Sapp files for bankruptcy, lost Super Bowl ring

[cyberdude558]

Well, if former Saints tight end Jeremy Shockey is going to sue Warren Sapp, he’d better get in line with the rest of Sapp’s creditors.

Sapp, a likely future Hall of Famer, has declared bankruptcy in Florida, according to TMZ.com.

He has filed under Chapter 7, which will result in full liquidation of his $6.45 million in assets to pay his $6.7 million in debts.

According to the filing, Sapp owes the IRS more than $900,000, and hundreds of thousands of dollars in child support.

He lists his current income as $45,000 per month from NFL Network, on a contract that expires in August 2012.  (He also has worked for Showtime’s Inside the NFL.  It’s unknown whether he’ll continue that assignment in 2012.)

Sapp, who spent 12 years in the NFL with the Buccaneers and Raiders, also claims that he has lost his Super Bowl ring.

http://profootballtalk.nbcsports.com/2012/04/06/sapp-files-bankruptcy/

[GameTime]

wow.  unfrickin-believable.

[BucsFan4090]

No one to blame but himself. This is why handing this type of money to athletes is stupid. They should be required as rookies to pass a mandatory personal financing class before taking the field.

[Morgan]

Don't feel sorry for him whatsoever.

Good thing he's got his "U" education to fall back on.

[Knucknbuc]

Never undestood how athletes or famous people could go broke. Just doesn't make sense to me having so much money. Can't you just pay a financial advisor some money to makesure your dumbass doesn't blow all your millions away.

[Beatles123]

Don't feel sorry for him whatsoever.

Good thing he's got his "U" education to fall back on.

You should. He's a human just like you are. All this "I can't feel sorry for a rich guy" stuff is BS. He got paid for being good at what he does, and if you were in his position, you would feel like you earned it.

Sorry to hear this about Sapp. Money smarts is vital, but he did not deserve to lose his ring.

[Morgan]

I'll save my sympathy for the hardworking guy who lost his job and can't pay the mortgage or put food on his family's table, not an overpaid millionaire loudmouth who lived an extravagant life and doesn't know how to manage his millions.

[BucsFan4090]

Don't feel sorry for him whatsoever.

Good thing he's got his "U" education to fall back on.

You should. He's a human just like you are. All this "I can't feel sorry for a rich guy" stuff is BS. He got paid for being good at what he does, and if you were in his position, you would feel like you earned it.

Sorry to hear this about Sapp. Money smarts is vital, but he did not deserve to lose his ring.

A ring is to symbolize your victory. It is not needed. He knows he won a Superbowl. His name is in the history books. A piece of gold with diamonds doesn't mean anything in the long run.

[GameTime]

you gotta be making some pretty unwise decisions when you make 1mil per year and still declare bankruptcy.

[jcaulfield8]

he says he lost his ring so it isnt one of the items listed that is worth money that they would force him to sell to repay creditors.  he probably owns a house worth a couple million because you cant seize a persons home in florida when they declare bankruptcy. Seems to me this is just someone trying to get out from under mounting debt bill to reduce what he has to pay

[wreck ship]

Does he get in the hof?

[DeltaBuc5]

How do these people blow through dozens of millions of dollars?! HOLY **CENSORED**.

I could live for the next 20 years of my life on just 1 million!

[Bucs N Beers]

he says he lost his ring so it isnt one of the items listed that is worth money that they would force him to sell to repay creditors.  he probably owns a house worth a couple million because you cant seize a persons home in florida when they declare bankruptcy. Seems to me this is just someone trying to get out from under mounting debt bill to reduce what he has to pay

Boom! I think you hit the nail on the head. Donald Trump has filed bankruptcy before. Think he doesn't know how to manage his millions? There's no way he lost his ring. No. Way. It's just hidden reaaalllly well.

[Morgan]

this is why his ring was probably conveniently lost...

http://profootballtalk.nbcsports.com/2011/01/19/ex-nfl-player-chidi-ahanotu-ordered-to-give-up-championship-ring/

[nubcake]

I might feel bad for him if he was a decent guy. Unfortunately that's not the case. Grateful for his play on the field but he's no hero of mine. I hate to sound callous about a former great player, but honestly he brings it in himself with his behavior.