Julius Erving is Broke

Everyone loves Julius Erving. The former basketball superstar remains an global icon — for fans of all ages. However, money apparently isn’t very fond of Dr. J. A new report shows that Julius Erving is indeed broke.

His trouble began in 2009 when he took out a $1 million loan. Although he was able to pay back a majority of the loan, he still owes more than $200,000. The bank is now coming after him.

How is Julius Erving going to repay the money he owns? Sadly enough, he’s going to auction off a lot of his memorabilia. The list includes championship rings, MVP trophies, game-worn uniforms and other valuable items from his basketball career.

And with the NBA lockout still dragging on, Dr. J can’t be rescued by a lucrative job. It’s a shame.

Julius Erving Broke