Marion Jones Broke?

From correspondents in Los Angeles

June 24, 2007 FORMER Olympic golden girl Marion Jones, her athletics career now shadowed by doping suspicions, said in court documents that she is deep in debt, the Los Angeles Times reports today (AEST).

Citing recent court records, the newspaper said Jones claims she lost a $US2.5 million ($2.9 million) “dream home” in North Carolina to bank foreclosure last year.

Jones, who once commanded millions in endorsements, has “total liquid assets throughout the world”’ of about $US2000 ($2400), according to her own deposition in her breach of contract lawsuit against veteran track coach Dan Pfaff, the Times said.

Pfaff has countersued Jones and won a judgment for about $US240,000 ($283,000) in unpaid training fees and legal expenses.

Responding to a question from Pfaff’s attorney in her deposition, Jones said she doesn’t know where all the money went.

"I wish I knew,’’ she said. “`Bills, attorney bills, a lot of different things to maintain the lifestyle.”

Jones has been involved in a string of court actions since her name was linked to the Bay Area Laboratory Cooperative after a federal probe into steroid production and distribution.

She retained lawyers for her BALCO grand jury appearance and for a defamation lawsuit against BALCO founder Victor Conte.

Conte, who was convicted of steroid distribution, said he saw Jones use performance-enhancing drugs, an allegation she has vehemently denied.

Jones 31, was linked to doping again last year when an “A” sample from a urine test during the US athletics trials showed signs of the blood booster erythropoietin. The back-up sample was negative.

Jones, who has a young son with disgraced sprinter Tim Montgomery, is now married to Obadele Thompson, a 100m bronze medallist for Barbados at the 2000 Sydney Olympic Games.

Sydney was a triumph for Jones, who won five medals - three gold and two bronze. She failed to qualify for any sprint events in Athens four years later, and also failed to medal in the long jump.

She sued Pfaff in 2005.

Steve Riddick, Jones’ most recent coach, told the Times that the athlete had complained that some meets hadn’t paid her last season. But he said she drove a Porsche to training sessions in 2006.

“I didn’t see any signs that she was struggling,” he said.

Agence France-Presse

I don’t know which is worse:

Being absolutely broke and living on welfare, etc never having seen money
Once having millions and then suddenly having just over US$2000 to your name

I’m sure Marion will regroup. Last I heard she was with obedele. I saw her a few times at UNC training. Never had the nerve to go up to her and say “are you marion jones.”

That’s a dreaful story. But she is such a famous name, surely in due time she’ll be able to parlay that into money through public speaking, perhaps an insider’s book, maybe a film of her amazing life so far with it’s downs, many ups and now downs.

Her agent Charlie Wells (1977 Pac Con Games 100m winner) is himself, allegedly and reported to be ,in difficulties over the same bank fraud case involving Riddick and Monty. The US Track Federation is looking into his situation and allegedly may ban him from being being an accredited athlete agent.

that is very sad news and i’m shocked to hear it.for a woman who could get thousands for appearance fees whom is left with a few grand is sad.i’m sorry to say but her name is tarnished for life and already is forgotten about.look at mo,hes forgotten but replaced by powell and now gay.

its swings and roundabouts in this business and life in general so make the most of it while you can

sad news :frowning:

sad, trying to live that lifestyle is hard when the money is not still rolling in. Why buy a million dollar home. even if you pay it off the utility bill will kick your ass for ever. She made some dumb moves.

See kids. Get an education. Learn about $$ before you start making the big $$. OR, loose it because you dont know whats happening to it. If you dont know whats happening to your millions, nobody else will care, and your millions will be lost in no time by people who do know about $$.

she will be rich once again, give her about 20yrs when her kids start racing.

When did you see her training there? While she was still in school or was it more recently?

whoa yeah.

if she was smart she wouldn’t let them run. did someone say something about education before…

I forget who said to Mike Tyson, “If Don King trained for 10 years and got in the ring with you, what would happen?”
“I’d kill him in two seconds”
“That’s what he can do to you with contracts.”

hey now, there are folks with master and doctoral degrees that also go broke. I think it comes down to common sense and staying true to the people who has always been there with you also your love ones need to keep it real with you, in most cases there love ones always agree and tell them what they want to hear and they can do no wrong.

Being smart, and being $$ smart is two different worlds.

doesnt take education to be money smart, look at big time drug dealers.

Read Freakonomics - average drug dealer lives in their mom’s house, only the top are at the top :wink:

You are right though, money smart is different from academic smart. Although, academic smart in most cases leads to money smart, at least it should.