Jan 27, 2011, 8:56 PM EST
One of my theories in life is it’s good to know rich people. Because sometimes they can help you out when things seem pretty hopeless.
Like if you owed the IRS $120,000 to the Internal Revenue Service and weren’t sure how to pay it. That’s the spot former NBA and Miami Heat star Tim Hardaway found himself in, but he knew the rich people that own the Heat. We’ll let the Detroit News explain what happened.
Hardaway, 44, ran into tax trouble in June despite being paid more than $46.6 million during his NBA career. The IRS filed a tax lien against his property and the bill listed his 7,542-square-foot mansion in suburban Miami
On Sept. 3, three months after the lien was filed, Hardaway sold the mansion to Miami Heat Limited Partnership, which owns the Miami Heat….
The Heat paid $1.985 million, according to public records. Today, the Heat is trying to sell the five-bedroom, five-and-a-half-bath estate, which comes with a pool and private basketball court decorated with a Miami Heat logo, for $2.5 million.
Hardaway would not say why the Heat purchased the home. Meanwhile, Hardaway still lives in the house while they try to find a buyer.
I have no idea what Hardaway’s financial situation is, but if he is hurting for cash he would be far from the first pro athlete to make unseemly amounts of bank then be hurting financially within a decade. It happens more often than you think.
Hopefully that’s not Hardaway, he said he was good financially despite the tax lien. He works as a radio color commentator for a network that broadcasts Big 10 college games.
- PBT NBA Power Rankings: At the quarter pole Portland takes the lead 1
- Paul Pierce practiced Monday, could return vs. Celtics Tuesday 1
- Report: Kings not done trading, Jason Thompson next on block 4
- The Extra Pass: Raptors’ salary dump trade could mean a few more wins, too; plus Sunday recaps 1
- Kobe is back but loss to Raptors shows Lakers still have a lot of work to do 15
- LeBron says Wade is “getting that Kobe deal” in next contract. Should he? (65)
- Dwight Howard frustrated with Rockets’ effort in recent losses (52)
- Kobe Bryant dunks, looks good in Lakers practice; Friday return possible (47)
- Michael Beasley finding a role, groove in Miami (44)
- The Extra Pass: Our awards at the quarter pole, plus Monday recaps (43)