Saturday, April 7, 2012

Warren Sapp Files For Bankruptcy

Warren Sapp who has thrilled many people on and off the field with his bright smile has filed for bankruptcy. It is hard to believe Sapp is in financial trouble, but according to his filing that is the case. Sapp was the anchor of the Tampa Bay Buccaneers defensive line for many years, but apparently he was not good with his money. Sapp lists  $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.

He has an average monthly income is $115,881, according to the filings, and 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. His contract with the NFL Network ends in August, the filings show, and it was unknown if the contract will be renewed. It's just another case of a former NFL player who should have took money management courses in college, as he could use them right now. For most fans it's hard to understand how a former NFL player could lose it all so fast, but it happens.

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