O.J. Simpson‘s estate is facing a financial crisis as massive debts continue to pile up.
Story Summary:
- O.J. Simpson’s estate faces overwhelming debt, leaving it nearly worthless.
- The executor plans to sell Simpson’s belongings to pay off creditors.
- Simpson passed away in April 2024 due to complications from prostate cancer.
OJ Simpson estate overwhelmed by exorbitant debt
The once-wealthy NFL star, who passed away in April 2024, left behind an estate burdened by outstanding obligations, including a $33.5 million judgment owed to the families of Ron Goldman and Nicole Brown Simpson, which has ballooned to $100 million with interest.
To tackle these debts, the estate’s executor, Malcolm LaVergne, is looking to liquidate Simpson’s assets.
According to a TMZ exclusive, this includes selling off his personal belongings, such as memorabilia and even his Pro Football Hall of Fame ring, which LaVergne claims has mysteriously disappeared since Simpson’s death.
“It belongs to the estate, and I want it placed at my feet,” LaVergne said, expressing frustration over the challenges he’s facing in recovering Simpson’s property.
LaVergne is also focusing on recouping funds from a Las Vegas home that Simpson had invested in with the help of his son, Justin.
The estate aims to collect over $269,000 from the property, which has appreciated in value since its purchase in 2022.
Simpson, once a celebrated NFL star and actor, died on 10 April 2024, at the age of 76.
His family announced that he passed away due to complications from prostate cancer, which had worsened in the final months of his life, leading to his placement in hospice care.
Despite his infamous legal battles and financial troubles, Simpson’s death marked the end of a turbulent chapter in American pop culture history.
At the time of his death, O.J. Simpson’s net worth was estimated to be around $3 million, a significant decline from his peak during his football and acting career.
This remaining fortune is set to be distributed among his four surviving children, but it is unlikely to cover the massive debts owed by his estate.
Despite his financial downfall, certain income sources, such as his NFL pension and Social Security, remain protected from creditors, meaning his children may still receive some support.
However, the estate’s executor is under immense pressure to find additional funds to satisfy the numerous claims against Simpson’s assets.