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1st!!!

They don’t call me first for nothing!LOL

Damn he looks ashy as Jim Jones in this one… He been hittin those rocks, that why he broke? Damn and you don’t see Spreewell Spinners these days, he must of made paper from them, what happend?

3YR 21MILLION DOLLAR DEAL……….”I HAVE A FAMILY TO FEED”. ARE SERIOUS? THEY WONDER WHY THEY CALL IS %IGGERS….

Where does the money go? I do not understand why they don’t take the money when they have it and actually purchase the homes, yachts, etc. instead of financing them. It just doesn’t make sense to be that damn stupid.

big dummy, why would you turn down $21million. if your family can not live off of that then you all deserve to be homeless and broke. i am so through with these dumb a** athletes.

YO CHILDOFTHEPROMISE,

I GUESS HE WAS TRYING TO “FEED HIS FAMILY!

he was offered a 21 million extention and he didn’t take it because “he had a family to feed”. um, that doesn’t make any sense. when he turned down the deal, what did he do instead that was going to make him as much or more money?

dummy…

this is indeed a dumb igga…im truly certain he that everyday he wishes he could go back and say “HELL YEAH” to that offer for 21 mil…he needs to get them janky braids cut, take a shower, and start fuccing for tracks…i heard he had a lil rap game, lol…

Greed,will bite you in the ass.

Straight played himself. Boo!

(in my best 6 year old voice)

S T O O P I D!!!

Stupid ass “nigger rich” idiot.

I just feel bad for these chickenhead girls that opeb their thighs for these loser athletes. If he’s not beating you, cheating on you, verbally abusing you or giving you diseases – he’s broke!

Stick to the nerds, ladies.

It never ceases to amaze me! Why don’t professional athletes, actors, singers, etc… buy their homes outright, that way they won’t have that big expense when the checks stop coming? Why don’t they develop a secondary skill/career to fall back on when their playing days are over? Why is it so important to buy several lamborghinis, ferraris, etc… before paying off your home? How is it that someone making 10-15 Million dollars a year for years can be broke? People, can you say FINANCIAL PLANNING. This is just plain ol’trifling!!

I GUESS THAT DEAL DONT LOOK TO SHABBY RIGHT BOUT NOW HUH

he can live with me in Hampton Va. Spree you still my boy.. keep your head up. it will get better.

I was just reading some article where 60% of retired NBA players go broke when they retire. Its really sad, stop buying the cars and the bling and pay some bills!!

You can get a single parent on benefits manging her money and feeding her kids, and you can get a prick who blows it ALL and ends up in prison!

COMMON SENSE GETS YOU GOING!

when i win the lotto tonight, i’m about to show foolz like him how it’s done – don’t EVER NEVER ever take out a mortgage on a house when you can buy it in cash … buy it in cash, put aside another $100,000 for yearly taxes and if you can, pay those off, 5years at a time .. broker a deal .. then you’re not thinking about any payments for a house … then if i was him, i’d shave, take those braids out and always wear a long sleeve shirt because that one and the way he’s holding that phone is screaming HOW YOU DOIN’to me … he’ll be skrate

If you really hate someone, buy them a boat. Those things can be hard to maintain, if you don’t have your own storage.

This man has always been crazy he is pretty much black listed by the NBA for being a problem child. Shame of it is that 21 million he turned down is a whole lot better than the 0 he’ll be seeing for the rest of his life. SMH.

I don’t feel sorry for his stupid behind. Just another case of a financially illiterate person. Instead of learning how to properly invest his money so he could retire financially independent, this fool spent his money on stuff that has no appreciable value like cars, yachts and jewelry so he could floss to his friends. Why the hell didn’t he buy his home outright? And it doesn’t take a math wizard to know that 21 million is more than 14.6 million. Who the hell was his agent? Stupidity on this level truly pizzes me off.

Give me a million and i’ll make last me the rest of my life.

He can go try out for the Globetrotters now.

@Carla07

LOL my friend that used to play @ Ohio State played for the Globetrotters!!! He used to be pissed!!! They used to do the Chingy dance!!! LMMAO!!!

How did he fail to pay for a 400k house? Paying off a house is something people do working 9-5 jobs everyday. What’s his problem? 7 million dollars a year can feed a hundred families comfortably. Poor Latrell.

He has a family to feed? There are people who manage to feed there familt, pay there mortgage and some bills making 1000 everytwo weeks, and you telling me he turned down a 21 million dollar contract, because he needed to feed his famliy? My question is what the hell was him and his family making before he started plying ball, for him to think that 21 Mill wasn’t enough to take care of his famliy? Idiots. Greed will do it to you everytime.

See what greed gets you? I feel no pity for this cat. Now go play some ball in Canada.

This is so said. I was watching basketball the other day and was wonderin where this nicca went.. Stupid @ss turned down 21 mil, cmon if u cant feed your family off that then they need to get jobs themselves, just another nicca who think he;s worthj more than what he really is.. ~SMH~

And dont nobody buy Spreewells anymore, I wouldnt be suprise if they discontinued them

WOW>…..His advisor Jerked the hell out of him- he is a fool……… See Math class is important after all

That’s what he gets for being so greedy.

As a resident of Minneapolis, it’s that much better.

Squandered all them millions away, already???

Good for him……… lol

Why did he want that much money? He wasn’t paying his bills with the ish.

I’m still stuck on the “I have to feed my family…” comment.

Maybe his family ate the other fkn money. Man he’s stupid – he looks homeless already.

I can’t fathom this dude saying that with a straight face. What else was he going to do for that much money or more than that? $21 million dollars for 3 years. That’s the damned lotto…dummy.

Slow. Stupid. Dummy. Fool. Simpleton. Dunce. Nincompoop. Bafoon. Arrogant. Aloof. Lame. Greedy. Blind.

Wow 21 million is not enough to feed your family?? Does he have a house full Shaq’s or something?

@ NuAgenda…

I’m just trippin off him saying he needed to feed his family, lol.

Why did he have to say that? Anything but that.

People are going to be lookin at his fam sideways for the rest of their lives because of that, lol.

Money eating ass kids…

the few times I’ve been to the club here in Milwaukee, i’ve seen him EVERY SINGLE TIME, posted up in the corner at the bar with those dusty ass braids acting like people are supposed to be falling at his feet.

he’s so washed up here in Milwaukee!

WHY AM I NOT SURPRISED?? HE NEEDS TO GET OFF THAT CELL PHONE AND SAVE THOSE DAYTIME MINUTES!! DOESN’T HE KNOW IT IS 40 CENTS A MINUTE AFTER YOUR MONTHLY MINUTES HAVE EXPIRED

He needs a hot ass bath.

Matter of fact, the water needs to be so hot when he sits in the water the top of his buttcrack starts itchin.

…feed his family. (Rolling eyes & sighing)

I bet you he’d take $21,000 right about now to ball .. hell, $210 … smh

This is what happens when you take some dumb ass from the ‘hood (no offense to the smart people in the hood), who in spite of all the opportunities and chances he has, still refuses to let go of that “ghetto mentality” that I’m going to buy yachts, houses, big ass dinner plate sized jewelry and finances his “boyz” and the strip clubs !!! The NBA has all sorts of seminars on finances, etc., but clearly he didn’t go to any or he didn’t pay attention !!! Invest the money, make it work for you.. Turning down $21 million has got to be the most foolish ignorant moves anyone has ever made !!! He played himself, and now look at him !!! I don’t feel sorry for him at all.. It’s not like he had an accountant, financial manager,etc. who embezzled it.. HE SCREWED UP !!!

Wow, I live here in LA and my rent is more than his mortage. Poor thing, I’m sorry to hear this, but a hard head makes a soft azz. LOL @ Sizzla.

Wow! That’s the way the universe works though. Hopefully he still has some money. What a dummy!

may god bless him, obviously this super ashy ass fool needs some lotion and a lot of prayer.

Latrell has some $50.00 braids on his $2.00 head!!!

what happens to his kids now??? Looks like he will be clapping his ass cheeks and sliding down a stripper pole to feed his kids now!!!! hahaha

Most people don’t know that the word “boat” is not a word. Boat stands for “break out another thousand.” Everytime you crank that yacht up, it costs at least a thousand dollars.

Athletes and their damn egos!

How much did this negro think he was worth?

I bet he’s one of those people that just because they make a lot of money, they think it’s never going to run out.

Did anyone learn from Hammer? Foolishness at it’s best! SMFH!

This is more than a shame.

@Im just me

Did you see the sweat shirt that cell phone the least of his troubles lol

I feel sorry 4 the dude.

@ Justplayit04

LMFAOOO, you’re right. Between that sweatshirt, those razor bumps, those tired braids, and his ashiness…it is obvious ole boy forgot what is was like to be broke. But he will remember again right about..now!

and also, when will these ball players learn that they can be replaced and that their services are not needed. there are many people that will play for a fraction of whatever they are requesting…they need to be greatful that they even get the opportunity to play at all!! Hope these players actually got thier degrees!! they gonna need it in the long run!!

It’s sad and it’s tragic that these things happen to athletes, musicians, movie stars and other celebrities. A professional athlete’s career is very short. Even though you may make a tremendous amount of money in a few years, you can lose it ten times as fast.

After you pay your taxes, agent, managers, lawyers and baby mamas, you still got to pay your bills. You buy some bling and the money is gone, just like that.

Everyday they make a choice about whether they want to be rich or be famous. Nearly all of them choose famous.

He should let people punch him in the face for $5. There’d be lines around the block.

WHA HAPPENED TO THE SPINNERS PLUS HE HAS HELLA KIDS NOT SURPRISED BETTA GO BACK TO THE COURT

http://WWW.MYSPACE.COM/THAGRINDAHOLIC

BACK WITA NEW TRACK “HYPHY WIFEY” CHECK IT OUT

LMFAO HAHAHAHA @ PEEPEYE and his 50 dollar braids on 2 dollar head. THAT ish was funneee!!!

He better sell that house. With 14 years in it should be worth way more than he paid for it. I wonder what he is doing for a living.

I hope Spree will be alright…Dude used to rep the Knicks hard.

@Traydayz

You aint never lied.

ashy lip bastard.. why can’t people use cocco butter! Palmers stat!!!!!

Damn Trell!!!

At least pay ya bills where ya rest ya head!!!

Damn! And might I add another DAMN!!!!

And how you gone buy a boat and yo ass can’t swim!!

LMAO!!!!!!!!!!!!!!!!!!!!!!

Lol @ The ignant sh*t we do!!!!

aaaaahh the niggery being displayed

One more thing–

I know dem baby momma’s is heated right ’bout now!

Oh, well. No mo rims for the Taurus.

No mo orange hair.

No mo blue tip fingernails w/ the silver line.

No mo juice 4 tha kids. It’s Kool aid from here on out!

No mo groceries to feed that otha brotha.

No mo Xboxes for the chirruns!

No mo bling bling!

No mo sweatpants with Baby Phat or Coogie written across ya ass!

No mo pic and pay shoes!

No mo rent to own—sh*t!

ROTFLMAO!!!!!!!!!!!!!!!!!

If you are making millions a year, why can’t you pay cash for a $405,000.00 house?

*only 405G

Actually–when I was doing some research before I purchased my first home, I was told that–even if you have the purchasing power (that’s money for some of you) it’s not always a good idea to pay the entire mortgage off in one sitting. I can’t remember the reason(s) because that was almost 8 years ago but, the reason seemed like a sensible one at the time.

Wow, he spent it all before he saved a dime? I can’t believe a person can pocket even 5-10 million after taxes and have NOTHING in the end? I hope this looks worse than it is. If not, what an idiot.

pride comes before your downfall. This bruh was full of himself, and look where he’s at. He forgot that he’s replacable.

Wait so his house payment was $2500 a month, but the payment on the boat was $10,000 a month. See, that makes no SENSE!!!

@ 1 truDiva…

i have heard that too, but the idea is to make the payments on time/ overtime as a way to improve your credit…

but in actuallity this fool should have paid for 3/4ths of the house and paid the rest off on a montly basis… ING works for most, but not for SPREE

Is the foreclosed house a second property..not his main residence? He was so popular..maybe he can get a reality show aka flav/bobby brown

wow- wonder what happened to all those millions? hopefully his chick stashed away a few in her name.

1TruDiva w/The PlatinumVocals!

I worked at a tech startup right before the bubble burst and some of us were talking about what we were going to do with our money and I said I wanted to pay cash for a house and the controller told me that you should pay a mortgage for tax purposes over the long term. Interest is a write- off. That’s why they be committing suicide and crap when they get laid off. To hell with some interest. I need security.

@ a true bostonian stuck in the abyss, of Redskin/Cowboys Country bka DC–

E.X.A.C.T.L.Y!!!!!!!!!!!!!!

Not pay for the entire house at one time but to make a considerable down payment and pay the balance over time.

Hey Bird!

There were several reasons I was told it wasn’t a good idea to pay the entire amount in cash. Now that I remember–I think yours was one of them. At least–that would make perfectly good sense. Especially today.

I have no idea why SOME athletes buy things knowing it’s harder to maintain that type of lifestyle when their playing days are over. When you retire around 33, no one is going to give your uneducated @$$ $14 million to do $hit!!! Stay in college get that degree and while your playing stack your paper, save and invest!! Prepare for the future!! Not everyone has an empire like MJ…his name is a brand!!

I don’t feel sorry for him. He and many others need to learn how to save and spend wisely.

Think about it-

Huge house-PROPERTY TAXES

Depending on what state you live in-STATE TAXES

Depending on what city you live in-CITY TAXES & it gets doubled depending on what city you live in. LIke folks in Richardson, Texas have to pay Richardson & Dallas city taxes.

Have a ton of cars-INSURANCE and just think how much the basic costs you.

Lawyer fees-if you keep one on staff

Agents-

BABY MOMMAS-think how much Shawn Kemp has to pay with his 9 kids.

People youpay to be your friends that end up getting you screwed over like Vick.

That’s why we have to start educating our kids to stop buying everything and trying to keep up with the Jerry Jones of the world. Our black media wants to showcase these clowns and never bother to show us when they go broke.

We need to get our kids in college and make them graduate and stop this running around and flunking out or rushing to the NBA or NFL.

To the left, to the left…everything you own in a box to the left.

Oops. My bad. The bank probably has the box, too.

Better do something about those ashy lips and make ‘em work for ya, dumbass.

60% of professional athletes will be damn near broke (if not totally) approx. 10 yrs out of the league and that’s REAL TALK!! it’s awful! there is a whole lot of work that needs to be done in that area. it’S beyond sad…

@ Ghost -

that is so so true! i agree with every single word you said!

this is what happens when you spend money faster than u can count it.

I wondered what happened to him! When they give these athletes these large sums of money (when they have never had the advantage of having a large sum) they should also set them up with a class on how to manage their money. I agree with most of the posts here…

My God, what an idiot… My home is in the 450k ballpark, and I only make RN money. Wow…

Sorry, did not read all the posts. Is a house payment of $2,593 so much to pay. I always thought that when u ball like that that u pay cash for a house. Is it his taxes and insurance that cost the $2,593 per month. Otherwise to me it does not make sense. “When rich blacks go broke” I know he has not played for a few years but darn, don’t residuals and endorsement money come your way. Why do black people have Yachts? Not all us know how to siwm. lol. Did I read something wrong in all of this. Did he not say that he needed to feed his kids but gave up a 3 yr. 21 mill contract? Guess I got caught up in the $millions spent wrongly.

Actually–when I was doing some research before I purchased my first home, I was told that–even if you have the purchasing power (that’s money for some of you) it’s not always a good idea to pay the entire mortgage off in one sitting. I can’t remember the reason(s) because that was almost 8 years ago but, the reason seemed like a sensible one at the time.

=============================================

You want the tax write-off. Also, it may be better for you to invest extra money versus paying down your mortgage if you can get a rate of return higher than your mortgage APR.

The article did not say whether it was his primary residence. I would think that if he was paying $10K a month for a boat, he probably paid more for his principal residence. The house worth $405K is probably his 2nd home. If the house is not worth the mortgage, then it may be a good idea not to pay it. He had a holding company paying the bills so he may not be broke personally.

I really hope this is a financial strategy. As someone said earlier, Hammer should be a living example of why financial planning is important to everyone, especially wealthy black folks.

The comment about Sprewell wanting to be famous instead of wealthy was profound. Some people just can’t see the forest for the trees.

Thanx for the comments. I did forget that some do not pay off a house for the tax deductions. I was only seeing the dollar signs of their incomes and thought why with all the money they would not pay a house off. A tax write off does make a big differnce no matter who you are.

If he had a girl like me by his side instead of “Quita nem” he wouldn’t have gotten himself into this situation. I would have helped him invest his money wisely. Not run off to the swapmeet every weekend buying knock off Minolos & big ass cheap gold chains!! Ghetto hoodrats strike again! LOL

damn shame indeed

Jaycee wrote, “You want the tax write-off. Also, it may be better for you to invest extra money versus paying down your mortgage if you can get a rate of return higher than your mortgage APR.”

but eventually you will have to pay all of that off. that only works if you always have income coming in, right? what could have Sprewell have done to ensure that he would not only have the write off, but the money to pay off that house in case he met with misfortune?

why would his financial advisors allow the problem to get that deep — since he must have had financial advisors in the first place, if he was going this route instead of paying it off free and clear?

SMDH no surprise here – a fool and his money are soon parted. Buying a dayum yacht – was his father a fisherman? Putting your money into shyte you know nothing about. It’s like MC Hammer investing in race horses – was his father a jockey?! This will continue to happen with these jokers devoid of common sense.

Most of the serious money drains that celebrities and athletes have are their ego purchases. The humongous house, luxury cars, fancy vacations, jewelry and entertainment take their toll on their finances.

My dad used to always ask me before I made a purchase, “What would you buy if no one in the world could see it or use it except for you”? It has made a huge difference in the way that I manage my personal finances. If no one is going to see it except for me, what does it matter what I spend on it? Or, if it does matter to me, it shouldn’t matter what other people think about it?

Yet another instance of a dumba$$ athlete spending more than they earn thinking the money’s gonna flow indefinitely. I have zero sympathy for this dumb

n%gga – how are you earning $14M and have a $400K house and a $1M yacht, both financed?????

UH HA, UH HA, UH HA, HA, HA HAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

I dont feel bad at all why would you turn down 21 million smh oh I forget Latrell did. Damn shame now your ass is broke ,thats what you get Karma is a B^^888 . Hmm why dont you go back to the strip clubs where you made it rain on the strippers, and ask for your dollars back. Hmm or they can give you a job because YOU HAVE CHILDREN TO FEED SMH. Stage name La La ‘da Boom Boom’Sprewell

wtf??? Working is what feeds your family! Now you assed out. Dummy… I really hope there is a good explanation for this.

There must be more to this story than we really know about. He needs to “feed his family” so he quits working? Was he intending on becoming a farmer because the NBA simply didn’t pay enough?

The professional sports leagues are simply crawling with financial advisers who target athletes, and most of them are good at what they do. Not everyone has the privilege of being paid millions of dollars a year for their favorite hobby, and these advisers are there to make sure that the money goes towards providing for the athletes after their relatively short sports careers are over.

So it seems like this is an enormous failure on Sprewell’s part to take advantage of any of the opportunities offered to him.

You dont pay off a house up front b/c you lose out on tax deductions for future years… None the less, this is really sad, he went from bank- rolling to this. And ironically, he still has his family to feed~ I hope they are getting by. Whomever his financial advisors and managers where that let him chuck that deal are the worst. I sincerely hope he didnt have a cousin for a sports attny… Maybe the NBA will take him back, but he had a cocky- violent attitude and that may have cost him his career, they would have bargained with a more image- friendly player.

maybe that 14 mil. was the last year on his contract and taking the 21mil wouldve meant taking a 50% paycut unthinkable at the time hind sight is always 20/20. im pretty sure that there is more to this story. dumb for not taking the 21 mil. maybe but where he messed up at was he had time after he didnt sign the contract to brace for these hard times. use what was left of the 14mil to generate more income. maybe interest or maybe he thought he did that with the rims…… sad story though