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.”