David Sugarman, a Wall Street player who moved to Miami Beach to start Sugar Time sports agency, has filed for bankruptcy — and listed tennis legend Jennifer Capriati as his main creditor.
Sugarman claims in his bankruptcy filing he owes the 37-year-old Capriati $480,000.
Sugarman, who often appeared as a sports pundit on national news shows, could be in the hole for a total of $1.4 million, according to the federal court papers.
Ironically, the agency’s goal was to prevent clients from joining the swollen ranks of professional athletes who go bankrupt soon after retirement.
Sugarman’s Range Rover was repossessed on Christmas Day and his Collins Avenue condo was foreclosed on, but he maintained ownership of two dogs and a 9mm handgun, according to Sugarman’s filing.
“Jennifer invested in David’s business,” said Richard Wolfe, one of Sugarman’s attorneys. “David personally guaranteed Jennifer’s investment.”
“Sports agency is a very competitive, very tough business. David just had to move back to New York.”
With Capriati’s seed money and from his Washington Avenue office, Sugarman represented dozens of NBA and NFL players and helped them transition from college to the pros.
But Sugarman will also be remembered for his lawsuit against former partner Ronnie Chalmers, Miami Heat guard Mario Chalmers’ dad.
The lawsuit was settled, but according to court papers, Sugarman accused Ronnie Chalmers of failing to pay his share of the firm’s operating expenses and claims Chalmers took files and client information from Sugarman.
cleanup at versailles
Restaurant inspectors who visited Versailles, the staple of Miami’s Cuban cuisine, two weeks ago found 52 violations —some of them serious enough to warrant a second visit the next day, according to state records.
Among them, three violations listed as “high priority,” or capable of sickening the public if not fixed.
The high-priority violations at the Calle Oche eatery included: tamales, beef, chicken and pork stored at temperatures of 52 degree, nine degrees above the accepted temperature; foods not properly dated for freshness; and mold in the ice machine.
The good thing is: Workers at Versailles, which bills itself as the world’s most famous Cuban restaurant, cleaned up in a record time.
The followup visit yielded 20 violations, and just one deemed “high priority.”
A manager who identified himself as William declined comment and promised to reach out to his boss. That person didn’t contact Gossip Extra for comment.
real estate update
Thomas Kramer, the high-profile Miami Beach developer who has fallen onto hard times, has put his Star Island mansion up for rent.
Price: $150,000 a month.
Kramer, 56, was just ordered to pay $200 million to settle a lawsuit.
He has been quoted in other news media as saying he’s about to file for bankruptcy.
Kramer, who’s often credited for the South of Fifth revival, didn’t return a call and an email asking for comment about his rental.
According to the listing for the 10-bedroom mansion, the property boasts “an eclectic yet sophisticated ambiance” highlighted by “museum quality” antiques and art.