Christian Laettner must come up with $14.05 million or face involuntary bankruptcy. USATSI

Christian Laettner, the 1992 national player of the year at Duke and 13-year NBA veteran, has dealt with financial issues in his post-playing career. Laettner has asked federal judges for extensions and reprieves to settle his debts, many stemming from real estate projects, but now faces involuntary bankruptcy if he does not pay $14.05 million to his creditors.

According to the News & Observer, five of Laettner's creditors started involuntary bankruptcy proceedings last week. Fuller Street Development, a company which lists Laettner as a partner, recently received $28.3 million in the sale of Phase II of the West Village mixed-use project in downtown Durham.

Laettner's attorney, Hassan Zavaereei, told the News & Observer the sale of the West Village should help bring this matter to a resolution.

"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," Zavareei said. "As such, the negotiations are ongoing."

Laettner's financial issues have included being sued by Scottie Pippen and Shawne Merriman in 2012 and the foreclosure of his $3.65 million mansion in Florida.