Dr.J Is broke

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 7 years ago '06        #1
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imthatinfamous 39 heat pts39
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Dr.J Is broke
 

 

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 After being sued for $200K, Julius Erving puts his trophy case up for auction - Ball Don't Lie - NBA*Blog - Yahoo! Sports

After being sued for $200K, Julius Erving puts his trophy case up for auction
By Kelly Dwyer

Times are tough for business owners both big and small in 2011, and Basketball Hall of Famer Julius Erving is no exception. The former Philadelphia 76ers legend is being sued for nearly a quarter of a million dollars after an investment in a golf club went belly-up.
The Atlanta Journal-Constitution has the breakdown:
Erving's company was given a $1 million line of credit in April 2009, which was due the following April, according to the lawsuit obtained by the AJC. Erving used a Gwinnett County home as collateral to secure the loan, the lawsuit states.
In August 2010, the line of credit was reduced to $750,000 and the maturity date extended to July 24, the bank stated in the suit. But, an outstanding balance of $205,277.84 has not been paid, despite a demand letter for payment sent Sept. 29.
Erving, better known by his nickname Dr. J, moved to the Atlanta area in 2008, about two years after purchasing the Heritage Golf Club, near the Gwinnett-DeKalb county line. The AJC reported in April 2010 that the golf club was in foreclosure.
That's just all sorts of unfortunate. Erving has taken in plenty of post-playing work since retiring from the NBA in 1987, including stints as an analyst on NBC and a gig with the Orlando Magic as an advisor. It's not clear what his role in the failed golf club was, but he's certainly on the hook here.
In what the AJC is calling an "unrelated" event, a litany of Dr. J's personal memorabilia has gone up for auction, through the SCP Auctions company. It's a pretty significant list of swag, available here:
Some of the marquis items from the collection include Dr. J's 1974 and 1976 New York Nets ABA World Championship ring; 1983 Philadelphia 76ers World Championship ring; 1996 NBA's 50 Greatest Players ring; MVP trophies from 1975-76 (ABA) and 1980-81 (NBA); 1977 and 1983 NBA All-Star game MVP trophies; 1979, 1981 and 1985 Eastern Conference All-Star game-worn uniforms, 1982-83 Philadelphia 76ers game-worn road uniform; and his final game-worn jersey from Game 5 of the 1987 Eastern Conference playoffs.
That's not just some of his memorabilia -- that's all his memorabilia. Championship rings? MVP trophies? His jersey from his final game as a Sixer? It's a cool stash, but it's also more than a little depressing.

76 comments for "Dr.J Is broke"

 7 years ago '05        #2
Based_One 87 heat pts87
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$10,158 | Props total: 8884 8884
damn fu*ked up NBAPA need to get some help for the older player who are in this situation league wouldn't be where its at without them
 7 years ago '10        #3
Dextromethorphan 217 heat pts217
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$27,807 | Props total: 15 15
he should move in with javale mcgee's mother
 10-25-2011, 09:13 PM         #4
Chopzilla 
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 Mil_Town_G said:
damn fu*ked up NBAPA need to get some help for the older player who are in this situation league wouldn't be where its at without them
For what? NBA ain't social security.

He made a bad investment and now he's going through what he has to do to support himself. You win some you lose some.
 7 years ago '05        #5
BronxBombers 195 heat pts195
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$37,736 | Props total: 2547 2547
The Nets should give him a job after all the only championship banner they got was back in the ABA.
 7 years ago '10        #6
Dextromethorphan 217 heat pts217
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 feroze said:
The Nets should give him a job after all the only championship banner they got was back in the ABA.
knicks fan talking sh*t when they haven't won a playoff game in a decade and haven't made it out of the first round in almost two.
 7 years ago '10        #7
Dextromethorphan 217 heat pts217
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$27,807 | Props total: 15 15
 7 years ago '06        #8
ThaShark316 86 heat pts86
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$13,004 | Props total: 80 80
 Dextromethorphan said:
he should move in with javale mcgee's mother



[video - click to view]

 7 years ago '10        #9
Agentzer0oo0 215 heat pts215
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$69,277 | Props total: 27627 27627
 Dextromethorphan said:
knicks fan talking sh*t when they haven't won a playoff game in a decade and haven't made it out of the first round in almost two.
 P. Dedos said:
and havent won a championship in four decades
Here we go again...

 7 years ago '05        #10
BronxBombers 195 heat pts195
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$37,736 | Props total: 2547 2547
 Dextromethorphan said:
knicks fan talking sh*t when they haven't won a playoff game in a decade and haven't made it out of the first round in almost two.
 P. Dedos said:
and havent won a championship in four decades
we will c who's laughing when Dwill leaves that bum a.ss team :dancingcool:
 7 years ago '05        #11
BronxBombers 195 heat pts195
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$37,736 | Props total: 2547 2547
oh yeah Knicks Championships back in days>>>>>> Nets ABA titles
 7 years ago '06        #12
imthatinfamous 39 heat pts39 OP
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$8,017 | Props total: 3530 3530
 feroze said:
oh yeah Knicks Championships back in days>>>>>> Nets ABA titles
Knicks won Championships?




 7 years ago '04        #13
MosDefinition 19 heat pts19
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$25,840 | Props total: 5176 5176
 feroze said:
The Nets should give him a job after all the only championship banner they got was back in the ABA.
so thats the reason walt frazier is still broadcasting nix games its charity it damn sure isnt because hes good at it
 10-25-2011, 09:36 PM         #14
Ca$h Out 
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what about that deal with converse???
 7 years ago '06        #15
bassy 23 heat pts23
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I got my eyes on a few of the items. I'm hoping they stay within my price range.
 7 years ago '11        #16
Backflipz 84 heat pts84
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$14,251 | Props total: 2316 2316
Damn gotta feel sorry for this n*gga, ain't nobody safe out here
 7 years ago '10        #17
GriffMcfly 22 heat pts22
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 P. Dedos said:
and havent won a championship in four decades

[video - click to view]

 7 years ago '10        #18
onlybuilt1906 8 heat pts
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$4,665 | Props total: 1266 1266
Good. Old a.ss n*gga tried to holla at my bi*ch earlier this year. Yeah, I'm hatin.
 7 years ago '08        #19
arthurmack27 8 heat pts
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$4,985 | Props total: 801 801
i wish i had the money to buy some of this stuff. im still a big card and memorbilia collector and to have some of this stuff is essentially owning a big part of history. unfortunately, my best item is a john wall/favors/johnson/turner/cousins autographed basketball direct from the nba.
 7 years ago '08        #20
arthurmack27 8 heat pts
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 bassy said:
I got my eyes on a few of the items. I'm hoping they stay within my price range.
not unless ur a baller homie. J's sh*t is in high demand. dude is literally a basketball icon.
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