Michael Jordan to reportedly lose $1.5M from gym investment
Michael Jordan stands to lose $1.5 million from an investment in a Chicago-based gym that could soon be entering foreclosure, according to a report from ESPNChicago.com.
Tim Grover, owner of Attack Athletics Gym, filed for Chapter XI bankruptcy but a judge rejected the motion in July. Now, Grover is appealing the ruling so that his gym doesn’t go into foreclosure.
Jordan, coming off a physical series against the Detroit Pistons early in his career, was Grover’s first professional client. “He said he’d try it out for a month, and it ended up being 15 years,” Grover told ESPNChicago.com in 2009.
Located on Chicago’s West Side, the 65,000 square-foot-facility, replete with four basketball courts and a 10,000 square-foot weight room, has been a popular offseason training site for the likes of Kobe Bryant, Dwyane Wade and Tracy McGrady. Michael Finley, who is listed as a creditor for guaranteeing a $2 million loan, has also trained at the gym.
“It’s a first-class organization here with Tim Grover, first with Hoops and now with ATTACK Athletics,” Wade told ESPNChicago.com in 2009. “It’s a first-class thing we run. I say ‘we’ because I feel so much a part of it because I’ve been coming here since my rookie year.”