I am shock.
The problem isn’t with Marbury’s personal funds, but how he has been handling his businesses. SportsGrid.com has the details.
A few years ago Marbury guaranteed a $16 million loan to Starbury, his namesake company that sells shoes and other apparel. The problem is, the company never paid off the loan, and now Wachovia-turned-Wells Fargo wants its 16 mill back and is pressuring Marbury to pay up. Apparently the collateral he put up for the loan was foreclosed property.
Do they still sell the Starbury shoes?
Lets google and find out please hold…………………………………
It looks like you can at http://starbury.com/ also Starbury has a workout DVD on the way. I am waiting for the Pilar Sanders workout DVD, but I digress.
He is going to need to sell a lot of DVDs to pay off his loans.