You wouldn't want Christian Laettner's financial problems right now
- Blog Post by: Howard Sinker
- March 9, 2012 - 2:04 PM
The Wall Street Journal is reporting that ex-Timberwolves forward and Dookie Christian Laettner, along with business partner and former Duke teammate Brian Davis, are defendants in several civil lawsuits seeking repayment of about $30 million in loans relating to real estate deals gone bad.
Next week, they'll appear at a hearing in Washington, D.C., at which a judge will decide whether to hold the pair in contempt of court because they haven't paid $671,309 to former Duke baller Johnny Dawkins after a court ruling last year. According to the Journal report, their attorney says any money that hasn't been repaid is "attributable to a lack of resources."
The Journal says that Laettner and Davis were ordered to repay ex-NBA great Scottie Pippen $2.5 million in 2010, and that about half of that settlement has been paid so far, according to Pippen's attorney.
The duo also owes Buffalo Bills linebacker $3.7 million, more money that apparently hasn't been repaid (despite a court judgment) because the money isn't there.
"I feel cheated," Merriman said in the story.
You have to assume that Laettner didn't do a great job of shepherding his own money. At age 42, he has taken a job as an assistant coach with the Fort Wayne Red Ants of the NBA's D-League and says he wants to become an NBA head coach some day. (The Red Ants are 11-28, if you needed some numbers that don't have a dollar sign in front of them -- and maybe some indication of Laettner's chance of reaching his latest basketball goal.)
Laettner wouldn't talk to the Journal reporter, but Davis offered up: "The timing of the economic collapse and our game plan was not good."
One more number, and it's a big one. According to basketball-reference.com, Laettner was paid almost $61.5 million during his NBA career, which ran from 1992-2005.
h/t Michael Rand
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