Fabbs
07-28-2016, 08:14 PM
Kareem Abdul-Jabbar is about to be out nearly $1 million after he lost a lengthy battle with a famous auction house.
TMZ reports that Abdul-Jabbar has been ordered to pay $900,000 to Julien’s Auctions after a deal between the auction house and Los Angeles Lakers legend went south in 2012. Abdul-Jabbar believed the auction house was supposed to sell around 400 items for him, and he decided to physically remove the items himself in 2014 when they weren’t sold.
After that incident, Julien’s sued Kareem. They won. Here are some more details:
Julien’s sued Kareem — claiming they also made a $300k donation to his foundation as part of the deal to sell the items — but he refused to refund the money when he backed out of the sale.
The case went to arbitration … and Kareem lost.
Now, he’s been ordered to pay more than $900k in damages PLUS interest and attorney’s fees. He’s also been ordered to return all the items he took.
Darren Julien, the president and CEO of Julien’s Auctions, told TMZ it is “unfortunate” the courts had to get involved. He claims the company did everything it could to reach an agreement with Kareem before filing the lawsuit.
We haven’t really heard much from Abdul-Jabbr since he made these bizarre comments about LeBron James a couple years back. I’m sure this isn’t the way he envisioned his name getting back into the news.
http://www.msn.com/en-us/sports/nba/kareem-abdul-jabbar-ordered-to-pay-dollar900k-to-auction-house/ar-BBuZAGh?li=BBgET5V&ocid=spartandhp
TMZ reports that Abdul-Jabbar has been ordered to pay $900,000 to Julien’s Auctions after a deal between the auction house and Los Angeles Lakers legend went south in 2012. Abdul-Jabbar believed the auction house was supposed to sell around 400 items for him, and he decided to physically remove the items himself in 2014 when they weren’t sold.
After that incident, Julien’s sued Kareem. They won. Here are some more details:
Julien’s sued Kareem — claiming they also made a $300k donation to his foundation as part of the deal to sell the items — but he refused to refund the money when he backed out of the sale.
The case went to arbitration … and Kareem lost.
Now, he’s been ordered to pay more than $900k in damages PLUS interest and attorney’s fees. He’s also been ordered to return all the items he took.
Darren Julien, the president and CEO of Julien’s Auctions, told TMZ it is “unfortunate” the courts had to get involved. He claims the company did everything it could to reach an agreement with Kareem before filing the lawsuit.
We haven’t really heard much from Abdul-Jabbr since he made these bizarre comments about LeBron James a couple years back. I’m sure this isn’t the way he envisioned his name getting back into the news.
http://www.msn.com/en-us/sports/nba/kareem-abdul-jabbar-ordered-to-pay-dollar900k-to-auction-house/ar-BBuZAGh?li=BBgET5V&ocid=spartandhp