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.
The Pistons will start Reggie Jackson at point guard, and they signed Ish Smith to provide better backup at the position.
The competition for the third point guard spot is heating up.
With Lorenzo Brown and Ray McCallum already signed to unguaranteed deals, Detroit is adding undrafted Old Dominion guard Trey Freeman.
Michael Scotto of Sheridan Hoops:
The Pistons have just 14 players – one shy of the regular-season roster limit – with guaranteed salaries. The final spot will very likely go to a point guard.
Brown and McCallum should be favored in the competition, because they’re more NBA-ready. A president/coach, Stan Van Gundy is more prone to covet the player who can step in immediately.
Freeman’s partial guarantee is likely designed to entice him to play in the D-League for a low base salary. The Pistons can waive him in the preseason and then assign his D-League rights to their affiliate, though he’d become an NBA free agent.
Freeman is working to become a better distributor after playing as a go-to scorer in college. A solid mid-range shooter, he must extend his range beyond the arc. It’d also help if he got to the rim more, and it seems he has the bounce to do that.
For an undrafted player, he has nice tools. They’ll probably just need to be refined in the D-League.
But even if that’s the intention, Freeman at least gives himself a chance first of upsetting Brown and McCallum in the race for third point guard.
With 32 wins and missing the playoffs, last season wasn’t exactly what the Knicks hoped for. However, last season also came with hope in the form of Kristaps Porzingis.
And there were highlights. Check out the team’s Top 10 plays, courtesy NBA.com.
It starts with some Derrick Williams moments, and ends with a Jose Calderon game winner, but there are moments from players the fans actually like in between.
At this point, there is zero chance Russell Westbrook‘s posts are a coincidence.
First. he posted a video of himself singing along to Lil Uzi Vert’s “Now I Do What I Want.”
Then came the shoe ad that was another little jab at now Warriors Kevin Durant.
Now comes Westbrook’s return to karaoke posts, this time singing Taylor Swift’s “We Are Never Getting Back Together” and Katy Perry’s “Wide Awake.”
Apparently, Westbrook and Durant are having one rough teenage breakup.
One of the great stories of last season was the return of Paul George to All-Star level form (then to watch him be crucial to the USA winning gold this summer).
It was a great story because vintage Paul George was so great. Watch this throwback video of him blowing by LeBron James and dunking over Chris Andersen from a few years back — this is vicious.
By the way, if you’re not following NBA history on Twitter and Instagram, you’re doing it wrong.