QUOTE (speeds)</div><div class='quotemain'> $10,000 a month to own a $1.5 million dollar yacht?</p> I don't get how guys can earn tens of millions and then not have the foresight to purchase these luxeries outright.</p> Who knows if you will have money to cover these expenses ten or fifteen years down the line? Especially for a nutbar like Spree. </p></div> </p> One of Spree's companies owns the boat. There is no point for them to purchase it outright. </p>
<div class='quotetop'>QUOTE (cpawfan)</div><div class='quotemain'><div class='quotetop'>QUOTE (speeds)</div><div class='quotemain'> $10,000 a month to own a $1.5 million dollar yacht?</p> I don't get how guys can earn tens of millions and then not have the foresight to purchase these luxeries outright.</p> Who knows if you will have money to cover these expenses ten or fifteen years down the line? Especially for a nutbar like Spree. </p></div> </p> One of Spree's companies owns the boat. There is no point for them to purchase it outright. </p> </div></p> Except for the fact that the payments weren't made and it is being repossessed?</p> </p>
I don't see how any millionaire is gonna buy something and be paying a note on it. If I can't buy it outright I won't touch it until I can.</p> And as for Spree, he should've gotten on a roster a year or two ago, I don't know what he was thinking about, he could've been Micheal Finley.</p>
<div class='quotetop'>QUOTE (speeds)</div><div class='quotemain'><div class='quotetop'>QUOTE (cpawfan)</div><div class='quotemain'><div class='quotetop'>QUOTE (speeds)</div><div class='quotemain'> $10,000 a month to own a $1.5 million dollar yacht?</p> I don't get how guys can earn tens of millions and then not have the foresight to purchase these luxeries outright.</p> Who knows if you will have money to cover these expenses ten or fifteen years down the line? Especially for a nutbar like Spree. </p></div> </p> One of Spree's companies owns the boat. There is no point for them to purchase it outright. </p> </div></p> Except for the fact that the payments weren't made and it is being repossessed? </p> </p> </div>That doesn't change the fact that it is beyond silly for a company to outright purchase something that expensive that depreciates. </p>
<div class='quotetop'>QUOTE (Dre)</div><div class='quotemain'> I don't see how any millionaire is gonna buy something and be paying a note on it. If I can't buy it outright I won't touch it until I can.</p> And as for Spree, he should've gotten on a roster a year or two ago, I don't know what he was thinking about, he could've been Micheal Finley. </p></div> Spree was never going to be a classy player, good locker room guy and a dependable shooter.</p>
[quote name='cpawfan'][quote name='speeds'][quote name='cpawfan'][quote name='speeds'] $10,000 a month to own a $1.5 million dollar yacht?</p> I don't get how guys can earn tens of millions and then not have the foresight to purchase these luxeries outright.</p> Who knows if you will have money to cover these expenses ten or fifteen years down the line? Especially for a nutbar like Spree. </p>[/QUOTE] </p> One of Spree's companies owns the boat. There is no point for them to purchase it outright. </p> [/QUOTE]</p> Except for the fact that the payments weren't made and it is being repossessed? </p> </p> [/QUOTE]That doesn't change the fact that it is beyond silly for a company to outright purchase something that expensive that depreciates. </p> [/QUOTE] Well aside from the fact that the company is being used as a front for tax purposes, and the boat is just his personal luxery when he needs it, paying the interest in a $1.5M boat would be enough reason for me to want to own it. The money he'd lose in depreciation would be close to the interest paid over 12 or 14 years, whatever the case may be. </p>
<div class='quotetop'>QUOTE (cpawfan)</div><div class='quotemain'><div class='quotetop'>QUOTE (Dre)</div><div class='quotemain'> I don't see how any millionaire is gonna buy something and be paying a note on it. If I can't buy it outright I won't touch it until I can.</p> And as for Spree, he should've gotten on a roster a year or two ago, I don't know what he was thinking about, he could've been Micheal Finley. </p></div> Spree was never going to be a classy player, good locker room guy and a dependable shooter.</p></div> He didn't have to be Mister Manners, but as long as he didn't become a distraction, which I don't think he would've, he'd have been fine.</p> And yes, this might sound like a joke, but aside from the Carleseimo thing and the contract dispute with Minny, what has he done that was so bad? </p> Plus he could actually penetrate and handle the ball as well as shoot, Fin was pretty much gonna shoot all day.</p>
<div class='quotetop'>QUOTE (Dre)</div><div class='quotemain'><div class='quotetop'>QUOTE (cpawfan)</div><div class='quotemain'><div class='quotetop'>QUOTE (Dre)</div><div class='quotemain'> I don't see how any millionaire is gonna buy something and be paying a note on it. If I can't buy it outright I won't touch it until I can.</p> And as for Spree, he should've gotten on a roster a year or two ago, I don't know what he was thinking about, he could've been Micheal Finley. </p></div> Spree was never going to be a classy player, good locker room guy and a dependable shooter. </p></div> He didn't have to be Mister Manners, but as long as he didn't become a distraction, which I don't think he would've, he'd have been fine.</p> And yes, this might sound like a joke, but aside from the Carleseimo thing and the contract dispute with Minny, what has he done that was so bad? </p> Plus he could actually penetrate and handle the ball as well as shoot, Fin was pretty much gonna shoot all day.</p> </div></p> </p> He was arrested while with the Warriors on traffic charges after he threatened a police officer.</p> One of his pit-bulls mauled his 4 year old daughter.</p> He reported to the Knicks with a broken hand that he lied about, because he broke it during a fight.</p> He was placed under house-arrest after forcing another driver off the road.</p> </p> </p>
He was suspended twice during the 94-95 season for conduct detrimental to the team.</p> He was benched for refusing to stop laughing during a timeout with the Warriors.</p> He was thrown out of practice for refusing to listen to instructions by coaches with the Warriors.</p> The Warriors fined him for showing up to a game late.</p> </p> </p>
A conglomerate of (old), minor offenses. None of that besides the broken hand significantly alteredhis team's season. Good players are entitled to some controversy, as long as they aren't beating up fans.</p>
