Michael Jordan could lost the $1.5 million that he invested in Attack Athletics, a state-of-the-art gym facility in Chicago that is now in receivership.
Attack Athletics owes more than $12 million to its creditors (MJ is an unsecured creditor) and filed for Chapter 11 bankruptcy back in April. A foreclosure notice was filed on the facility back in 2010.
Attack Athletics was founded by Tim Grover, who rose to prominence as Jordan’s personal trainer when he played for the Chicago Bulls. The Attack Athletics facility boasts four NBA-sized basketball courts, a 10,000-square-foot weight room and a client list that includes Dwayne Wade.
Chances are, MJ isn’t sweating a $1.5 million loss. Plus, the Bleacher Report says his Charlotte Bobcats have some goodness to look forward to and he’s obsessed with comparing the ’92 Dream Team to this year’s Olympic basketball team. Maybe he missed the closing ceremony on Sunday? But yeah, he’ll be fine.
More on Madame Noire Business!
- The Number of Black-Owned Businesses, and the Need for Resources, Is Growing
- Are You Pinning? Pintrest for Individuals, Small Businesses, and Big Brands
- Women, Minority Businesses Face an Added Burden of Proof
- Are Black Businesses Suffering From an Undeserved Rep for Bad Customer Service?
- How to Tackle Office Enemies
- Here are the Five Highest Paying Jobs You Don’t Need a Bachelor’s Degree to Do