Jevon Kearse’s House is Being Foreclosed on

How do you blow this kind of money? From the South Florida Business Journal:

Known as “the freak” for his amazing athletic ability while at the University of Florida, Kearse bought the 6,064-square-foot home along the ocean at 2301 Bay Drive for $6.05 million in 2004. Two years later, he signed a $5.25 million mortgage on it.

That loan is now in foreclosure after Deutsche Bank filed a lawsuit on Dec. 19. Kearse’s attorney, Marc A. Marra in Weston, couldn’t be reached for comment.

Kearse started his career in 1999 with the Tennessee Titans. In 2004, the year he bought the house, he signed an eight-year $65 million deal with the Philadelphia Eagles that included a $16 million signing bonus. He helped the Eagles reach the Super Bowl that year. However, the Eagles released him in early 2008 and voided the final three years of his contract.

 

The article mentions that the IRS also filed a tax lien against Kearse in November. 

H/T to (@PHLBizLawBank)

5 Comments

  1. charles murphy hit the nail on the head. pro athletes who go broke can most often attribute their financial rock bottom to the combination of excessive spending, foolish investments, and supporting the lifestyles of the leeches who cling to them. furthermore, because they are often treated like superman during their playing days, many of these athletes neglect to realize they will age and with their aging their craft and skill will diminish as well meaning when they are 45, they will not be making the same money as when they were 25. simply put, the think the well is endless when in fact one day that well will eventually run dry. the problem is they were to busy spilling, spraying, and wasting water instead of saving it!

  2. Does this ever happen to white athletes? Dykstra doesn’t count as he was a criminsl while most of these guys just seem to be dumb.

  3. This happens to many people athletes or not. If you’re carrying any kind if debt all that needs to happen is there be a financial setback such as a job loss. Watch the documentary ‘Broke’ on ESPN. They listed a whole screen of athletes who filed for bankruptcy. And just about every race was represented. Curt Shilling was on there. And Lenny Dykstra does count.

  4. Curt Schilling blew his wad on a high risk business venture. Lenny Dykstra was a con man living off of the wealthy. The majority of debts black “broke” athletes incur always seem to be related to child support, jewelry, or failed hip hop productions. Just sayin.

  5. I wished he didn’t suck so bad after the Super Bowl.

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