A $1.5 million yacht that belonged to former NBA star Latrell Sprewell is in the hands of federal authorities after he defaulted on the mortgage.
A federal marshal seized the boat at Manitowoc, where it was being stored.
The 36-year-old Sprewell played 13 NBA seasons and was a four-time All-Star. The Milwaukee native hasn't played professional basketball since turning down a three-year, $21 million extension from the Minnesota Timberwolves during the 2004-2005 season.
The marshal acted on a court order requested by a New York bank that plans to sell the boat to pay off more than a million dollars it says Sprewell owes on the mortgage. North Fork Bank says Sprewell's firm, LSF Marine Holdings, hasn't made its monthly payments of more than $10,000 on time or maintained the necessary insurance on the boat.
Sprewell couldn't be reached for comment on the repossession.
The 70-foot "Milwaukee's Best" was built in 2001 by the Italian firm Azimut-Benetti. Court documents show Sprewell bought the craft in 2003.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.