Warren Sapp is Bankrupt

[polamalubeast]

http://espn.go.com/nfl/story/_/id/7785883/warren-sapp-files-bankruptcy-more-67-million-debt



ORT LAUDERDALE, Fla. -- Former NFL star Warren Sapp owes more than $6.7 million to creditors and back child support and alimony, according to a Chapter 7 bankruptcy filing in South Florida.

Sapp's $6.45 million in assets includes 240 pairs of Jordan athletic shoes worth almost $6,500, a $2,250 watch and a lion skin rug worth $1,200. He also reported losing his 2002 Super Bowl ring with the Bucs and his 1991 national championship ring from the University of Miami.

[fansince'76]

Sapp's average monthly income is $115,881...

Fat dipshit. That's more than most people make in a YEAR.

[ShutDown24]

I read this story this morning. Gave me a good laugh.

[Count Steeler]

Old and slow and not too bright.

Just amazing how many millionaires go bankrupt.

[Chidi29]

Because every grown adult needs 240 pairs of shoes...

[steelreserve]

If you remember a couple months back, there was some ruling where he had to pay $700,000 a year in child support and he was pretty unhappy about it (as he should be). Seems pretty obvious this is just a legal maneuver to get that back into court so it can be tossed out and/or start a child custody fight.

However big of a dickhead I think Sapp is, I wouldn't put him in the category of "omg another dumb athlete who squandered it all." People will do that anyway because they have a grudge against him, but it really looks more like a guy who legitimately got dicked over by the system and now ends up having to try tactics like this.

[O'Malley]

He deserves anything bad that comes his way.. He was never as good as he was hyped to be and talks more smack then anybody in the history of smack talk.. Old and Slow? How about fat and stupid, now broke!!!!!! Duesche bag Sapp!!!

[zulater]

He also reported losing his 2002 Super Bowl ring with the Bucs and his 1991 national championship ring from the University of Miami.

I'm guessing he's trying to keep these out of the hands of his creditors, so they'll become "unlost" as soon as he's financially solvent.

[SteelGhost]

I just HOPE he NEVER appears in NFL network again, he's a tool.

[Devilsdancefloor]

I'm guessing he's trying to keep these out of the hands of his creditors, so they'll become "unlost" as soon as he's financially solvent.

LMAO my thoughts exactly "well look at that they where in the safe after all"

[Steeldude]

Is anyone surprised?

Did someone say $700,000 in child support per month? That is just out of this world. There is no reason at all that could justify anywhere near that much money for child support. What parent needs more than $2000 a month for child support?

[Galax Steeler]

Is anyone surprised?

Did someone say $700,000 in child support per month? That is just out of this world. There is no reason at all that could justify anywhere near that much money for child support. What parent needs more than $2000 a month for child support?

Well said

[zulater]

Rumor has it that Sapp is also unemployed.


http://profootballtalk.nbcsports.com/2012/04/08/report-sapp-likely-out-at-nfl-network/


When former NFL defensive tackle Warren Sapp recently declared bankruptcy, he listed his income at $45,000 per month from NFL Network on a contract that expires in August 2012. Sapp said in the paperwork he’s not sure if the contract will be extended.

According to Greg Bedard of the Boston Globe, it probably won’t be.

Bedard reports, citing two league sources, that Sapp’s employment is “likely over,” and that Sapp has not been on NFL Network in the two-plus weeks since he went on the air and outed former Saints tight end Jeremy Shockey as the player who blew the whistle on the Saints’ bounty system in 2011.


Going to be hard to meet those child support payments now. Even though I don't like the guy, and think he was shitty at his job ( but who isn't at NFL network?) I fell sorry for him. There's no way that he should be obligated to pay that sort of outrageous child support when his income and earning capacity clearly show he's incapable of doing so.

[Count Steeler]

Is anyone surprised?

Did someone say $700,000 in child support per month? That is just out of this world. There is no reason at all that could justify anywhere near that much money for child support. What parent needs more than $2000 a month for child support?

For the average person, that should be enough. However, the courts also look at the status of life that the family is accustomed to, and the income of the supporting parent. Unfortunately for Warren he had a piss poor lawyer if they did not negotiate an annual reconciliation for the support payments. If his income goes down, the child support should go down accordingly.

[Count Steeler]

Child support is more about income sharing than covering costs.

[zulater]

Child support is more about income sharing than covering costs.

It shouldn't be a get rich quick scheme for baby mama's though. Which way too often it is.

[Count Steeler]

It shouldn't be a get rich quick scheme for baby mama's though. Which way too often it is.

Athletes should wear helmets on and off the field. If you know what I mean.

[steelreserve]

For the average person, that should be enough. However, the courts also look at the status of life that the family is accustomed to, and the income of the supporting parent. Unfortunately for Warren he had a piss poor lawyer if they did not negotiate an annual reconciliation for the support payments. If his income goes down, the child support should go down accordingly.

Pretty simple in my mind: If you were accustomed to a certain quality of life, and you want to keep it but your mother can't provide it ... you come live with me. Paying that kind of money in child support pretty much guarantees that 1) most of it isn't going to help the child, the mother is using it for her own superficial splurging; 2) The child is going to be spoiled and horribly entitled; 3) The child is going to learn by example that it's ok if you never have to work for anything in your life; just sit back and hope some big jackpot finds its way to you. If it's a girl, maybe she becomes as big a golddigger as her mother.

Pathetic all the way around, no matter what you think of the guy.

[smokin3000gt]

Agreed.. There should be a cap for child support.

[steelreserve]

Agreed.. There should be a cap for child support.

Heh ... that just made a whole ton of jokes come to mind.

"Sorry Timmy, we just extended Johnny for four years at $1,200 a month, and the signing bonus just blows our cap. We really want to keep you in the family, but you've had a reduced role lately, so you'll have to restructure to make it happen. ... Let's see, Cindy is only 3, so we can just give her the first-round tender and I'm pretty sure if the Andersons make an offer, we can match it. ... Sorry, Mike, we have no choice but to slap you with the tranny tag; don't take it the wrong way."

[Count Steeler]

Pretty simple in my mind: If you were accustomed to a certain quality of life, and you want to keep it but your mother can't provide it ... you come live with me. Paying that kind of money in child support pretty much guarantees that 1) most of it isn't going to help the child, the mother is using it for her own superficial splurging; 2) The child is going to be spoiled and horribly entitled; 3) The child is going to learn by example that it's ok if you never have to work for anything in your life; just sit back and hope some big jackpot finds its way to you. If it's a girl, maybe she becomes as big a golddigger as her mother.

Pathetic all the way around, no matter what you think of the guy.

We are talking on a very superficial basis here, and you have a scenario in your mind that does not match mine. I believe the circumstances of the divorce and or child support battle will dictate the amount of child support.

If Sapp, who has much more money than his "baby mama" could only get this kind of settlement, than what does that tell you? He had a bone head of a lawyer, or there was merit, based on the facts of the case, to award the "baby mama" the amount prescribed by the court.

If Sapp is using this tactic to vacate his responsibility of child support, perhaps he did hire a bone head of a lawyer.

[steelreserve]

We are talking on a very superficial basis here, and you have a scenario in your mind that does not match mine. I believe the circumstances of the divorce and or child support battle will dictate the amount of child support.

If Sapp, who has much more money than his "baby mama" could only get this kind of settlement, than what does that tell you? He had a bone head of a lawyer, or there was merit, based on the facts of the case, to award the "baby mama" the amount prescribed by the court.

If Sapp is using this tactic to vacate his responsibility of child support, perhaps he did hire a bone head of a lawyer.

Just as likely his ex used his money to hire an equally good lawyer when they were going through the divorce, then the courts spit out a judgment favoring the woman, which is what they usually do.

Even if that's not how it went and you're exactly right, there are no circumstances, short of the dad having all his money taken away because he's going to jail for a long stretch, that justify that amount of child support or alimony, regardless of how dumb someone's lawyer was. None. I don't see it as "vacating" any responsibility at all, so long as the kids are getting enough to be fed and go to school and not live in a slum. More likely the judge is living on another planet than I am.

[BigNastyDefense]

I really don't give a damn about Sapp. The guy is a jackass who had absolutely no financial responsibility about him. The guy likely spent money like it grew on a tree in his backyard.

I didn't read the article...but the $700k child support...is it for one kid or multiple kids? Because I think Sapp was the type of player that slept around and didn't think twice about getting the woman pregnant or contracting an STD. If it's multiple kids, I see why he's paying so much money. If it's one kid, that's a ton of money and he hired an absolutely horrible lawyer to handle his side of the custody battle.

[steelpinstripe87]

I read that as one pair of Jordan athletic shoes and was like, "Those shoes better be made of gold to be worth that much." This just shows that I'm tired and should go to bed. And how many kids does he have that he's paying $700,000 in child support?

[Steeldude]

Child support is more about income sharing than covering costs.

It shouldn't be. I am all for the child being supported, but $700,000 a month? That's not even anywhere in the realm of realistic.

[Count Steeler]

It shouldn't be. I am all for the child being supported, but $700,000 a month? That's not even anywhere in the realm of realistic.

Not sure about the US, but it is a pretty cut and dried formula here in Ontario. Simplified, Income of spouse without the child * percentage prescribed = child support. Of course the parent without the child tries to hide income and make arguments about the gross level of child support that is being awarded. That is why the lawyers just love these cases. Easily start at $50,000 per case.

[Count Steeler]

Just as likely his ex used his money to hire an equally good lawyer when they were going through the divorce, then the courts spit out a judgment favoring the woman, which is what they usually do.

Even if that's not how it went and you're exactly right, there are no circumstances, short of the dad having all his money taken away because he's going to jail for a long stretch, that justify that amount of child support or alimony, regardless of how dumb someone's lawyer was. None. I don't see it as "vacating" any responsibility at all, so long as the kids are getting enough to be fed and go to school and not live in a slum. More likely the judge is living on another planet than I am.

Again, not sure how it is decided in the US, but here in Ontario a percentage is applied to the income of the person that does not have the child. This covers not only the "costs" put is meant to keep the child in the status that would have been afforded, had their not been a divorce.

[venom]

Sell the sneakers

[steelreserve]

Again, not sure how it is decided in the US, but here in Ontario a percentage is applied to the income of the person that does not have the child. This covers not only the "costs" put is meant to keep the child in the status that would have been afforded, had their not been a divorce.

Again, if the want the children to keep the same status and lifestyle, then have them go live with the parent who's making the money that provided that lifestyle and status. Otherwise, the other parent just spends most of it on themselves, especially if it's an amount as ridiculous as $700,000 a year. I have no doubt that most of what Warren Sapp pays to his ex goes to pay for her Porsche, fancy nights out and vacations with other men, 3 massages a week, and a nanny so she doesn't actually have to raise the kids and can go buttfuck the mailman instead.

I'm sorry if things are even more screwed up in Canada.

[suitanim]

If he is unemployed, he can request a hearing and have the amount reduced. He can also request that he be let off the hook for all future child support payments (as long as he has no or little income), and only be responsible for the arrears. I know some people going through these kinds of things, and it's an evil process. There is one guy involved who has a masters in engineering, and refuses to work JUST SO HE HAS NO INCOME so he can't be forced to pay child support. Plus people use their kids like battering rams against each other.

I'm not sure how it's even possible that out of an income of about 1.38 million you could be responsible for 700k in child support, because it would actually set the amount above what you'd bring home in taxes.

Regardless, I have no sympathy for this idiot. he clearly did not take care of his business, and almost certainly not only did not invest, he blew most or all of his dough. Plus he's an asshole and a tool, so fuck him.

[Edman]

I have no sympathy for anyone who is dumb enough to get into "the system".

Ridiculous Child Support or not, Sapp like so many other clowns out there, are just as much at fault as the mothers. If these "playas" thought with their brains instead of their penises, they wouldn't put themselves in that position.

Both sides are bad here, so I have no sympathy for Tree Sapp and dudes like him (Holmes, Cromartie...). Don't like the responsibility? Close your legs.

[BlacknGoldBabe]

Never heard of child support listed on a bankruptcy proceeding. If he had problems paying it, he should have gone to court for a reduction. The judge in that case ought to have had his fat ass thrown in the slammer for not paying.

People, you make the babies. They don't ASK to be brought into this world, so grow up, suck it up, take the resposibility and PAY FOR YOUR CHILDREN.

[SteelGhost]

Rumor has it that Sapp is also unemployed.


http://profootballtalk.nbcsports.com/2012/04/08/report-sapp-likely-out-at-nfl-network/




I know the article comes from PFT, but I EXPECT this time it's an accurate one :D

[smokin3000gt]

Never heard of child support listed on a bankruptcy proceeding. If he had problems paying it, he should have gone to court for a reduction. The judge in that case ought to have had his fat ass thrown in the slammer for not paying.

People, you make the babies. They don't ASK to be brought into this world, so grow up, suck it up, take the resposibility and PAY FOR YOUR CHILDREN.

It would be easier to pay child support if it wasn't always so ridiculous. He's probably already paid enough to raise those kids.