Sergei Fedorov's money troubles continue

fedorovandovie.jpgFormer Detroit Red Wings legend – and one of the first Russian hockey players to make an impact in the NHL – Sergei Fedorov made a lot of money in his storied NHL career. Unfortunately, it seems that he may have trusted the wrong people because he finds himself in serious financial trouble. In fact, he’s still planning on playing in the KHL at the age of 40 and beyond … out of necessity as much as anything else.’s George Malik shares some sad details about the former Hart Trophy winning center.

Former Red Wings forward Sergei Fedorov is owed $43 million by his former business partner, Joseph Zada, but as Zada either can not or will not repay Fedorov, the former Wing sued the Hyman Lippitt law firm–which represented both Zada and Fedorov at one point–in an attempt to actually receive the $60 million pay-off Zada had originally promised to pay Fedorov to settle their differences.

Subsequently, Fedorov’s lack of finances yielded three bank foreclosures on two homes in Metro Detroit and one in Florida, and, according to, Fedorov received worse news today–and it’s news that means that the nearly 41-year-old Fedorov, who played this past season for Metallurg Magnitogorsk, might have to continue his playing career to simply keep paying the bills.

Apparently Fedorov attempted to sue the law firm Hyman Lippitt in hopes of retrieving that $60 million sum but a district court in Michigan dismissed the case. Here’s more from the story that Malik helped to translate.

Due to the fact that he was the guarantor of Zada’s bank loans, collectors are pursuing Fedorov. At the end of last year, they tried to steal the hockey player’s luxury Maybach Mercedes Benz, his Maserati, and Ferrari, but the court overturned the decision regarding repossession. Moreover, the forward finds himself in the role of an accused party–an American company recently filed a lawsuit against the player for failing to pay $1 million for two houses in the suburbs of Detroit.

In general, Sergei either needs to find eternal youth in hockey, or better lawyers.

It’s a sad story but the worst part is that it isn’t that rare in sports. Just look at the cases of $100 million athletes such as Antoine Walker, whose bad moves and excessive generosity resulted in seemingly improbable bankruptcy. Professional athletes are just as susceptible to trusting the wrong people, losing big in gambling (Jaromir Jagr, Charles Barkley) and bad investments.

Hopefully Fedorov will get some kind of relief from his money problems. He was a great player who (to my knowledge) never really had any off-ice issues (aside from dating Anna Kournikova maybe?) and proved that Russian players were worth the risk after the fall of the Iron Curtain.

(If you want to read more about the subject, check out Malik’s article.)

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    Kings GM says Mike Richards went into ‘a destructive spiral’

    Mike Richards

    The Los Angeles Kings may owe Mike Richards money until 2031 (seriously), but in settling his grievance, the team and player more or less get to turn the page.

    Not before Kings GM Dean Lombardi shares his sometimes startling perspective, though.

    Lombardi has a tendency to be candid, especially in the press release-heavy world of sports management. Even by his standards, his account of Richards’ “destructive sprial” is a staggering read from the Los Angeles Times’ Lisa Dillman.

    “Without a doubt, the realization of what happened to Mike Richards is the most traumatic episode of my career,” Lombardi said in a written summation he provided to the Los Angeles Times. “At times, I think that I will never recover from it. It is difficult to trust anyone right now – and you begin to question whether you can trust your own judgment. The only thing I can think of that would be worse would be suspecting your wife of cheating on you for five years and then finding out in fact it was true.”

    Lombardi provides plenty of eyebrow-raising statements to Dillman, including:

    • He believed he “found his own Derek Jeter” in Richards, a player who “at one time symbolized everything that was special about the sport.”
    • Lombardi remarked that “his production dropped 50 percent and the certain ‘it’ factor he had was vaporizing in front of me daily.”
    • The Kings GM believes that he was “played” by Richards.

    … Yeah.

    Again, it’s a powerful read that you should soak in yourself, even if you’re unhappy with the way the Kings handled the situation.

    Maybe the most pressing of many lingering questions is: will we get to hear Richards’ side of the story?

    Coyotes exploit another lousy outing from Quick

    Jonathan Quick
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    Despite owning two Stanley Cup rings, there are a healthy number of people who aren’t wild about Jonathan Quick.

    Those people might feel validated through the Los Angeles Kings’ first two games, as he followed a rough loss to the San Jose Sharks with a true stinker against the Arizona Coyotes on Friday.

    Sometimes a goalie has a bad night stats-wise, yet his team is as much to blame as anything else. You can probably pin this one on Quick, who allowed four goals on just 14 shots through the first two periods.

    Things died down in the final frame, but let’s face it; slowing things down is absolutely the Coyotes’ design with a 4-1 lead (which ultimately resulted in a 4-1 win).


    A soft 1-0 goal turned out to be a sign of things to come:

    Many expected the Kings to roar into this second game after laying an egg in their opener. Instead, the Coyotes exploited Quick’s struggles for a confidence-booster, which included key prospect Max Domi scoring a goal and an assist.

    It’s worth mentioning that Mike Smith looked downright fantastic at times, only drawing more attention to Quick’s struggles.


    After a troubled summer and a failed 2014-15 season, Los Angeles was likely eager to start things off the right way.

    Instead, they instead will likely focus on the fact that they merely dropped two (ugly) games.