They may love him and erect statues to him in Beijing, but things are different in Virginia.
That is where Stephon Marbury, through his business entities, bought some commercial properties for investments. But the bank says they have not been paid on loans for those properties and because Marbury personally guaranteed the loans they are coming after him in court to get their pound of flesh. Or, just the cash.
The gory financial details of the well traveled former NBA scoring machine were detailed in a story at richmondbizsense.com (via SLAM).
U.S. Bank, which is servicing a bundle of loans originally owned by Wachovia, sued Stephon Marbury and several of his investment entities — one of which is called Starbury GSA — for $3 million. Marbury’s nickname as a high school phenomenon was “Starbury.”
The suit contends that, through the entities, Marbury bought industrial and office properties across the county, including one on Poplar Drive in Petersburg that was leased to the US. General Services Administration for use by the Social Security Administration….
Wachovia lent $1.4 million to Marbury in 2007. In August 2011, U.S. Bank foreclosed on the Petersburg property and sold it for $1.31 million, according to the suit. The bank alleges that it is still owed $1 million by Marbury, which includes unpaid interest and legal fees.
This is no Marbury’s first financial issues stateside, remember is home in Los Angeles was foreclosed on. And banks have gone after him before for much more money.
Marbury is in China preparing for the next season of the Chinese Basketball Association — where his team is the defending champion — and has not yet commented on the lawsuit.
With the shot clock off in the fourth quarter and the game tied, Grizzlies big JaMychal Green put back Tyreke Evans‘ miss with a clutch flush. There’s a very fine line between ensuring the last shot and leaving time for an offensive rebound, and Memphis threated it almost perfectly.
Emphasis on “almost.”
The Grizzlies left the Mavericks 0.5 seconds, which Harrison Barnes used to bank in a 3-pointer – off a pinpoint bounce pass by Dennis Smith Jr. – to give Dallas a 95-94 win.
The Celtics didn’t have another comeback in them.
After overcoming a 13-point fourth-quarter deficit against the Mavericks on Monday to extend its winning streak to 16 games, Boston lost to the Heat tonight, 104-98. The streak ends as the NBA’s longest since the Hawks won 19 straight during the 2014-15 season.
The Celtics trailed Miami by 16 in the fourth quarter then cut the deficit to only one with three minutes left. But Dion Waiters hit back-to-back 3-pointers, helping the Heat pull away.
Goran Dragic (27 points) and Waiters (26 points) led Miami, which needed a reason to feel good after losing three of four to fall to 7-9.
The Celtics, on the other hand, still have a four-game cushion over the rest of the Eastern Conference. This might help them regain focus.
J.R. Smith (slightly out of context): “We don’t start paying attention until after All-Star break.”