Blog Entry

Report: Bank sues Stephon Marbury for $16 million

Posted on: July 31, 2011 1:04 pm
 
Posted by Ben Golliverstephon-marbury

The Stephon Marbury Story is a long, winding tale with chapters upon chapters of difficult to believe vignettes and episodes. Remember the time he ate vaseline on a live internet video stream? Remember those times he gave rambling, incoherent interviews about his relationship with God? 

And, of course, remember the time back in 2006 when he launched Starbury sneakers with the goal of making ultra low-cost basketball shoes available to the wider public. That one was an excellent idea, at least morally, but it didn't quite work out. Marbury bounced to play basketball in China and we didn't hear much more about them, especially after Steve & Barry's, Starbury's main retail partner, went bankrupt

Well, Deadspin.com now reports that Marbury now faces financial problems with regard to his apparal company too, as there in an "ongoing case in Montgomery County, Ohio, in which an affiliate of Wachovia/Wells Fargo is suing" Marbury for more than $16 million.
The balance due and owing on the Note, as of September 11, 2010, is the principal balance of $16,063,179.49, together with default interest, late charges, sums advanced for the protection of the Property, attorney's fees, and all other sums due under the Note, the Mortgage, and other applicable loan documents. 

Essentially, Marbury guaranteed a $16-million loan to Starbury, the company. Starbury the company hasn't paid the loan back, so now Starbury the former Knicks point guard has to. The collateral he put up for the loan only covered a small part of the judgment against him.  
Basketball-Reference.com reports that Marbury's career earnings topped $151 million, so he should be totally cool to pay this back without any problem. Um, maybe. Hopefully?

Marbury, 34, still plays professionally in China, for the Foshan Dralions. He was the MVP of the Chinese Basketball Association's All-Star Game in 2010. 

He averaged 19.3 points and 7.6 assists in a 13-year NBA career that included stops with the Minnesota Timberwolves, New Jersey Nets, Phoenix Suns, New York Knicks and Boston Celtics.
Category: NBA
Comments
tiredofcrap2
Since: Feb 13, 2009
Posted on: August 3, 2011 2:40 pm
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tiredofcrap2
Since: Feb 13, 2009
Posted on: August 3, 2011 12:36 pm
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Since: Aug 25, 2006
Posted on: August 2, 2011 12:25 am
 

Report: Bank sues Stephon Marbury for $16 million

funny how folks who swim in shark infested waters and jump out of air planes seem to think they are highly intelligent oh and my favorite have sex with animals creating diseases then playing it on immigrants giving new meaning to the phrase petting zoo lol...you devils are so smart how come asian is kicking your azz  in technology and lets not talk about the difference in education lol white supremacy is a myth unless you consider jewish anglos saxon lol and i sure the kkk your red neck cousins would disagree with that so basically again cry and whine on this site lol while the nba players make more in a year then you in a lifetime lol 


i cant really comprehend much of the junk you just spewed....its in a language allright...just not english

i dont really care that they make alot of money...because virtually all of them are broke shortly after the gravy train ends..they are too stupid to take care of the money they earn and lavishly spend on crap....rack up debt then cry about how it wasnt their own fault

so do me a favor strquafa,,quit stealing cars 



Since: Jun 25, 2009
Posted on: August 2, 2011 12:24 am
 

Report: Bank sues Stephon Marbury for $16 million

Actually the majority of NBA players and professional athletes come from stable, 2 parent middle class families. 

Yeah right !!! LOL   The New York times reported just a year ago that 70 percent of black children are born out of wedlock.  Considering most NBA players are black, how in God's name can you possibly say most come from 2 parent middle class families?  Sorry man, the real numbers out there don't support your argument.
 



Since: May 20, 2008
Posted on: August 1, 2011 4:10 pm
 

Report: Bank sues Stephon Marbury for $16 million

Actually the majority of NBA players and professional athletes come from stable, 2 parent middle class families.  Bunch of studies were just done that show since the 90's a significant shift has been made from inner city to suburbs when it comes to professional atheletes, regardless of race. 



Since: Aug 8, 2007
Posted on: August 1, 2011 2:58 pm
 

Report: Bank sues Stephon Marbury for $16 million

Hey, CBS - you have a bunch of ignorant racist comments being posted on your site and no means of reporting them... way to take responsibility. Nice website. I'm sure you'll go far.



Since: Nov 24, 2010
Posted on: August 1, 2011 9:39 am
 

Report: Bank sues Stephon Marbury for $16 million

Wow...if Cubby201 is a superstar on this forum, I'm more than happy to be a rookie. You are a dope, son.



Since: Jan 5, 2009
Posted on: August 1, 2011 8:48 am
 

Report: Bank sues Stephon Marbury for $16 million

I'm thinking he doesn't have a lot of the $151 million he made as a NBA player left...

Failed business ventures, poor money choices & let's not forget our favorite UNCLE SAM !


tiredofcrap2
Since: Feb 13, 2009
Posted on: August 1, 2011 2:18 am
This comment has been removed.

Post Deleted by Administrator




Since: Nov 14, 2009
Posted on: August 1, 2011 1:31 am
 

Report: Bank sues Stephon Marbury for $16 million

Whatever happened to Zach Marbury?  He played for Rhode Island but left school to declare eligible for the NBA Draft.  The only problem... he wasn't drafted.  I haven't heard his name much since.  


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