Broke Baller Still Beverly Hills. Michigan, That Is

Today’s bankrupt former NBA baller is brought to you by former first-overall NBA Draft pick Derrick Coleman, who made $87 million during his 15-year career in The League but this week in a Detroit bankruptcy court reported $5 million in debt against $1 million in assets.

Derrick Coleman Bankruptcy. Living In Beverly Hills Michigan

Coleman’s bankruptcy lawyer Mark Berke blamed the economy for Coleman’s financial condition. Along with Coleman’s desire to help revitalize depressed Detroit neighborhoods:

“Mr. Coleman was focused on investing in various communities throughout the city of Detroit by developing real estate, creating jobs and revitalizing business opportunities. Due to the state of the economy, including the decline in the real estate market, Mr. Coleman’s investments could not be sustained.”

So Coleman’s investments in the community did him in. Not the two chinchilla and three mink fur coats now worth (only) a total of $15,000 that he listed as assets in his bankruptcy court filing. Or his 1997 Bentley convertible now worth just $50,000.

Listed among his millions in debt is a $50,000 personal loan from former NBA star and current Detroit Mayor Dave Bing.

Derrick Coleman Bankruptcy. Living In Beverly Hills Michigan

Since’s Coleman’s bankruptcy was due to creating jobs in the Detroit community, I’m sure Mayor Bing won’t expect the money he gave to Coleman to be returned.

What really caught my interest though in this story was the residence Coleman asked the bankruptcy judge to allow him to keep:

Coleman said in a court filing he plans to keep his home in Beverly Hills, worth about $168,000.

Wait, a $168,000 home in Beverly Hills? Only thing I thought you could currently get for $168K in BH was a platinum-plated shoehorn at Bijan. (Clearance.)

Like 99.9% of you, I assumed that to be Beverly Hills, California. But I was wrong.

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NBA’s Derrick Coleman Is Going Out Of Business

Everyone has it bad during the current economic downturn, but some may have it even worse than others. That includes professional athletes who made really made forays into the world of free enterprise. If you had Derrick Coleman on the list of former ballers turned failed entrepreneurs that popped into your head, pat yourself on the back; ol’ DC is going out of business, literally.

derrick coleman

According to FANHOUSE’s expert sleuthing, the former would-be star turned uber-bust is having to liquidate everything he owns. Yes, everything, at a whopping 75 percent off. It’s like one of those “electronic liquidation events” you see advertised at “Enter Your City’s Convention Center Here” every weekend, except everything was once owned by one of the biggest NBA Draft flops in recorded history. Just think, you too can own the porcelain toilet from Derrick Coleman’s spare bedroom! And it’s 75 percent off! What a steal!

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Blog-O-Palooza: Blogs Are Taking Over The World

  • Ryan Parker is back with his latest song, an ode to sports blogs in the wake of the Will Leitch/Buzz Bissinger fiasco. We were happy to be mentioned.

Buzz Bissinger Will Leitch Costas Now

  • ODENIZED has his take on the Bruce Bowen - Chris Paul mini-melee from last night’s game (with video). Read more…

Roos Shoos Back In The Noos With Sneaker Relaunch In America

SPREAD THE NOOS, PAYTON’S FAVORITE SHOOS ARE BACK!: The BOSTON HERALD reports that the old sneaker band Roos is making a comeback in the U.S. retail market. A Massachusetts-based company has “secured a license from U.K.-based Pentland Group to sell KangaRoos athletic shoes in the U.S. beginning this month, and the company plans to ‘expand into KangaRoos clothing and accessories.’

KangaRoos shoes

Our one memory of the ’80s version of the shoe was the late, great Walter Payton’s association with the brand.

Walter Payton Roos

We think Sweetness was the only major endorser of the eclectic kicks (”check out our pockets!“), which certainly earns him a place in the pantheon of footwear endorsement greats, like Derrick Coleman (British Knights), Karl Malone (L.A. Gear), and O.J. Simpson (Dingo Boots):

OJ Dingo Boots Karl Malone

Sadly, Roos shoes went extinct faster than the Bears’ playoff chances following the glory of Payton’s mid-’80s Bears teams. But here’s hoping the noo shoos will once again finally catch the nation’s fancy thanks to rapidly multiplying retail outlets.

Kangaroos Mating