Michael Jordan can lose $1.5 million in a gym investment

[ Source: ] - August 14, 2012

Chicago-area native Dwyane Wade has worked out with Tim Grover at Attack Athletics Gym during offseasons.Michael Jordan stands to lose as much as $1.5 million in a possible foreclosure of a gym he invested in, according to multiple reports.

The Chicago Sun-Times and Chicago Tribune reported that a judge recently rejected a Chapter 11 bankruptcy filing by the company of Tim Grover, who owns Attack Athletics Gym on Chicago's West Side. Grover filed for bankruptcy in April in order to stave off foreclosure, according to the papers, but a judge dismissed the filing on July 11.

Grover's company, Attack Properties LLC, appealed the ruling, according to the papers, and that appeals process could take a month.

In the meantime, the mortgage holder is free to pursue a foreclosure sale, the papers reported.

Jordan, coming off a physical series against the Detroit Pistons early in his career, was Grover's first professional client.

Source: http://espn.go.com/chicago/nba/story/_/id/8265120/michael-jordan-lose-15-million-gym-investment

Click here for full story

Rudy Gay of Sacramento Kings has fractured jaw, broken tooth; gets OK to play for in title game
Kyrie Irving named FIBA World Cup MVP
Golfer Andy Sullivan wins trip to outer space with hole-in-one
Ateneo upends FEU, gets first twice-to-beat bonus
John Isner, Sam Querrey complete Davis Cup sweep
North Korea smash China in football opener
Serbia's return to glory fueled by Milos Teodosic

Comment/s