- October 10, 2012
- Posted by: Richard Feinberg
- Category: News
The Florida bankruptcy court has been handing the high profile filing of NFL player, Warren Sapp, since April of this year. As the former Tampa Bay Buccaneers star fell in over his head with debt obligations, he entered Chapter 7 in efforts of finding relief.
To The Highest Bidder
Carrying an estimated $6.7 million in debts, Warren Sapp has been ordered to auction off his home or risk facing jail time. Why? Because much of Sapp’s debts are back due child and alimony payments, neither of which are eligible for bankruptcy protection. Since the court can’t discharge these debts in Chapter 7, Sapp will be forced to give up some of his near $6 million in assets.
Sapp will be giving up $7,000 worth of Jordan athletic shoes, a $3,000 watch and thousands of other dollars in luxury home decor items. His four bedroom, five bathroom home, complete with a waterslide, two-story wine cellar and movie theater will be sold at auction on November 1, at 8 a.m.