Former Duke Star Christian Laettner Files For Bankruptcy; $14 Million in Debt
Former Duke star, Christian Laettner, who made his name being one of the most hated college basketball players of all-time, is reportedly in financial debt.
According to the Charlotte Observer, Laettner owes creditors $14M after a series of failed business ventures. This comes months after finishing a development in Downtown Durham which sold for $187 million and Laettner being listed as a partner with Fuller St. Development who received $28 million of said settlement.
Below is the current list of which people/companies are seeking repayment:
- National Servicing & Administration, a limited liability corporation based in Minnesota, where Laettner played for the Timberwolves in the NBA: $7,321,230
- Ernest Sims, III, a former Detroit Lions linebacker: $1,482,730
- Jonathan C. Stewart, a Carolina Panthers running back: $3,629,230
- Park Lane, a sports investment firm started by Andrew Kline, who played for the St. Louis Rams.: $236,193; and
- D&F DCU LLC: $1,382,545
Yes, you read that correctly, he owes Carolina Panthers running back Jonathan Stewart over $3 million.
Laettner’s lawyer had this to say:
“We are optimistic that the funds from the sale of the West Village can be used to reach a global resolution with all of Christian’s creditors,” said Hassan Zavareei, a Washington-based lawyer representing Laettner. “As such, the negotiations are ongoing.”
Laettner earned over $61 million as an NBA player, but he has been on the receiving end of many lawsuits since his playing days.
“In 2012, he was sued for $30 million by former Chicago Bulls stalwart Scottie Pippen and others. Shawne Merriman, a former San Diego Charger and Buffalo Bill, also has had to go to court to pursue money he loaned Laettner.”