Julius Erving earned an impressive array of memorabilia during his illustrious NBA career.Championship rings. MVP trophies. Game-worn jerseys.
And now he’s selling them. All of them. Why?
In what’s being called an “unrelated matter” by the Atlanta Journal-Constitution, a Georgia bank is suing Dr. J more than $200,000 for failing to pay a loan.
According to the AJC, The Erving Group Inc. of Atlanta, Erving’s company, received a $1 million line of credit in April 2009 to invest in an Atlanta golf club. Over a year later, the credit was reduced to $750,000. But, at this time, an outstanding balance of $205, 277.84 has not been paid.
Georgia Primary Bank filed the lawsuit Oct. 18. Erving has 30 days to answer the lawsuit, and is yet to respond.
This could very well explain why one of the most electrifying players of all-time is auctioning off pieces like his 1983 76ers’ championship ring, his two ABA championship rings and multiple MVP trophies.
Though Erving said in a statement he plans to donate portions of the proceeds to charity.
Either way, this is a sad development for a man that was once at the top of the basketball world and is still highly revered.
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