From the Daily Beast: Gabby Douglas is America’s newest sweetheart. She’s also its
newest millionaire. Her mother, however, is broke. The 16-year-old gymnast, who became the first
black gymnast to win the all-around competition last week in London, stands to
make between $1 million and $3 million a year in endorsements, and has already
agreed to plaster her infectious smile on the Kellogg’s corn flakes box.
Douglas’s forthcoming gold-medal payday makes a new revelation about her family
all the more shocking.
Natalie Hawkins, Douglas’s mother, filed for bankruptcy
earlier this year in Virginia, court documents show. The Chapter 13 filing
reveals roughly $80,000 in debts, and will allow her to reorganize her finances
to pay down the total over several years. Hawkins, who went on long-term
medical disability in 2009, reported a six-month stretch in which the single
mother of four had little to no income.
The news comes the day after TMZ broke the story that Ryan
Lochte’s parents are facing foreclosure on their Florida home. CitiMortgage is
suing the Lochtes, claiming that they stopped making mortgage payments in
February 2011. As with Douglas, Lochte, who won five medals in London, is
primed for a slew of endorsement deals that couldn’t be better timed for his
family…..
Read all about it at http://www.thedailybeast.com/articles/2012/08/07/gabby-douglas-ryan-lochte-why-families-of-america-s-olympics-athletes-are-broke.html
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