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7/30/09 7:08 PM | Johan Lindahl
While Rafael Nadal will soon be comfortably settled into a chic holiday home he ecently purchased in the Dominican Republic, real estate matters are taking the opposite turn half a world away for former player Mark Philippoussis.
Nadal has lent his name to a resort on the Caribbean island awash with Spanish investment money. The complex where he will now be able to pass his holiday while on the far side of the Atlantic includes all of his favourite things: golf courses, tennis courts and beaches.
The project is conveniently located 45 minutes from the Santo Domingo international airport.
While Nadal is blseed with millions - and likely got a sweetheart deal on his home for his name value alone - it's just the opposite for Philippoussis, now all but officially out of tennis after years of knee injuries and other setbacks.
The world financial crisis hit the big spender hard has his income sank while his de luxe tastes failed to downsize at all.
Facing eviction from his house in a Melbourne suburb on which he owed in excess of $1 million, the property failed to attract an attractive bid at an auction instigated by creditors. But estate agents insist the house will soon be sold, which would help the one-time $8 million man pay off his some of his crushing debts.
Philippoussis had borrowed against the house in the good times and had recently been crippled by $8,000 per month loan repayments.
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RAHF has dominance which has proven a worth far greater than most can dream of....A pro at a young age and the road showing tough hurdles that he overcame as a young one, is a thing of beauty exceeding him to the very top of the tennis world ranking. The World No.1..But he needs to decide whether is fair to just do with things the way he has. I believe every now and then an athlete of the most 'difficullest' game in the world, will need to realise how very important it is to 'assure' themselves of the rest the human body acquires in order to keep improving. . . . Then and only then will they find the satisfaction in which to handle some quite fiery challenges of life. Nothing beats that rush,...
tauojtcer , 7/31/09 4:19 AM
great acquisition! enjoy, rafa! you deserve it!
memi , 7/31/09 5:50 AM
At last Rafa is begining to enjoy the fruits of his hard work, he deserves it. I hope goes on working hard and playing hard for many years to come.
What a shame about Philippoussis having to scale down so much, and he is not even on the Seniors tour where he could continue to earn from tennis. The credit crunch also affected Agassi and Steffi over some property deals, but I don't think they have suffered too much financially.
carrie , 7/31/09 12:08 PM
This is a complex game if you play it for living. You must have big money to play it and stay alive in it.
Ariel , 8/1/09 12:17 AM
The article doesn't say anything about his acquisition.
But I'm sure it's a homely place.
Good for him.
As for Philippoussis = you rip what you sow.
Shireling , 8/1/09 9:51 AM
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Is nice to hear that Nadal has an property in Dominican Republic that he will come (I hope) many times. I might be able to see him for real! yay! :DD
Philippoussis is falling down more and more when i read a new topic. Poor dude, i hope he get to pay all his debs and stuff.
Ariel , 7/31/09 12:24 AM