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Monday, August 13th, 2012 at 4:50 pm  |  38 responses

Michael Jordan May Lose $1.5 Million From Gym Investment


The G.O.A.T. certainly has plenty of money to his name, but nobody would be happy about losing any amount of scrilla that tallies in the seven digits. According to ESPN, Michael Jordan may take a $1.5 million hit if a gym he invested in forecloses, which it may, depending on the result of an upcoming appeal process. More details: “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. ‘He said he’d try it out for a month, and it ended up being 15 years,’ Grover told ESPNChicago.com in 2009. The gym, formerly known as Hoops, was built in 2007. It is a 65,000-square-foot facility, according to its website, and has four NBA-sized basketball courts and a 10,000-square-foot weight room.”

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  • http://www.slamonline.com Redd

    It’d suck for the city if we lost this spot.

  • justin05

    That’s okay he’s probably made more than that since this article has been posted anyway.

  • http://www.fullc0urtpress.com KHOLIDAY

    He just made that off of the 4′s that got re-released!

  • http://www.kb24.com The Seed

    I am so tired of MJ stories, this dude has been out of the league for about 10 years now. He is not relevant anymore and anybody still be buying his shoes need to reevaluate their life. He doesn’t care about anything but his money and his fame. Please Slam, can we let MJ leave and mess up my hometown franchise, then let him go sit and watch his old moves to reminisce about how everyone sucked up to him except, Zeke.

  • Jerome

    Welp … looks like he backed the wrong horse.

  • http://wired.com Lucious Vorenus

    The Seed hates his favorite player’s blueprint. Go figure. I wouldn’t care if he lost his entire fortune. I care as much about his finances as he does about mine. That goes for all celebs.

  • Petro3

    This is like a week old, step it up.

  • shuref00t

    MJ would lose more than that on a single hand of blackjack.

  • fruizm

    This is crazy! I was going to an internship two years ago with Tim Grover!

  • http://nba.com I’m J.J. Redickulous

    Chump Change.

  • derby

    i do like to see more precision with the number if it really is about money,such a story need details ,otherwise you just can’t label it as a true story, btw ,agree with all the commenters above ^

  • http://www.slamonline.com spit hot fiyah

    is this equivalent to one of us loosing 5 bucks?

  • anthony

    First off, Mike has that in his couch!! lol..second, how can he be bankrupt if D wade and all these league guys are in there during the off season? Three, can anyone in the Chi tell me if they let regular guys in? and if so how much is it? I would imagine this would be the best spot to hoop in the city..

  • http://www.stillonthebench.blogspot.com TR

    1.5 isnt what it used to be

  • Alexico

    Seed of hate

  • http://Vangrackstyle@yahoo.com Dallas Stokes

    Do not take all my pocket money Akeem…LOL!!!

  • bigA

    I want to see basketball. I wont read this.
    BASKETBALL GAME FOOTAGE

  • BallsDeep

    @Seed. Stop reading then d**khead. Some of us are interested in MJ. Not all of us are in the US so we don’t hear this stuff. SLAM is my basketball connection with the outside world, better than NBA.com.
    Go SLAM!

  • http://www.youtube.com/user/officerbarbrady what

    What’s $1.5 mil to a ninja like him, can you please remind me?

  • LA Huey

    “Because unlike Hammer [1.5] can’t hurt me!”

  • http://www.nba.com/knicks danpowers

    @Seed: come on, mj was by far the best thing the league ever had to offer. without him some of us wouldnt be even interested into basketball. he is not just a former player. if people are true ballers, he is their god instead of that fantasy figure out of that strange book people call “the bible” lol

  • 575m

    Ballsdeep….you sound Aussie…I like it! I also get my basketball info from the web, and as MJ remains the greatest player ever, I like to hear what’s happening with his life. If you don’t care, don’t click the link.

  • Fat Lever

    “B!tch, you wasn’t with me losing on the gym!”

  • pposse

    seed, tim grover trains NBA players as we are currently speaking. He works with the likes of D wade. The MJ headline draws attention, but like REDD said if chitown loses that spot it would be horrible.

  • http://www.twitter.com/_dfrance dfrance

    *Currently reevaluating my life cuz I bought some Js last month*

  • mask

    he’ll retro some signature jordans for $200 a pop and double that. These kids are stupid nowindays.

  • patrick

    test?

  • http://www.alllooksame.com Tarzan Cooper

    How did grover go bankrupt? I don’t comprehend.

  • bike

    Won’t matter. His new line of underware, called Boosties, should make up the difference.

  • Lloyd

    MJ finds that much in his pockets by accident.

  • http://www.kb24.com The Seed

    I apologize to everyone I offended with my MJ rant. I love MJ understand his importance to the game of basketball. I digress.

  • http://www.slamonline.com Chinese Oppenheimer

    MJ can kiss my arse. F him and his gym. I don’t care if he’s the greatesst ball player of all time, he isn’t God.

  • http://slamonline.com The Philosopher

    Shout out @400 million dollars…

  • http://www.alllooksame.com Tarzan Cooper

    Shout out to THE philosopher…..and a big fucc you to fake chinese oppenheimer

  • http://www.nba.com/knicks danpowers

    @Chinese Oppenheimer: yes he is. thats blasphemy. you find it in the holy book of basketball. bird 86-2: god disguised as michael jordan. or also see johnson 88-1: there’s michael jordan and then there is the rest of us.

  • Chi’s Own

    Listen I have a buddy that runs the gym & I’ve worked out there plenty of times. Problem is league guys only there during the off season really. A few college guys roll through but they ain’t paying like those league cats so who pays for all the state of the art equipment this place has??? Regular guys can’t afford the likes of this place. Hell regular guys couldn’t afford Hoops gym let alone Attack. R Kelly gets the gym just a few blocks over instead of paying those ridiculous prices. There’s no market for a place like that in Chicago. They need to move it to a place that athletes like to frequent & blow money like Atlanta or Miami. Nobody comes here unless it’s about work. Too many robbers & haters. Tim & Mike y’all need to hire me as an advisor. I could’ve told y’all it wouldn’t work.

  • http://slamonline.com Caleb hyde

    No Mr Grover would not let regular folks work out there and he charges such a high amount for his services that even some pros or potential pros would not workout there. Really he had MJ and most everyone thinks that if he could get MJ to such great heights then he could do the same with them but in reality if any person on this page had MJ in the beginning and told him to do 3 pushups and run the stairs for a hour MJ every other day he still would have still been the greatest of all time this is why none of the players he trained didn’t end up being great as MJ (there is only one!! ) no matter how much they pay or what Mr Grover had them do give him credit he parlayed what he did with MJ but anybody could have done this proof : Derrick Rose’s trainer Rob MClanahan great trainer and about 200% less money wise and doesn’t have all the special equipt. but D. Rose was ROY, and league MVP so all that stuff at Attack was good but it could be done for a lot less. Note to players: Trainers are really not needed players need to get in the gym and stop trying to be so catered to it’s about being there on a regular basis working on you skills and eliminating your weaknesses. I hate that this happened but if it works out and he gets it back he should open it up to those that can afford his services and those that can’t give back to all that are trying to make it playing basketball and have some tournaments in the summers pro, NCAA, and AAU it would draw crowds and money all in the interest of keeping his place open. He didn’t get the place on his own accord so now it’s about to go under where are all those elite athletes who he trained seems to me they would come to bat for him esp for such a small sum in comparison to the players salaries and the work he’s putting in to get these players on the same level as MJ they surly wouldn’t wamt to lose their workout place with all the modern technology Hmmm……… it’s more to this than the media is knowledgeable about i would like to know the real story.

  • http://slamonline.com Caleb hyde

    @chi’s own i agree 100% with what you said price wise for regular people it could work if he didn’t try to price guys out of there it’s total BS. More NBA players would probably come out Chicago it’s great in the summer but do you think maybe his attitude and price has something to do with this issue? Please respond

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