Sports stars swing and miss on real estate

June 20, 2008 02:11PM

More than 20 star athletes might have lost a combined $8 million dollars invested in California real estate. The sports starts made a bad bet on Atherton-Newport Investments, which went bankrupt in January. It’s unclear whether the market will rebound enough for them to get any money back. Toronto Blue Jays’ pitcher Roy Halladay and Los Angeles Angels slugger Vladimir Guerrero were among the investors. Halladay invested $1.17 million, while Guerrero invested $1.18 million. MTX Wealth Management LLC recommended the investment.

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