After reading through a few popular news sites earlier I couldn’t help but mention this story, especially with our blog being called Money Rebound!
Apparently the home of basketball’s all time legend Michael Jordan recently failed to sell at auction because it didn’t meet the reserve price. Jordan’s home had been listed at a huge $29 million in February 2012 only for the price to be dropped to a cool $21 million when there was a lack of interest. Now with it failing to sell at auction poor Michael might have to take a big hit on the property – which has its own full size basketball court, putting green and and chipping area – and somehow survive on just his bank balance, investments and meager earnings from his lucrative deals with Pepsi, Gatorade, HanesBrand and Nike. According to this CNN Money article he also owns his own a motor-sports team, restaurants, and holds a majority stake in NBA team the Charlotte Bobcats. How will he get by, right?