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Miami Heat Bail Out Tim Hardaway In His Problems With IRS

By Randall Stevens   /   Published 01/28/11

Tim HardawayRetired Miami Heat point guard Tim Hardaway is the latest star to make headlines for falling behind on his taxes, despite earning $46.6 million during his NBA career.

According to The Detroit News, the IRS filed a $120,748 lien against Hardaway and his wife last summer, due to unpaid income taxes from 2005 and 2006.

However, he was bailed out by his former team, the Heat, who purchased the Miami mansion to settle his federal tax debt.

The paper reports that Hardaway sold the mansion to Miami Heat Limited Partnership, which owns the Miami Heat, three months after the lien was filed.

They paid $1.985 million for the 7,542-square-foot mansion in suburban Miami, and are now trying to sell the property for $2.5 million. It boasts five-bedroom, five-and-a-half-baths, and comes a pool and private basketball court decorated with a Miami Heat logo.

The team, nor Hardaway, would comment on why the sale took place.

The 44-year-old former NBA great still lives in the house, four months after the sale, said the report.

Hardaway spent 13 years in the NBA, entering the league as the 14th overall pick in the 1989 NBA Draft by the Golden State Warriors. He went on to play for the Heat from 1996 to 2001, before playing for the Mavs, the Nuggets and Pacers in his final years.

During his time in Miami, he led the Heat to some of the franchise's best seasons, thanks to his pairing with center Alonzo Mourning.

Hardaway was an MVP candidate during his 1996–97 season, after leading the Heat to the best record in franchise history, while averaging 20.3 points and 8.6 assists per game, and coming in fourth in the league with 203 three-point baskets.

In his prime, Hardaway was known and feared for his ankle-breaking crossover dribble.

He retired after the 2002-03 season, and worked as a basketball analyst for ESPN.

  • Frank Rizzo

    Shocking, another black guy who owes money.

  • http://impulsemagazine.net Impulse Magazine

    Where do athletes spend all of their money

  • http://www.dynamicproducer.com dynamicwayne

    Hope everything gets situated

  • http://nba.com eli aamar

    the not smart like jewis

  • http://www.BOATS.com $ailor Gang

    hey frank mad white boys "owe money" too!
    I have a whole list of tenants that are aleast 2 months behind in rent payments.
    stop lettin white supremacy and the fear of genetic annihilation rent space in your head homeboy!

  • jeremy

    Shocking another racist bitch

  • Frank Rizzo

    @ $ailor your slum tenants didn't make $20 million over the course of their career. It's not racist if it's fact. How many pro hockey players do you see going broke?

  • http://www.BOATS.com $ailor Gang

    who said anything about "Racist" Frank?
    you must feel guilty..
    none of my tenants are "Slum"
    they all actually do quite well for themselves and come from very well to do families but they suffer from
    poor money management and
    Acute Anglo-Saxon Arrogance Disorder.
    See.. they seem to think Im the tenant and theyre the property owner and misappropriate theyre funds before they even recieve them..
    Now what would be "Racist" would be for me to take this Ruger Super Redhawk
    and put it to theyre head like
    "cracka ass cracka run my fuckin money in" then evict every caucasian tenant and never rent to caucasians again..
    but we all know what devilish people
    play those types of devilish games.. now dont we???
    Speaking of "Hockey Players" Gordie Howe formally of the Redwings & Whalers
    rents an office space from me and hes
    delinquent too..
    how ironic
    lmao
    peace Frank

  • Frank Rizzo

    $ailer Gang, Gordie Howe may or may not be broke but he NEVER came close to earning what the players earn today. Let's play a game where I name broke basketball players and you name broke hockey players. Whose list do you think will be longer?

  • http://www.BOATS.com $ailor Gang

    smh Frank its sad that you believe
    that misapproriation of funds has a color..
    you really dont know people..
    as in ALL people..
    Im black and a large number of my
    white business accociates would be sickened and cause you serious bodily harm over a lot of the statements you've made.
    I dont know what part of the earth you
    reside on or what calibur of company
    you aquire (I gotta pretty good idea)
    but allow me to remind you that it is
    2011 and not 1555..
    your mentality and vernacular projects
    an image of a man confined to a world thats left him behind..
    I feel sorry for cats like you Frank!
    you truly live in fear of genetic
    annihilation and stand firm on the
    ideas of white supremacy
    LET IT GO FRANK!!!!
    a black mans bullet'll save you or
    your childs life just as well as a
    white mans..
    Im done with you Frank
    I gotta flight to catch smh

  • yourtransparent

    Sad you people STILL think your #@%%& don't stink....the biggest group of crime mongers out there along with stealing money from every race you come across...What's that called oh yeah WHITE COLLAR CRIME!! What's this b.s banking system called...Fractional Reserve...operative word fractional...created by what??? Europeans. Case closed.