Michael Jordan probably doesn’t have to sweat losing $1.5 million in a gym investment — which is good for him because it could happen soon, reports say.
A Jordan-backed Chicago workout emporium that attracted superstars such as Kobe Bryant and Donovan McNabb is close to foreclosing. A bankruptcy bid by Tim Grover, the owner of in Chicago, was rejected by a judge last month, the Chicago Sun-Times reported. That means the mortgage holder is free to pursue foreclosure.
A pending appeal by Grover’s company, Attack Properties, could take a month or so, wrote the Chicago Tribune.