For those who’ve got big feet, deep pockets and a special love of basketball shoes, Warren Sapp’s financial woes may turn into their golden opportunity; Sapp, as part of his bankruptcy case, will be putting up his entire collection of rare, size 15 Air Jordan basketball athletic shoes.
Sapp, the former Tampa Bay Buccaneers defensive tackle, enjoyed a successful NFL career during which he accumulated over 240 pairs of the collectable and valuable Air Jordans. The sometimes controversial Sapp, whose legal troubles began before declaring bankruptcy on April 7, 2012, owed the IRS close to a million dollars for unpaid taxes in 2006 and 2010 and was also more than $800,000 behind in alimony and child support payments. Sapp further owed money to friends and attorneys. Sapp filed for Chapter 7 hoping to discharge debt from his failed businesses; he further stated that debts were accumulated since retiring from the NFL.
Air Jordan shoes retail at about $200 per pair, however, the collectable and rare editions can easily fetch up to $10,000, with the most expensive and sought after pair costing an astounding $25,000. What makes the Sapp collection potentially so valuable is the fact that many of the shoes were never worn and are in pristine condition. Shoe connoisseurs are predicting that some individual pairs in the Sapp collection will easily be sold at auction for over $5,000.
Proceeds of the auction will be used to pay Sapp’s creditors.