Terrell Owens has been fumbling with his real estate portfolio for some time, but now it looks like he's really dropped the ball. Owens reportedly faces foreclosure on not one, but two Dallas condominiums.
The football star's condo in the ritzy Dallas high-rise known as Azure (pictured below), along with a more modest unit located less than three miles away, are both scheduled to sell at auction on Tuesday, March 6, online foreclosure marketplace RealtyTrac reports. Owens owes a total on the properties of well over a half a million dollars, RealtyTrac says.
The foreclosure, brought to our attention by The Huffington Post, appears to be the latest chapter in Owens' ongoing struggle to manage his real estate holdings. Owens, who signed a $34 million, four-year deal with the Cowboys in 2007, listed the Azure unit that will sell at auction, along with a second more expensive unit in the same building, last year. He later slashed the price of his pricier condo in the building (which is not the one that will sell at auction) from $2.25 million to $1.6 million in an attempt to sell the home in a short sale, according to Dallas blogger Candy Evans. The unit ended up selling for $1.4 million, Evans says.
Despite raking in over $80 million during his tumultuous career, Owens has lost most of his money to ill-advised investments, which included the $2 million stake he bought in an entertainment complex in Alabama. Its electronic gambling operation was judged illegal.
The Dallas Cowboys released Owens from his contract in 2009, following repeated clashes between Owens and other team members. Currently, he is playing for the Indoor Football League's Allen Wranglers, but says he intends on returning to the NFL. He turned some heads with his debut performance last Saturday, when he scored three touchdowns on three catches. (View highlights from the game below.)
With his departure from the Azure high-rise, Owens leaves behind fellow football star Deion Sanders, who owns a penthouse in the building that was once listed for $7.5 million. Sanders mediated a feud between Atlanta Falcons cornerback DeAngelo Hall and Owens in 2006, which began after Owens spit in Hall's face.
CORRECTION: An earlier version of this story stated that a condo owned by Terrell Owens in the Dallas high-rise Azure, that he formerly listed for $2.25 million, will sell at auction. In fact, Owens sold that home in a short sale last year. The unit that is selling at auction is a second unit that he owned in the same high-rise.
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