Former NFL defensive lineman Warren Sapp is cashing in on his collection of 240 Air Jordan sneakers to help satisfy some of his debt, according to TMZ.
Sapp is part of an unfortunate list of recent cash-strapped athletes (most notably Allen Iverson, Terrell Owens, and Dennis Rodman) who have squandered their once obscenely huge bank accounts by living way too large.
Despite his post-NFL career success as an analyst on Showtime’s “Inside The NFL,” the NFL Network’s “NFL Total Access,” and finishing second place on the seventh season of ABC-TV mega hit show “Dancing With the Stars,” Sapp still owes Uncle Sam big time!
He filed Chapter 7, the most drastic bankruptcy alternative that requires the sale of assets to pay off debts.
According to published reports, Sapp, the father of six children, is in debt to the IRS owing $853,003 for tax year 2006 and $89, 775 for 2010. He reportedly has alimony and child support back payments of $876,000 and he needs to satisfy another $68,738 in back property taxes. In 2010, PNC bank was awarded a judgment of $988,691.99. They filed a monthly lien of $33,333 against Sapp’s $45,000 NFL Network paycheck in Dec., 2011. Not to mention, family, friends, attorneys and even a speech therapist are owed monies.
His grand debt total comes to nearly $7 million, according to the Tampa Bay Times.
Now Sapp is forced to sell off his sneaks–some rare, some unused–with the proceeds going towards satisfying those companies and people who are standing in line with their hands out waiting to get paid.