How to reduce your $1.7m debt with collectibles (if you're an NFL legend)


2015-06-26 12:27:19


How to reduce your $1.7m debt with collectibles (if you're an NFL legend)

After running into bother with the taxman, legend 'Fuzzy' Thurston is selling his Superbowl ring...

As the economic recession continues, many of us a looking for new solutions to cope with debt.

But if you're former NFL player Frederick"Fuzzy" Thurston, then you have a more lucrative way of dealing with it than most...

The formerGreen BayPacker offensive lineman is auctioning his Super Bowl II championship ring and other autographs and memorabilia at Heritage Auctions in Rosemont, Illinois. Bids are scheduled to close on August 4.

Thurston hopes that the sale will help him settle $1.7m owed in back taxes. Yet the sale isn't an easy one, especiallyfor a man considered to be one of the most beloved players ever to wear the green and gold during his 1959-1967 career with the Packers.

Heritage's experts hope that the winning bidders will return the pieces to Thurston after the sale. Another possibility is that the winningcollectors will focus their attentions to another altruistic cause, such as the display of the materials in a public exhibition for fans.

Frederick "Fuzzy" Thurston's Super Bowl II championship ring is predicted to sell for $20,000 - but similar rings have brought considerably more in the past

Experts predict that Thurston's ring will sell for $20,000, although other rings from the early Super Bowls have brought higher amounts in the past. Meanwhile, news website Sportsrageous reports that experts are also hoping to track down Fuzzy's Super Bowl I ring to also help pay off his debts.

According to reports, a court verdict ordered Thurston to pay $190,000 after the former NFL legend withheld federal income taxes from employee salaries at his part-owned restaurant chain. Interest saw the initial figure rise to $1.7m.

So, will collectibles help Fuzzy with his debt relief? Given the past performances of early Super Bowl rings in the US auction markets, we think there's a good chance.

Watch this space for upcoming news on Heritage's sale.

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