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T.O. Show Gets Weirder; He Might Rush To Chi Afterall

Posted by on Nov 10, 2011 | 0 comments

In my first report on the former NFL Wide Receiver, I had mentioned that after he held his public workout a few weeks ago no NFL teams were interested. Owens is attempting a comeback to the NFL after injury plagued seasons in Buffalo in 2009 and Cincinnati in 2010. In April while recovering from meniscus surgery, Owens had torn the ACL in that same knee. He had surgery again and he is hoping to make a comeback to pro football, but so far no one in the NFL is interested.

But a couple days after he held his public workout in Los Angeles, the Chicago Rush of the Arena Football League offered T.O. a contract. It has come to light recently that Owens is in need of the millions that are paid via NFL contracts. Recently season 3 of his VH1 reality show “The T.O. Show”, reveals that he is struggling financially to some degree. Last year Owens invested money into a project that he thought was going to be an Alabama casino.

But it turns out that Owens was one of many investors who were scammed by a money laundering scheme that ended up taking millions of dollars from people. Owens says he invested $4 Million of his own money in the project. A woman who claimed to be an “Account Executive” for this scam was the one who took T.O.’s money. Owens says that once the scam came to light, he was unable to contact this woman and has not heard from her in months. His money has yet to be returned or recovered.

Owens also revealed on his show that he was essentially “robbed” by a friend of his whom he trusted with his debit card. Owens claimed that this “friend” was only permitted to use the card to pay his rent. Owens said he discovered that this “friend” had rented an apartment and was living with 4 other people. All 5 people in the apartment were unemployed and were living off of T.O.’s money. He noticed in his bank statement that this unnamed male friend used his money not only for the apartment…

But also used it for daily living expenses, monthly bills, and went on numerous spending sprees. Owens claimed to have lost another million or so with that disaster and terminated the account. It is unknown if he pressed charges in the matter. We would also come to find out at least half of Owens’ family members {Including his brother, mother, and grandmother} depend on his money. Losing all that money has caused T.O. to scale back on family assistance.

Keep in mind Owens also has to pay his Agent Drew Rosenhaus, and his 2 publicists Monique Williams and Kita Jackson. But the biggest monetary problem Owens faces is the numerous properties he owns throughout the country. So far he has managed to sell his San Francisco area condo that he lived in while playing with the 49ers from 1995-2003. But he still has his Jersey Shore mansion from his time with the Philadelphia Eagles from 2004-2005.

He also has his townhome in Ft. Worth Texas from his time with the Dallas Cowboys from 2006-2008. During his days in Buffalo and Cincinatti he rented hotel rooms. But from 1999-2005 Owens spent his offseasons at a lavish estate in Atlanta. He also has a Condo in Los Angeles where he has been living for the most part since his departure from Dallas. During his offseasons in Dallas, Owens lived in an expensive beach front apartment in Miami.

And while recovering and rehabbing from his recent surgeries, Owens rented Condo’s in both Miami and Pensacola, Florida. It is unknown if he still rents these condos. But as for the other properties, Owens is still paying the mortgage on each one. Owens says he is hoping to either sell or rent out the properties in Jersey, A-Town, and North Texas. Owens says he plans to live in Los Angeles when he’s not playing football. And as I’ve said the status of the Florida properties is unknown.

But until he can find buyers and renters, Owens is still paying for those properties. But rumors have come about over the last couple days that the Atlanta property is about to be foreclosed on. Another major issue that has come up recently is child support payments for his 4 children with 4 different women. Owens was sued by the mother of one of his daughters over child support payments earlier this year but settled out of court.

The mother to one of his sons filed a child support complaint in a California court room back in October. The mother says that Owens was not paying the full amount of monthly child support, Owens has asked that the payments on this particular child be reduced. A bench warrant was issued for T.O. after he failed to show up for court on this matter. Owens says that he tried to reschedule the court date but was unsuccessful thus resulting in the warrant.

Owens did turn himself in and the case is currently pending. After turning himself in, Owens said he will seek lower payments for his other children as well. So…… It’s obvious that Owens made a bad investing decision as far that non-existant casino goes. I hope that everyone who was victimized somehow gets their money back and that those responsible are brought to justice. As for the debit card issue, that was just a flat out dumb idea.

You’re a multi-millionare, did you honestly think that someone in that situation wouldn’t take advantage? As for the properties, that’s just frivolous spending right there. It’s one thing to move from one city to the next when you’re a pro athlete. But all of the offseason homes are very unnecessary and now you gotta pay the price. Because of this financial mismanagement his family now has to pay the price. Owens sure as hell could use an NFL contract right now.

Which brings me back to the Chicago Rush. Can the Rush honestly afford to pay Terrell Owens? Between 2002-2008, unnamed sources say that the AFL was able to play it’s players between $80,000 to $2 Million a season. When the economy tanked in the fall of 2008, the AFL’s biggest corporate sponsors took massive financial hits. And the local sponsors for it’s teams also lost money to some degree. Unfortunetly the AFL became very dependent on sponsorship money and the league ended up suffering as a result.

So the AFL suspended the 2009 season to get it’s books in order and restructure financially. When they came back in 2010, there were fewer sponsors and significant pay cuts. Some teams folded, other teams went to different leagues, and some teams didn’t return until 2011, and there are even a couple teams who will finally return to the league in 2012. According to recent information, the AFL now only plays it’s players between $10,000 to $50,000 a season. Some AFL players supplement their income by either playing in the UFL in the fall, or working offseason jobs.

The Rush has said that they are willing to raise ticket prices and offer “comprehensive season ticket packages” to afford Terrell Owens contract. Now, considering that league rules state that contract terms are not to be disclosed one can only assume what the Rush are offering Terrell Owens. I’m sure that they are aware of Owens recent troubles. And I am assuming that if they want Owens to be a part of the team, either he will be the highest paid player or they will offer major incentives.

Unless the NFL comes through with an offer to Terrell Owens, he just might have to take the Rush’s offer. But if there is one bright spot, it’s that T.O.’s acting career is finally starting to take off. Owens is set to star in the motion picture “Dysfunctional Friends” co-starring Stacy Dash and Wesley Johnathan sometime in 2012. So unless Owens can make enough movies to pay his bills, either football or some miracle will have to come his way.

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