Call it a basketball bailout. The Miami Heat purchased the Miami mansion of former star point guard Tim Hardaway, who owed more than $120,000 in back taxes on the property, the Detroit News reported Thursday.
According to public records, the IRS filed a tax lien against the 7,542-square-foot property in June. But on Sept. 3, Miami Heat Limited Partnership, which owns the team, purchased the mansion for $1.985 million.
The Heat is now trying to sell it for $2.5 million, according to realtor.com. The house has five bedrooms, five-and-a-half bathrooms, a pool, and a private basketball court that bears the Heat logo.
The 44-year-old Hardaway, who is reportedly still living in the mansion, declined to confirm that the Heat bought the house. The Heat also declined to comment.
Hardaway, who said he is doing fine financially, said the lien has been taken care of, though public records still show it as active, according to the Detroit News.
"That's all taken care of," he told the paper. "I'll talk to my people and get on that. It shouldn't be pending."
Hardaway, a five-time All-Star, made $46.6 million during his 13-year NBA career, which was spent mostly with the Warriors and Heat.
Hardaway was a key part of then-coach Pat Riley's Heat squads from 1996 to 2001. His son, Tim Hardaway Jr., is a freshman guard at the University of Michigan.
According to public records, the IRS filed a tax lien against the 7,542-square-foot property in June. But on Sept. 3, Miami Heat Limited Partnership, which owns the team, purchased the mansion for $1.985 million.
The Heat is now trying to sell it for $2.5 million, according to realtor.com. The house has five bedrooms, five-and-a-half bathrooms, a pool, and a private basketball court that bears the Heat logo.
The 44-year-old Hardaway, who is reportedly still living in the mansion, declined to confirm that the Heat bought the house. The Heat also declined to comment.
Hardaway, who said he is doing fine financially, said the lien has been taken care of, though public records still show it as active, according to the Detroit News.
"That's all taken care of," he told the paper. "I'll talk to my people and get on that. It shouldn't be pending."
Hardaway, a five-time All-Star, made $46.6 million during his 13-year NBA career, which was spent mostly with the Warriors and Heat.
Hardaway was a key part of then-coach Pat Riley's Heat squads from 1996 to 2001. His son, Tim Hardaway Jr., is a freshman guard at the University of Michigan.
