Julius Erving continues to face financial hardship years after retiring from the NBA. According to reports, Erving owes Georgia Primary Bank $205, 277.84 after defaulting on a $1 million loan that was given to his company in 2009. Erving will have a month to respond to the lawsuit.
Erving’s troubles began to mount two years after he purchased the Heritage Golf Club in Georgia. The golf club never turned a profit and eventually went into foreclosure in 2010.
Erving will auction his several invaluable items from his legendary playing days in the NBA. Some of those items include his 1974 and 1976 New York Nets ABA World Championship ring,1983 Philadelphia 76ers World Championship ring, 1996 NBA’s 50 Greatest Players ring, MVP trophies from 1975-76 (ABA) and 1980-81 (NBA), and 1977 and 1983 NBA All-Star game MVP trophies.
Erving plans to donate a portion of the proceeds to charity. –a.r.
