Lebron to purchase a $49.5 million mansion in South beach

[TrueRob]

I wonder if he has 50 million on hand, or does he have to take out a loan and pay interest. It seems like a lot of rich folk take out loans for these types of extravagant purchases.

[ImmortalD24]

What does a $110 million contract buy a person these days?

Apparently a lot of house.

A real lot of house.

Life & Style is reporting that LeBron James, who recently signed a six-year, $110 million deal with the Miami Heat, has started the paperwork to buy a $49.5 million mansion in the most expensive portion of Coral Gables, Fla. The home was once owned by Pat Riley, and was taken off the market shortly after "The Decision."

The home is the most expensive in Coral Gables, according to Life & Style, and features:

* eight bedrooms and 11 bathrooms;

* 880 feet of waterfront on Biscayne Bay;

* a master suite with a full gym;

* a private guest suite with its own tennis court and courtyard on an acre of land.

* a 150-foot dock

Taxes are about $1 million per year, with an additional $150,000 price tag for utilities. South Florida auto magnate Alan Potamkin owns the home, and he has listed the home for $49.5 million.

Life & Style reports it's a "slam dunk" the home will soon belong to James.

How does Pat Riley afford a $49.5 million dollar home?

[El Kabong]

How does Pat Riley afford a $49.5 million dollar home?

Probably didn't cost that much when he bought it.

[Kobe Jnr]

Forbes say he made around 40 million last year...

plus all the other years..

[pete's montreux]

If you were worried about the future, you wouldn't be renting.

You really think I'd rent for the rest of my life? The total cost of rent for a year would be less than the taxes he pays on his fifty million dollar home.

[Doranku]

At least there are plenty of showers where Gloria can smash the homies in.

[Tito Beasley]

The guy will make 110mil in 6 years, without crazy endorsment money, plus already made 3 times as more as that being in Cleveland, the guys set for life. 49.5 MIL is insane to us, but not to him.

No, it is still insane for him. Not saying it will bankrupt him, but it is a huge commitment nonetheless. I don't know much about Lebron's other expenditures, i.e. whether he has a pricey car collection or whether he's jewelry crazy and all that. Yeah, Lebron does make wild dough, but even still.... he doesn't own McDonalds or Wal Mart. That's the kind of person that would pay 49M for a house.

[snipes12]

no, its part of the package of what heat did offer him , they just made up this news so they could avoid legal issues

[Chalkmaze]

How does Pat Riley afford a $49.5 million dollar home?

That ****er is smart, he made several million just off of copyrighting the word's "Three Peat". You and I could have easily could have done the same thing and made a few million to put in our own bank account.

[Funnyfuka]

if he doesnt know what to do with his millions just send em to me ffs. 50 n house? what for? uterly retarded. Nice planning to buy it long before the "decision"...who does he thinks he s kidding here.

[strike first]

way overboard

[Pinkhearts]

I dunno how much he makes on his endorsements, but he is splashing almost all his after tax earnings on salary on this house. He'll be one of those who go broke after retirement.

[MeLO MvP 15]

he also has a house in the suburbs area...

[yeaaaman]

No, it is still insane for him. Not saying it will bankrupt him, but it is a huge commitment nonetheless. I don't know much about Lebron's other expenditures, i.e. whether he has a pricey car collection or whether he's jewelry crazy and all that. Yeah, Lebron does make wild dough, but even still.... he doesn't own McDonalds or Wal Mart. That's the kind of person that would pay 49M for a house.

That is an insane amount of money but I'm not sure it's as big as some people on here are making it out to be. This guys is looking to become a billonaire athlete, granted it hasn't happened yet but he has the chance to make it there or somewhere close. And let's not forget, I'm sure he pays big coin for financial advisors who's knowledge on his earnings and expenditure far outstretch the knowledge of some of our very own ISH experts.

[rezznor]

while i agree i think 50 mil is too much, he does have warren buffet on speed dial so i'm assuming he will be ok.