Scottie Pippen is a player who has the distinction of being remembered as one of the best to ever play while also always being mentioned second to his teammate on every occasion. Scottie was a huge part of the Chicago Bulls, even Michael Jordan has admitted that the team would not have achieved it all without him. But when it comes to both fame and wealth, Scottie didn’t receive nearly as much as MJ did.
This was a sore point for Pippen, especially the recognition aspect, with him speaking about how hurt he was by the Last Dance documentary and its portrayals. And Scottie is worth a reported $20 million today, which is still a lot more than most people, but very little compared to what some other legends of his era have managed to build.
This was in part thanks to Pippen being undervalued for a lot of his career, but his own decisions and mistakes have contributed to that. And buying a Gulfstream jet in 2002 without looking too much into it was one of those blunders. The story was shared by an NBA writer on Playmaker.
“However, Scottie didn’t turn on the engines before making the big purchase and learned the hard way. The jet not only couldn’t fly but needed $1 million in repairs to function properly. That was more than 20% of the cost of the jet itself.”
Scottie sunk a reported $4.3 million into his purchase, and that turned into a messed up situation for the Bulls legend. However, he was able to get a lot of his money back.
Scottie Pippen Sued A Law Firm And A Miami Businessman Over The Deal And Was Awarded A Combined $4.37 Million
Scottie Pippen wasn’t one to live with a situation like his failed purchase, so he turned to the courts to sort the matter out. He sued Pedersen & Houpt, the law firm that had monitored the purchase for $8 million, and was awarded $2 million (via ABA Journal).
“He was seeking $8 million. But a jury awarded former Chicago Bulls star Scottie Pippen $2 million this week in his legal malpractice claim against a Windy City law firm… The lawsuit revolved around an ill-fated deal to purchase a 2002 Gulfstream jet.”
He went on to further sue Miami businessman Craig Frost and his company, CF Air, so he could recoup some more of his money (via South Florida Business Journal).
“Former NBA basketball star Scottie Pippen has won a $2.37 million judgment against a Miami businessman, Craig Frost, and a Miami company, CF Air.”
While none of this was a good look for Scottie at the time, at least he can say he got the money he spent on his airplane back. It just took both time and money to make it happen, and if asked about it, Pippen would probably make a different decision about the whole thing in hindsight.
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