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Old    Manzo (zo1)      Join Date: Aug 2002       05-25-2010, 11:03 AM Reply   
A judge in New York has authorized a lender to seize three cars owned by the Knicks' Eddy Curry because he's behind in loan payments. Curry, who has played only 10 games the last two seasons, has a $60 million contract that includes an $11 million option for this season.

In addition to the cars, Supreme Court Justice Jane Solomon ordered Curry to pay $75,000 a month plus interest on his $570,000 personal loan from Allstar Capital, according to the New York Daily News.

Curry took out the loan in 2008 at 85% interest, a rate that's legal to charge only in Nevada, according to the Daily News.

Court documents show he also has a $6,000-a-month personal chef, a Rolls-Royce and a $350,000 debt to fellow NBA player Juwan Howard. The Daily News says the documents also show Curry gives $16,000 a month to relatives.

"Mr. Curry appears to be a very, very generous man," Allstar Capital attorney Donald David told the judge. "He appears to have taken it upon himself to support every person named Curry on the East Coast."

Bahahaha, Nothing like a 570,000 loan at 85% interest
Old    Eric (mjfan23)      Join Date: Nov 2003       05-25-2010, 1:07 PM Reply   
What do I care? Doesnt affect me... This is the life style that many athletes have. The number of broke athletes is incredible. For me, ill just sit there and laugh at these clowns for being financially stupid. Pathetic.
Old    Brett W (brettw)      Join Date: Jul 2007       05-25-2010, 2:20 PM Reply   
He'll be broke within a year after retirement and then for the rest of his life.
Old    Darren Yearsley (ralph)      Join Date: Apr 2002       05-25-2010, 4:02 PM Reply   
IMO the NFL has a responsibility to give these athletes the tools to deal with there wealth. There are very few 20 some-things who can deal with cash, fame & adulation without significant assistance.
Old    Train (ttrigo)      Join Date: Dec 2004       05-25-2010, 5:23 PM Reply   
this is an NBA player.
and secondly, all rookies for every pro league attend symposiums where they are counseled on the ins and outs of the business. the problem is, once these thugs get out of the ghetto and sign that contract, they bring along all their "boys" from the hood to hang out day in and day out. basically doing the exact thing they did in their old neighborhood, but with much nicer cars, clothes, jewelry, etc.
Old    Jason B (boomboom)      Join Date: Apr 2008       05-25-2010, 5:55 PM Reply   
The kool-aide is hard to resist. I never had MILLIONS, but there were a few years where I made obscene money and it went as quick as it came...IDK how, it just did. I learned from it, and I'd never do it again given the same opportunity. Luckily I did make a few decent investments, but nothing like I should have! I can totally understand how it happens. It sounds like such a good idea at the time...the money is rolling in sooo easy....your people make requests, "wouldn't it be cool if.." Stupid ideas just get brought to fruition when you have the means to do what you like.
Now, 85%, wtf?? NEVER would have signed that loan! haha
I guess I'm just glad I have a sweet arse boat, my health, and a new perspective on saving and thank goodness it didn't cost me everything I owned like this dip****. lol

I do agree that these ghetto fools should be obligated to mantain some sort of financial management service to ensure they don't find themselves in this spot. It's actually for the best, who's more likely to throw a game, a broke bastard looking at more easy money or someone set on a solid financial path to early retirement?

btw...I wish I was his "boy" lol
Old    Richard Coop (mendo247)      Join Date: Mar 2005       05-25-2010, 9:40 PM Reply   
No different than many other Americans right now.

Hes just playing with more Zeros..
Old    Manzo (zo1)      Join Date: Aug 2002       05-26-2010, 9:56 AM Reply   
^^ True that...

The spending and being broke is not the funny part IMO, it is the 85% interest loan. I want in on that business!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Old    Tracktor (tracktor)      Join Date: Sep 2005       05-26-2010, 6:06 PM Reply   
Who cares about the interest rate when he is just gonna default on it?..............


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