Warren Sapp files bankruptcy
 

Sapp files bankruptcy

Posted by Mike Florio on April 6, 2012, 5:40 PM EDT

Getty Images
Well, if former Saints tight end Jeremy Shockey is going to sue Warren Sapp, he’d better get in line with the rest of Sapp’s creditors.

Sapp, a likely future Hall of Famer, has declared bankruptcy in Florida, according to TMZ.com.

He has filed under Chapter 7, which will result in full liquidation of his $6.45 million in assets (including a “Large Nude women painting” . . . it’s unclear whether the painting or the women are large) to pay his $6.7 million in debts.

According to the filing, Sapp owes the IRS more than $900,000, and hundreds of thousands of dollars in child support.

He lists his current income as $45,000 per month from NFL Network, on a contract that expires in August 2012. (He also has worked for Showtime’s Inside the NFL. It’s unknown whether he’ll continue that assignment in 2012.)

Sapp, who spent 12 years in the NFL with the Buccaneers and Raiders, also claims that he has lost his Super Bowl ring.

Lol, i dont know how they just blow it all. They know damn well that its a short career, yet they just spend spend spend. They should know from growing up poor that you gotta manage your money!!!!!!!!!!1

LMAO

45 grand a month. Jesus.

OOOPs!

I'm not surprised, at all.

$45,000 a ****ing month and bankrupt? ****ing idiot.

I wonder how R8ers feels about his home boy.

Yeah, WTF? I'd sucks dicks for 45k/mo.

LOL. What a doucher.

He can vanish into the either

I never liked the guy off the field. He always had a questionable reputation down in Tampa.

Sucks for him.

I never really think he lived up to the hype as a Raider... I think he is a big mouthed blow hard


Oh pardon me, I was suppose to be upset about this I suppose

I bet he is making a nice chunk of change on the NFLN

Read much? :hmmm:

45k a month and filing bankruptcy .... ROFL

Now you are catching on.

Couple of mixed drinks going on here :D

Dear lord what a ****ing clown

Sure he did. That is where all players go when they are past their prime for their career to die.

Sapp says he only has $6.45 million to his name ... and lists all of his assets in the documents ... which include:

-- 240 pairs of Jordan sneakers and sandals
-- Large Nude women painting
-- Lion skin rug (female - lioness)
-- Nike golf clubs
-- De Grisogono watch (scratch on crystal, nicks and scratches on band)
-- A boxing glove signed by Muhammad Ali

That's convenient. Just had it right here, filed for bankruptcy, now I can't find it anywhere...

I said I was debt free, I never said I was rich

If only R8ers could have been around for his personal financial advisor.

You can bet your ass he wouldn't have been filing bankruptcy...

Good. That piece of shit is an awful human being. **** him.

I honestly dont know how many of these guys can go bankrupt with all the money they make?

On the other hand, eh...who gives a shit really.

Is is that hard to understand really? These guys are not exactly Rhode Scholars.

So let's say he's getting 10k per show on Showtime, guy can't live on 660K per year? I feel no pity or sorrow, especially since he's a deadbeat dad and a tax dodger.

Yes it is. They make 10, 15, 20 x's more than the avg person yet they are broke.

Im in awe.

LMAO

"Rhodes Scholars"

That is what he meant by "not exactly".

Brunell got caught in a Ponzi scheme, or somesuch. Sapp is a deadbeat that has no clue how to manage money. Both are idiots, but Sapp wins that race by a mile.

Shut up, you. How dare you ruin my perfectly funny post.

It wasn't that funny

my monies sez that his weed dealer overcharges.

Noted

The man has to eat!!!!

The stories I've heard about him since I've moved down here are that he was a wild party animal and **** anything that offered themselfs , if true

I don't know, is there?

I'll never own 240 shoes over my lifetime

:spock:

Unless someone had a gun to his head telling him to buy all that shit in his house, I think I'm going to have to say yes. Throw in that he obviously did not employ a CPA despite having millions (or the one he did was just awful), that equals Sapp having noone to blame but himself.

they play and live without fear.

I'm being trolled here.

Yeah, there are different ones.

For example, you got caught up in one where you lose all your brain cells.

Um you get caught in a ponzi scheme by not knowing how to manage your money.
Posted via Mobile Device

Its hilarious though. He made more a month than the vast majority of people make a year. That's on top of what he earned in football. And now hes broke. That's just funny to me.
Posted via Mobile Device

It's stupid for either one of them to be broke

Bullshit. You would have told him what to do and he would have laughed in your face. Jackass would still be bankrupt. Hopefully you're not naive enough to think he hasn't been advised by anyone as smart as you.

They may be richer than me but not smarter all revolves around culture

Probably not, as to my knowledge Brunell never owed hundreds of thousands of dollars in back child support. That throws Sapp squarely in the dumbass catagory.

I'm not looking it up, but I thought I read he gave a huge chunk of his money to an investor that he trusted, and that guy ended up losing Brunell's money on some bullshit investment. I may be wrong about that.

In all fairness, the dude swears he takes care of his kids and says it's alimony he is behind

even more stupid to be a N00b asking stupid questions

and he lost his super bowl ring? wow, how can people be so bad with so much money? If my bank account could just have a two million dollar balance, I would certainly figure out a way to never work again and retire comfy forever.

Learn how to use a Calculator and spend less that you make... Whats the problem?

Are you saying that you are smarter than anybody that advised Sapp? Really?

Impossible to answer but I am smarter than Sapp

Shit, I'm smarter than sapp and I just paid seventy five cents for a condom!

Are any of his 300 children old enough to support him?

No argument that Sapp is way dumber than you, but my original point of Sapp would still be ****ing bankrupt even if you were advising him.

You damn skippy :clap:

Warren Sapp wouldn't be broke right now if he bought everything out of bathroom dispensers like I do.

You can't fix stupid my friend, if he didn't listen to them he would not listen to me... I am not a genius, never claimed to be, I live by the principle to spend less than you earn... and thats all I got

No kidding. If I had a chance to live off a large lump of money, I'd find a way to budget myself over the course of a lifetime. Hell you could live off the interest...very comfortably. The guy's a total idiot.

This is surprising, because I always thought that Sapp was pretty smart, other than the drug thing when he was drafted.

I do. It's the way he presents himself and the thugs he chooses to keep around. And the fact he's a tool.

Yeah, plus he went to Miami. A strong academic program.....:)

Still, college education is better than none, and I'd contend that some here who haven't gone to college would manage their money a hell of a lot better than this guy.

Out of interest, where you would you invest USD$2M these days safely and make enough interest to live off?

I honestly have no idea.

It'd be a great problem to have...

Yeah no shit man. Whether I was good with money or not, I'm sure I could make Warren Sapp's loot last longer than he did.

He's a sapp

I don't think you could, because the taxes would eat it alive, imo.

Seriously, part of a team's contract when they draft a guy should be classes with a financial advisor or something, the league should mandate that. If they don't already.

live like a king .. suffer the rasp .....

one who sucks the penis....

what's the CP over/under on 3 4 being sapp or one of sapp's ill-advisers?

I doubt if that would've really helped.

Makes you wonder how many other former players NFL or otherwise are out there teetering on the verge of bankruptcy.

No violins here.

I know they hold a rookie event before the season starts where all the rookies are taught how to manage their money by the NFL. I remember reading about the rookies possibly missing out on the event because of the lockout.