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)