Sunday, July 31, 2011

Bank to Stephon Marbury: Give us back out $16 million

Stephon Marbury
((ht: deadspin))

Sometimes its not so good to be former NBA start Stephon Marbury. Particularly when you have apparently been struggling to find work in China.

According to GQ magazine, his business, the Starbury Corp., a real estate business had to be liquidated to help cover issues in China.

Well, come to find out by doing that, our hero defaulted to at least one fairly large creditor: Wells Fargo/Wachovia Bank.

To the tune of $16 million.

Read more from Deadspin RIGHT HERE

If Marbury liquidated $75 million, then he probably can afford to pay this back. But is absolutely amazing to us that he was able to own a real estate company worth that much money. Sure, he made more than theory over his NBA career to pay that back...but how many NBA million-gazillionaires actually have that much money sitting around to pay off debts like that?

Here's Steph, the businessman on FoxBuisness Channel back in March:

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