Sapp files bankruptcy

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Well, if former Saints tight end Jeremy Shockey is going to sue Warren Sapp, he’d better get in line with the rest of Sapp’s creditors.

Sapp, a likely future Hall of Famer, has declared bankruptcy in Florida, according to TMZ.com.

He has filed under Chapter 7, which will result in full liquidation of his $6.45 million in assets (including a “Large Nude women painting” . . . it’s unclear whether the painting or the women are large) to pay his $6.7 million in debts.

According to the filing, Sapp owes the IRS more than $900,000, along with hundreds of thousands of dollars in child support.

He lists his current income as $45,000 per month from NFL Network, on a contract that expires in August 2012.  (He also has worked for Showtime’s Inside the NFL.  It’s unknown whether he’ll continue that assignment in 2012.)

Sapp, who spent 12 years in the NFL with the Buccaneers and Raiders, also claims that he has lost his Super Bowl ring.

223 responses to “Sapp files bankruptcy

  1. How does one manage to rack up $6.7m in debt? He’s an adult, he’s not a child or young football player who’s seeing money for the first time. You would think that even if he blew all of his player earning (foolish, but whatever), his $500k per year salary at NFL Network would at least keep him afloat. No way anyone who ever took him seriously continues to do so after this. I wish the man good luck in this battle.

  2. 45 grand a month plus what else he makes from showtime and he’s filling bankruptcy.

    Most working people in the united states makes less than 45 k a year and he can not get organized making 45 k a month. Sad Warren Real Sad Man…

  3. Perfect.. Maybe when Shockey also sues you, it will permanently send you back to the gopher hole you came from. It funny cuz he fat!

  4. Warren, here’s a thought… Instead of casting stones left and right, why don’t you mind your own damn business?

    How the hell can he declare bankruptcy with $6.5 mil in assets?

  5. Couldn’t have happened to a nicer guy. Now here’s hoping NFL Network doesn’t renew his contract.

  6. “….also claims that he has lost his Super Bowl ring.” Translation: Pawned for a few dollars to get a quick fix at the Craps table.

  7. That’s some reckless spending by Sapp ! Was he or his accountant reviewing his balance sheet from all that NFL income ?? Sweet !!! Not very responsible for a former millionaire……………

  8. So smug on T.V. you would have thought he was taking care of his responsibilities, specifically his kids………

    Good protection for him against the coming lawsuit though.

  9. How surprised are we supposed to be that a complete idiot lost all of his money? Cry me a river.

  10. With all the money these guys get over the years, it’s absolutely sickening that they don’t have a single cent left of it.

    I can only dream of having the money that Sapp made over the years.

  11. I know many in here will be taking joy in this news, but assuming it isn’t just one of those millionaire shell games it’s a sad story.

    As much as I haven’t liked Sapp from his days in Oakland and petty comments since that time, I wouldn’t wish this on him.

    Always sad to me when someone achieves a level of excellence and should be set up for life from it and then either throws it away or has it taken from them. Hopefully he gets this straightened out and is smarter in the future.

  12. How . . . just . . . how do these guys wind up like this? Do they not have financial advisers? Do they have inept financial advisers?

    I mean, sure, some of these guys are buying 44″ rims for their Bentleys and makin’ it rain, but I’ve got to think the majority of them are at least making some effort toward a financial future while they’re earning NFL dollars.

  13. wow. i’d like to think that if i had the success this guy has had i would do better. but who knows… regardless, what a buffoon.

  14. Ha! I love these guys that never learned how to manage money. Guess that’s growing up on the hood for ya……so it goes. My favorites are Shawn Kemp and ‘Toine Walker. I look forward to many more cases of this to come.

  15. How does this happen??.. I dont understand how a guy can make MILLIONS and piss it all away ina few years.. $45,000 a month and the dude is broke???? I made less than that last year and have 2 cars that are paid off and my house is paid off as well.. I’m not living the life of luxury, but im pretty much debt free. Live within your means you morons!!

  16. This is really sad. These guys need to hire a financial counselor that can help them with their finances. No way should this guy be broke. I wish I made 45 grand a month……

  17. After Jeremy Shockey gets in line, Stephen Ross (owner of the Dolphins…I know, he doesn’t need the money), and Jeff Ireland (GM of the Dolphins, who might need it because he has two special needs kids–something Sapp–name is appropriate!–would know nothing about) should line up right after Ross…clearly, Sapp slandered both of them with his “Players hate Ross and Ireland” BS. So Rickey Williams hates the guy who let him and his family use his house while he played for the Ravens?

    God just might be doing a little kharma on Sapp for those comments!

  18. No surprise he’s bankrupt, $45K/month probably can’t even cover his grocery bill.

  19. This makes my day…..Sapp is so busy chucking Shockey under the bus and talking like a big man about Greg Williams yet he can’t even manage his own checkbook. What a bum. Hey Warren worry about your own affairs before you go putting your nose in others business.

  20. This is the sad reality of the sport we love. You take kids turn em into millionaires and they think the money will never dry up. It’s almost the same a people that win the lottery and are broke 5 years later. Instead of living a comfortable life and living well they shoot for extravagance and when the mutli-million dollar salaries dry up they can no longer afford to pay taxes on the properties they owe sad but true. Hey Florio wonder if they are gonna claim you are making fun of Sapp because he has a learning disability.

  21. Really Sapp is getting 45k a month???
    Only in America..Schockey put your name on the creditors list Sapp’s got that money hidden somewhere I would say that he is stupid but that would be the folks @ nflnw for paying him 45k a month,45k a month really for Sapp??

  22. $45K/mo and he’s behind in child payments? What does that say about him? That plus his bountygate gaffe plus his contract about up…………………. Ask not for whom the bell tolls, it tolls for you.

  23. “nobody wants to play for Miami” he said. I bet he would if he could still play. Good Football Player, but a real scumbag Citizen ( doesn’t pay his fair share of Taxes), poor Father (didn’t pay Child Support) and all around Idiot. It’s not like he doesn’t have a current income! I do feel bad for some former Players. They had no financial guidance and are broke now. This over-opinionated moron continues to spend on luxuries while trying to stick us Tax-Payers with his Bill. I hope he suffers some inconvenience.

  24. People…its not 45k total….its per month. Multiply it by 12. He’s getting paid well.

  25. $45,000/mo and he is claiming bankruptcy? Do you know how well I could live off of his paycheck? I could still be investing most of it, all the while being able to buy whatever my family needs and wants. Hell, I would be able to have my woman go into Coach once a month to get herself a new purse. I can tell you one thing, Bankruptcy wouldn’t be in my future with that paycheck.

  26. Sapp’s bankruptcy filing cannot wipe out a Shockey lawsuit that had not been file.

    After a bankruptcy filing, you pay off your debts, start fresh and can be sued.

  27. How in the world — no, how IN ALL OF CREATION — is that bug-eyed toad worth $45k A MONTH to the NFL Network???!!! Yes, friends, the Apocalypse is near.

  28. Strictly a tactical move to avoid paying child support. What a TOOL! Once a Raider, always a Raider, UNTIL you speak bad about the Raiders. Which you did Fatboy. The Raider Nation DOES NOT have your back. You are dead to us. F U Sapp! Take care of your kids loser!

    RAIDER NATION!!!

  29. Yes sapp may be a future hof player but at least i can say that im better at handling my financial responsibilitys.

  30. I dont know whats crazier , that this moron blew millions of dollars or that NFL network pays him 45,000 a month for the opinion of a 12 year old.

  31. I bet he would like to earn some bounty money now. What a sapp. Where can he earn some money…DWTS, Broke Bachelor…that would actually be a funny show, Survivor…at least he would lose all that fat.

  32. I’m sure child support broke him. Apparently the courts think he will make millions a year for the rest of his life. Its fkd up. That bein said, he could become a snitch for Goodell and Mara and they can cut him in on the cap penalties.

  33. And we’re supposed to feel bad for former players saying they don’t get a big enough pension?

    I picture him losing his ring the way that guy did to the Rock in the begining of “The Rundown”.

  34. The problem is these guys go from making no money to making lots of money and rather than living below their means, they either live at their means (meaning paycheck to paycheck) or well above their means. Eventually, you don’t get the big contracts anymore and you have a pension which means having a budget-but a lot of these guys don’t know how not to spend money.
    $45,000 a year and you cannot pay your debt. Why not get a payment plan going and work with a financial planner so you don’t get into this situation again?.
    I even read somewhere yesterday that OJ Simpson gets an NFL pension of $25,000/month. That’s still a heck of a lot of money-apparently his Daughter is spending it for him while he’s in prison.

  35. Only thing that would make me any happier is that if the NFLN and Showtime doesn’t renew his contract. The most overrated player in NFL history!

  36. akd1287 says:Apr 6, 2012 5:53 PM

    “….also claims that he has lost his Super Bowl ring.” Translation: Pawned for a few dollars to get a quick fix at the Craps table.
    —————————————————-

    No, I’m sure he still has the ring, he doesn’t want to lose it in liquidation so he claims he lost it and like,

    thankheavenfornumberseven said,

    it’ll turn up later after this whole mess is over.

  37. Couldn’t have happened to a nicer guy.

    Pay your child support, dead beat. Also, spit the chewing tobacco out before you’re on a live mic. This guy makes Michael Irvin sound like Richard Dawkins.

  38. Not surprised at all, but with 45k a month, come on u gota have some sense on how to spend your money, I remember I saw him when superbowl was in miami colts vs saints n he was on a nice old skool ride, kind of late but he better start thinking about his future, so sad that a lot of us will never make that kind of money on our life, n they wasted it like crazy.

  39. “A likely future Hall Of Famer” Really? why are they that desperate? He was just another BIG mouth player who the media pumped up as being a force. Average at best.

  40. Don’t laugh, there’s beenbigger and better than him, Trump for one. The child support deal is probably a ball buster but he played, he should pay. I raised mine by myself, no support at all. Not defending him AT ALL. promise. But that kinda money it’s HARD TO BELIEVE.
    ( career Wise). Can’t even imagine what you would spend that kinds money on. I was always told that if you want to be rich, spend LESS than you MAKE for a LONG TIME. tried but haven’t made it yet. I could sure get a jump start though with 45K per month. Wow, can’t even imagine. Let alone his player deals. Geez. Makes me feel poor just thinking about it.

  41. Please don’t show him in Raider gear…He was never a Raider. He stole Al Davis’ money, underachieved, then lies on TV.

  42. I’ll bet Sapp was one of the first in line to condemn “the system” when people’s mortgages were blowing up their lives.
    Now he’s the first in line (as measured by his $345K debt when compared to his $540K income) to love him some “system” and take shelter in it.
    Gotta love types like Sapp and lawyers.
    Well you know what?
    Guys in Afghanistan are nonetheless willingly fighting for his right be this worm.
    Takes all kinds to be a community, right?

  43. Now that he’s broke, he will sign up for the concussion law suits so he can get his due outta that. Broke ex-players= Law suits

  44. Hundreds of thousands of dollars in child support?!

    you are behind by hundreds of thousands of dollars?!

    dude, you just became irrelevant in my mind. You can’t support your kids… shut the hell up, you have nothing to say I want to hear.

  45. Hmmm another athlete who has made MILLIONS playing a game, turns up broke……SHOCKING

  46. Couldnt happen to a more deserving guy. He ran the Raiders under the bus, ran his mouth and is universally disliked by a number of former players.

    Unfortunately, he has the goofy personality so he still is on NFL Network and Inside the NFL..so were stuck with seeing him.

  47. truthhurtstoo says:
    Apr 6, 2012 5:56 PM
    what a jerk! typical big mouth U alum….

    ——————————–
    Along with Michael Irvin.

  48. I make 40k a year and survive just fine. I’m not driving a Bentley but I also don’t drive a bucket. My house is normal. These guys are idiots squandering cash on dumb stuff they don’t need.

  49. It is so sad and pathetic what I’ve just read. How pathetic can you be that it takes another person’s misfortune to truly make you happier.
    When I’ve first read about AI’s financial problems, I believed it was the same people that got out and celebrated AI’s situation.
    Absolutely pathetic !!!
    And as for EJ’s comment on how with 45k he would have enough money to pay his bills, his family’s bills and some money left over, after investing, for his girl to buy a new Coach purse every month.
    That’s exactly how most people becomes broke. They didn’t spend it, it was other people who spent it for them.

  50. This is another sad case of who really gives a F**K
    Are we suppose to care that any athlete who makes more money than probably all of us commenting is bankrupt.. They don’t care about us.
    Ever notice every time an athlete signs with a team it was his favorite team growing up..

  51. On his Florida license plate it says “QB KILLA”. I guess now he can make it “DEBT KILLA”.

  52. Warren Sapp should only be shown in Bucs gear from now on. Raiders fans every where want to forget that he stole money from the franchise and failed to live up to his own hype.

  53. Ha HA! I’m in better financial shape than that pogo stick jumping, touchdown scoring against the Falcons smart mouth punk. My dinner with mac & cheese with special guest star sliced hot dog weenies taste even better.

  54. No one feels bad for this fat POS. I’m still shocked that this ignorant a-hole is on TV.

  55. He is so awesome. Points the finger everywhere so no one knows how terribly stupid and irresponsible he is. Congrats Warren! You have shown everyone your stripes.

  56. The ultimate turd, the deadbeat turd of all turds.

    Screw you and the horse you rode in on, Sapp.

  57. mauicat1 says:

    Apr 6, 2012 8:36 PM

    On his Florida license plate it says “QB KILLA”. I guess now he can make it “DEBT KILLA”.

    __________________

    Actually, he doesn’t know how to kill debt. More like “Asset Killa.”

  58. Im sure The []_[] “Family” will rally around him and all will be alright. Yeahhhh riiiiight. Just another in a long line of morally bankrupt Miami losers.

  59. It’s way, way, way too easy to shirk your financial responsibilities these days when a person who has 45 k per month in income can stiff his children (disgusting) and screw his creditors (ditto). How the bleep can someone with that level of income have the NERVE to file bankruptcy? Shameless loser. And I am sure his kids are old enough now to know what a dirtbag daddy is, that’s the biggest tragedy.

  60. Hall of famer? This guy is the most over rated guys in NFL history.. This guy is a complete loser gorilla mush mouth, he also cheated on his wife with several girls…
    I cant even watch NFL network when this guy is on.
    Why does NFL Network put guys on TV who can barley speak?
    Irvin, Sapp but the worst of the worst is Shannon Sharpe.. I seriously have no idea what that horse face says

  61. I though NFL retired players get a nfl pension. They said when oj was not in prison he was broke but was still getting 60k a mouth.

  62. warren sapp has always been outspoken and controversial. but he was a beast of a DT and at least he keeps it real…

    i have no affiliation with him or any of his past teams but i always like the fact that he liked pissing people off. he’s a man just like the rest of us and going bankrupt aint no joke and you can only at least root for him to make it through ok so you can keep hating him. he’s fun to hate.

  63. It just goes to show the wasteful spending going on in TV if a guy like Sapp get’s paid $45,000 a month to spout off his idiotic beligerant thoughts. Goodell should be ashamed of himself for hiring a guy who intentionally hurt players in his career and is now hurting our hears.

  64. Un…flippin real. Not only are you blessed with extreme raw talent to play at a high level in the NFL, but you trip into a great (and I would say undeserving deal) deal with the NFL Network.
    What I wouldn’t give to have 1 year of your NFL salary to put my kids through school and make improvements to my everyday life. I hope you figure it out….but based on your history I am guessing you won’t.

  65. does any of this shock us anymore…im actually more shocked when i hear of a player who isnt in any financial trouble, like Mark Brunnell- oh wait…
    seriously though, are there many out there?

  66. People don’t confuse bankruptcy for the lack of cash? The bulk of his money is overseas, if the judge grants this they will take assets, property to pay off debts. If Shockey sues him no money to take…..

  67. Wow, sure am glad he put that education he received from ‘Da U’ to good use. LOL at this clown or anyone for that matter who has made over $40 million professionally, still makes $45,000 a month, yet has to file for bankruptcy.

  68. Has he been retired five years yet? That is when his NFL retirement pay should kick in. It should probably equal his $45K/month income.

    Also, if he had packed a few million away in investments, he should be getting at least that much in income each month for life.

    Obviously, he and whatever entourage he had, burned up all his money.

  69. Whats truly sad is we, the fans, hear the stories & make it seem like we wouldn’t “make it rain” & spoil ourselves rotten if we had money like this clown. I guarantee the majority of fans bashing would be in a similar situation. Its easy to sit back as a fan & say “he should’ve done this or that, where is his financial advisor, blah blah..”
    GREED is an addiction, point blank!
    *I hope you guys figured this out (at least) by last years lockout & how that ALL played out.

    PS to the NFL:
    Financial Advisers should be a required hire for EVERY player in the league. I know a player isn’t forced to have an agent per say, but most, if not all of them still hire anyway. More emphasis should be applied for the adviser’s, just sayin.

  70. According to THIS website,
    http://content.usatoday.com/sportsdata/football/nfl/salaries/player/Warren-Sapp

    Which doesn’t have every year of Sapp’s career listed (8 out of 12 years in NFL), he made well over $40 million dollars in those 8 years in just base salary. He made almost $10 million more in signing bonuses, for a total of $50 million for those 8 years.

    Even if the gov’t took 50% in taxes, he still cleared $25 million bucks in 8 years. How hard do you have to work at it to blow through $31,000,000, which is what he would have to do to end up $6.7 mil. in debt?

  71. thegonz13 says:
    Apr 6, 2012 5:50 PM
    Warren, here’s a thought… Instead of casting stones left and right, why don’t you mind your own damn business?
    How the hell can he declare bankruptcy with $6.5 mil in assets?

    _______________________________

    I’m not an accountant, far from it, but it is my pea brained understanding that if the subtrahend (Liabilities)
    is subtracted from the minuend (Assets) and the DIFFERENCE is a negative number you might be bankrupt.

  72. If only someone would have given him the phone number to Bling Anonymous before it came to this!

  73. Thisis complete BS when rich people file for bankruptcy. This a55 has made millions, more than I will make in a lifetime as a teacher and he can fle for bankruptcy, hey I don;t want to pay of my student loans but I can’t file for bankruptcy. Tell this rich morons too bad the tax payers are not picking up a millionaires tab.

  74. I used to like him but eventually I grew tired of his antics. His financial problems don’t come as a real surprise. Big mouth bullies are usually full of s#!% and always trying to hustle someone. Karma is a bitc# and he got what he deserved. He’s a legend in his own mind and doesn’t belong in the HOF. Are you f-ing kidding me?

  75. I’ll buy the large picture of the naked lady off of you “big worm” for 20 bucks!!!

  76. He’s an idiot who has tried to bully his way through life. If he was half as smart as he thinks he is, he wouldn’t be bankrupt. I wonder who he’s going to blame for this mess? How could NFL.com hire such a jerk?

  77. He’s smart enough to live in Florida, a state with a generous Homestead law (got to love those politicians) that allows wealthy individuals to protect the equity in their home in bankruptcy. Interesting that the links did not provide any detailed information on what assets Sapp will protect under the Homstead law.

    Everyone that posted slamming Sapp should look in the mirror at the true saps, the average guy that keeps voting Republican (Dems not much better) thinking they look out for their interest. I pay $25K a year for health insurance, it just cost $300K to send my first child to a private college, and I have no pension. Fortunately, I have done well and have assets. Most guys don’t. If I lived in France or Austrailia much of health care, college, and pension costs would be covered in return for working for a living. Keep identifying with the haves by calling that socialism boys when the truth is that most of you are playing the sap while the elites and their stooges like Sapp get taken cared of for life.

  78. Queen Latifah looks better in Sapp’s surfing gear!!!!

    Plus, you know how Warren keeps laughing at crap that isn’t funny???

    Well, we can now laugh at something that is!!!!!

  79. Look for work as a Weatherman…They don’t get it right, yet they get paid! Perfect job for Sapp!
    NFLN paying him 45K a month? The last time he says something smart was the 1st time!

  80. “According to the filing, Sapp owes… hundreds of thousands of dollars in child support.”

    “He lists his current income as $45,000 per month from NFL Network”

    What a piece of crap. I know $540K/year isn’t NFL money, but it should still be enough to allow Sapp to live comfortably, and fulfill his responsibilities as far as his kid is concerned. Again, what a piece of crap.

  81. Sapp claims a lot of things….some aren’t so true. He won’t be laughing so hard now, when as he has done to others, making jokes on his behalf will start.

  82. The NFL Network or everyone that pays a cable bill pays this on air talent $540,000 a year…..priceless…….

  83. What I want to know is who is going to spot Sapp first on a People of Walmart reel as he shops for a Faded Glory wardrobe….

  84. and what was his salary…. and how much did he make during his career??????????? It’s hard to pity people like this.

  85. Is Sapp one of these “one too many bottles of Cristal” bankrupts, or “invested his money in commercial real estate which continues to go t!ts up” bankrupts? Brunell lost his money in real estate. I wonder how Sapp lost his.

    Chad Clifton should send him a note saying he’d have considered loaning him a few bucks if he’d gotten a phone call after the hit.

  86. Haters step back. This story is just another example of how the system is designed to bring down a successful athlete. With the money Sapp has spent on health club fees, Jenny Craig fees, raising his children, educating his children, maintaining a tasteful professional wardrobe, diction lessons and working with therapists to boost his self esteem, how could he be expected to have to answer to the IRS, banks or other creditors? The man is just trying to be a role model and the nasty system is always nipping at his heels.

  87. Lets face it the guy is an idiot. Problem is bankruptcy judges…take everything and make him live on $2k a month, give the rest to his kids and people he owes, this would be 43K a month.

    If his rings show up, through him in Jail for being a fraud and being stupid.

    Also, lets tell the networks to stop hiring these jerks. If they are on TV, switch to a different channel!

  88. Side note to Mike: As I recall from my studies, back in the day, torts such as slander are not dischargeable so Jeremy may be garnishing Shockey’s ample network paychecks.

  89. Glad to see the NFL “analyst” was smart enough to mis-analyze his finances. You know that the intellectual ability to analyze something is indicative of one of the highest in learning. For the NFL network to call Warren an analyst is insulting to all football fans.

  90. Surfers around the world are cringing at the pic of that fat turd on his knees wearing Raider board shorts. It just proves that not only is he stupid but a kook as well. Stand up you clown! Real men don’t do anything on their knees.

  91. Anyone who has heard Sapp’s attempts at speaking should not be surprised that he is too dumb to manage his money.

  92. How does anyone making and made what Sapp has put himelf in this spot??? But in this case who really cares.

  93. This is understandable. Not only the giant “Nude Woman Painting.” But what about those “S” shaped hedges and the red billiard room with the giant stuffed camel? I say well played sir!

  94. neauxgeaux44 says:
    Apr 6, 2012 6:14 PM
    He makes more in a month than you bottom feeder posters do annually…

    ————–

    For the sake of discussion, I will agree with your premise…Here is what matters, we aren’t all filing bankruptcy on our crappy salaries so who has the problem – us or Fatboy?

  95. thankheavenfornumberseven says:Apr 6, 2012 5:44 PM

    Something tells me that Super Bowl ring is going to miraculously show up again after this all blows over.
    ————

    Too bad he didn’t spend his career with the vikes. Then he wouldn’t have to worry about hiding his Super Bowl ring…

  96. Shockey should tweet about this!!!

    Like he did about Amani Toomer and his wife!!!

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