Warren Sapp, the former football star, and it’s said one of the top defensive players in the National Football League is being forced to auction off his home in Windermere Florida to cover the huge debt he has after filing for Chapter 7 bankruptcy.
The home is a custom two story estate on Lake Butler in the exclusive “Reserve at Lake Butler Sound” Gated Community. Designed by the famous architect Terry Irwin and built by Akers Custom Homes, the estate has 9,880 square feet of living space that sits on 2.9 acres of prime real estate. Listed for $3.8 million, the 4 bedrooms and 6.5 bathrooms the home also includes 500 feet of frontage on Lake Butler with a boathouse and dock, a boat lift and 2 personal watercraft lifts. There is also a large custom swimming pool, waterfall, lazy river and a full service summer kitchen with a large gas grill with custom vent hood, sink and refrigerator.
Just as public as his NFL career is Sapp’s financial meltdown and the sizeable debt he holds in comparison to his net worth. It is hard to understand how a person who earned $77 million through his career could wind up owing $6.7 million and only have $826.04 in his checking account and $339.31 in his savings account, but if you dig deeper into the story it is a little easier to understand. With debt owed to back taxes totaling over $1 million and monthly alimony and child support payments of over $75,000 a month, I guess it doesn’t take too long to add up.
Along with the auction of his home in November, Sapp is also forced to get rid of his 240 pair of Air Jordan shoes, a boxing glove that was autographed by boxing legend Muhammad Ali, and a lion skin rug among other extravagant collectibles.
[images via mfrmls]