October 9th, 2012 by faye
Former NFL defensive tackle Warren Sapp has a chance to purchase back some of the items he lost in his bankruptcy case, which includes jewelry and a surfboard.
According to the new legal docs filed in his bankruptcy case, 39-year-old Warren Sapp has struck a deal with the trustee — which will allow him to buy back some of his old belongings — including furniture, jewelry, a storage container and the rights to his missing 2002 Super Bowl ring.
In order to get his items back Warren Sapp needs to get a judge to sign off on the arrangement — and fork over a total of $69,284.58 in one lump sum.
Previous reports have stated that NFL legend Sapp filed for Chapter 7 bankruptcy earlier this year after claiming he was millions of dollars in debt. He was subsequently forced to hand over almost all of his possessions to a trustee, who’s been tasked with selling the items to pay off Sapp’s creditors.
However, the trustee did not give Warren Sapp the chance to buy back his huge collection of Air Jordans, which is estimated to be worth $50,000. As of now, the shoes are still on track to be sold.
Sapp is known as a former American college and professional football player who was defensive tackle in the National Football League (NFL) for thirteen seasons. He played college football for the University of Miami Hurricanes, was recognized as a consensus All-American and won several awards. He was drafted by the Tampa Bay Buccaneers in the 1995 NFL Draft as the 12th overall pick, and played professionally for the Buccaneers and the Oakland Raiders of the NFL. Warren Sapp spent nine seasons with the Buccaneers where he earned seven trips to the Pro Bowl and a Super Bowl ring in 2002. He moved to the Raiders in 2004.
Sapp’s 96.5 career sacks (100 counting the playoffs) are the second-highest career total sacks for a defensive tackle and the 28th highest overall for a defensive lineman. His 77 sacks with the Buccaneers is second in the team’s history.
During Sapp’s career, he was the source of some controversy because of his hard-hitting style of play and his occasional verbal outbursts, both on the field and off. Some of these resulted in NFL fines, and he was once removed from a game due to unsportsmanlike conduct.
September 28th, 2012 by faye
National Football League defensive tackle Warren Sapp has some good financial news he can celebrate — a federal judge has just cleared a huge part of overwhelming debt by discharging the football player from his bankruptcy case.
As previous reports have stated, 39-year-old Warren Sapp filed for Chapter 7 bankruptcy back in April, claiming he owed more than $6.7 million to creditors, but he only had $6.45 million in assets. These assets included his 240 Air Jordans, a lion skin rug and a boxing glove signed by Muhammad Ali. But on September 24, a judge in Florida decided that the financial house of Warren Sapp was in order, therefore deciding to discharge him from bankruptcy.
However, the NFL star is not completely cleared of his financial woes. Warren Sapp is still on the hook for hundred of thousands of dollars in tax debt, alimony and child support — which is not covered by his Chapter 7 filing.
Warren Sapp played college football for the University of Miami Hurricanes and was recognized as a consensus All-American and won several awards. He was drafted by the Tampa Bay Buccaneers in the 1995 NFL Draft as the 12th overall pick, and played professionally for the Buccaneers and the Oakland Raiders of the NFL. He spent nine seasons with the Buccaneers where he earned seven trips to the Pro Bowl and a Super
Bowl ring in 2002. He moved to the Raiders back in 2004.
His 96.5 career sacks (100 counting the playoffs) are the second-highest career total sacks for a defensive tackle and the 28th highest overall for a defensive lineman, while his 77 sacks with the Buccaneers is second in the team’s history.
During the football career of Warren Sapp, he was the source of some controversy because of his hard-hitting style of play and his occasional verbal outbursts, both on the field and off. Some of these resulted in NFL fines, and he was once ejected from a game for unsportsmanlike conduct.
August 6th, 2012 by faye
The entire collection of rare Air Jordans by former NFL defensive tackle Warren Sapp is up for auction as the creditors demand cash from Sapp, who just filed for bankruptcy earlier this year.
According to reports, the epic collection of Warren Sapp — which consists of 240 pairs of Air Jordans — designed and produced for Nike by now-retired basketball legend Michael Jordan, is now up for auction and is worth about $6,500. Some pairs have been worn already, some never touched.
Previous reports have stated that 39-year-old Warren Sapp filed for Chapter 7 Bankruptcy in April, claiming he suffered from millions of dollars in debts since he retired as a defensive tackle from the National Football League. Sapp’s debts also include hundreds of thousands of dollars that he owes in child support payments to four different baby mamas.
All the proceeds of the Air Jordan auction by Warren Sapp are going towards paying back his creditors.
Air Jordans were first released on the sneaker market in 1985, and Michael Jordan himself wore them as a rookie back in 1984. Original Air Jordan pairs from the 1980’s are valued up to $600 a pair.
The Air Jordan line, which is now sold by the Jordan Brand subsidiary of NIke, releases new designs every year, with the Air Jordan 2012 style being promoted together with the timeline: “One Shoe. Three Flights.”
According to court documents, 12-year-NFL veteran and former Oakland Raiders defensive lineman Warren Sapp gave a full rundown of his dreary financial situation. The former football star owes more than $6.7 million to various creditors.
Aside from his extensive child support payments, Sapp also owes $853,000 to the Internal Revenue Service (IRS) for the year 2006, another $89,000 for year 2010, and $2,858 in medical bills for “Corrective Speech and Language Therapy.”
In the legal docs, Warren Sapp claims he only has $6.45 million to his name, as well as his prized Air Jordans, lists a painting of a large nude woman, a boxing glove signed by Muhammad Ali, Nike golf clubs, and a lion skin rug as his assets.
Sapp last played professional football back in 2007 for the Oakland Raiders, where he played since 2004 after he was drafted by the Tampa Bay Buccaneers in 1995.
April 20th, 2012 by faye
Former NFL defensive tackle Warren Sapp warned the judge handling his bankruptcy case that tight end Jeremy Shockey might go after him and file a lawsuit after Sapp accused Shockey of being the “snitch” in the NFL bounty scandal.
Previous reports have stated that Jeremy Shockey has been considering taking legal action against Warren Sapp, claiming that the 39-year-old football player went on the NFL network and wrongly accused Jeremy of being the “whistle blower” on the New Orleans Saints just a few months ago.
The bounty scandal involved the New Orleans Saints who were given a ruling after league officials found out that players were encouraged to intentionally injure certain opponents, and were even rewarded with cash prizes.
Now, right after Warren Sapp filed new docs for his bankruptcy case, he listed Jeremy Shockey as a potential creditor, together with a laundry list of other creditors which includes his Sapp’s baby mamas, the Internal Revenue Service, and a speech therapist.
Warren Sapp initially filed for Chapter 7 bankruptcy, claiming he is totally broke. He was required to inform the court about any person who could make a financial claim against him, and so he included Jeremy Shockey as one of them.
April 11th, 2012 by faye
Former NFL defensive tackle Warren Sapp has reportedly filed for bankruptcy and owes millions of debt to various people.
According to reports, the 39-year-old NFL star has filed for Chapter 7 Bankruptcy in Florida, wherein he stated in the bankruptcy docs his dire financial situation. Warren Sapp owes more than $6.7 million to various creditors, including hundreds of thousands of dollars in child support payments and alimony to at least four different baby mamas.
Together with filing his Chapter 7 Bankruptcy, Sapp stated his $6.45 million in assets. This includes 240 pairs of Jordan athletic shoes worth almost $6,500, a $2,250 watch and a lion skin rug worth $1,200. The football star also reported losing his 2002 Super Bowl ring with the Bucs and his 1991 national championship ring from the University of Miami.
The legal docs of the filed bankruptcy states that Sapp’s average monthly income is $115,881 which includes $45,000 for a final contract payment with Showtime, $48,000 for an appearance with CCA Sports and $18,675 as an advance for a book deal. The contract of Warren Sapp with the NFL Network ends in August, and it is unknown if the contract will be renewed.
Warren Sapp was arrested in 2010 due to an alleged domestic violence incident at a Miami Beach hotel. He would have faced one count of misdemeanor domestic battery, but prosecutors declined to prosecute saying in court documents that there were inconsistencies in the victim’s statements and evidence.
February 28th, 2012 by faye
Professional football player Warren Sapp says he is no deadbeat dad – amidst the allegations levied against him by his ex-wife. The NFL star says he is not behind on child support, but maybe a little on the alimony, sources close to the football player said.
According to previous reports, Warren Sapp’s ex-wife filed documents in Florida saying that as part of his divorce judgment back in 2007, the football star was ordered to pay $15,000/month in child support for his two kids and an additional $45,000/month in alimony. However, Jamiko, ex-wife of Warren Sapp claims that since March 2010, he hasn’t been following the terms of the judgment. Jamiko said Warren has been paying random amounts each month and NOTHING at all for two of the months. She now claims Warren Sapp’s missed payments for child support and alimony amount to $728,100 and filed a motion asking a judge to enforce their divorce agreement.
Sources close to Warren Sapp said that he is current on his child support and that to Warren, his kids “always come first.” However, it seems like 39-year-old Sapp feels his alimony is too high since his playing days are over and the paychecks he gets as an analyst just don’t stack up.
Warren Sapp has filed docs of his own to have his alimony lowered, but a judge has yet to rule.