"We have taken a gigantic financial hit through real estate problems"
By mustang6560 on 8/1/12
David Duval was once a force to be reckoned with on the PGA Tour. From 1997 through 2001, he won 13 tournaments including the 2001 Open Championship and he ascended to the top of the Official World Golf Rankings. However, he's major triumph at Royal Lytham & St. Annes 11 years ago was the beginning of the end for the former world number one.
In 15 starts on the PGA Tour in 2012, David has missed the cut 13 times. And in the two cuts he made (T60 at the Valero Texas Open and T66 at the Zurich Classic of New Orleans), he's only earned $26,696, which puts him near the bottom of the FedExCup standing (206 out of 266).
But, despite his irrelevance on the golf course, David can take solace in knowing that he's still relevant to gossip websites like TMZ. The website reported earlier this week that David's $12 million mansion in suburban Denver is in foreclosure. Naturally, David staunchly denied the claim.
"We have taken a gigantic financial hit through real estate problems," he said. "We’ve been severely hurt — like a lot of people. I imagine there’s a thousand people in Denver that are hurt just as bad, but it’s not reported on. That’s the public figure thing. We have diligently engaged the bank for months. We have a resolution. They’re happy with it, we’re happy with it. And we’re moving forward."I'm glad to hear David is not in foreclosure on his house. And, I wish him well in the Reno-Tahoe Open this weekend. It's no fun to struggle on the golf course and David has done a lot of struggling since 2001.
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Image via Flickr, Keith Allison
[ comments ]
It is hard for me to dredge up much sympathy for someone struggling with the payments on a $12,000,000 home.
I still have not earned as much as he has playing golf this year... I hate my job.
Hmmm....still playing golf on the best courses of the world, despite missing the mortage payment.. blessed fellow still in my book.
He's actually in a tough situation. You could say, "well, sell the house and you'll have plenty of money" but that's easier said than done. There isn't much of a market for houses at that price level. He's kind of screwed.
Not much sympathy here,it doesn't take a brain surgeon to realize the market for a house like that is extremly limited. (Probably only brain surgeons.) Why built something you can't sell. Looks like he managed his money as well as he managed his game.
Wow, tough crowd. I don't begrudge him. He played well, won lots of money and bought some pricey real estate. Like many of us, he didn't see the real estate bust coming, at least not before his game began going. I wish him well. I'm sure he'd sell the house and downsize if it was simply that easy.
No doubt underwater on the house.
That fact alone could account for the stress that is probably affecting his game.
S. Porterhouse says:
Growing up I was amazed by watching his game. He is the first professional that got me interested in the game. It's a shame Ely Callaway is gone, maybe he'd do a favor for him just like john Daly. My other favorite back in the day.
Sadly this story sounds similar to the ones about NBA/NFL former players (or other athletes) who thought the money would never stop coming in and made some questionable financial decisions...and are now regretting them.
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