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View Full Version : Arantxa's $60 million fortune is gone


Benhur
02-06-2012, 10:20 AM
http://www.perthnow.com.au/sport/tennis/arantxa-sanchez-vicarios-us60-million-fortune-gone/story-e6frg273-1226264239506


FORMER world No.1 Arantxa Sanchez-Vicario has accused her parents of leaving her with virtually nothing of an estimated US$60 million fortune.

The winner of four grand slam titles, and 98 titles (singles and doubles) overall, Sanchez-Vicario reportedly claims her parents Emilio and Marisa controlled almost every aspect of her life, including finances.

Now Spain's Fed Cup captain, Sanchez-Vicario also reveals in her new book, Arantxa, Vamos! Memoirs of a struggle, a life and a woman, that she is under investigation from tax authorities.

The triple French Open winner says she no longer speaks with her parents or her brothers Emilio and Javier, both former players.

"My parents made me suffer a lot," Sanchez-Vicario is quoted by magazine La Otra Conica.

"My parents left me with nothing and now I am indebted to the (tax authorities) and I will not be quiet."

Sanchez-Vicario, 40, amassed prizemoney of $US16.9 million over her career. Her endorsements boosted that figure to about US$60 million.

"Today, I am without resources," Sanchez-Vicario said, confirming her lawyers are negotiating with Spanish Government figures over alleged unpaid taxes from 1989-1993 when she claimed to be based in Andorra, a tax haven.

bluetrain4
02-06-2012, 10:43 AM
Wow!! This is truly surprising, as I've never really heard much about ASV since she retired or heard rumors about financial difficulties. I hope she can get her situation straightened out. And, it's really horrible that she is estranged from her family.

Saw her on television at the AO. She looks great, significantly better, IMO, than when she was playing. What does her husband do?

treblings
02-06-2012, 11:00 AM
Steffi Graf , because of her father, also had severe difficulties with the tax authorities. must have been around the same time period.

difficult to avoid paying taxes legally:)

Agassi-Fan
02-06-2012, 11:16 AM
That really sux for her. Seems like it is more common for tax authorities to be cracking down these days.

boredone3456
02-06-2012, 11:17 AM
WOW This is surprising and sad for her. So long after it happened now she needs to try and figure this all out. So many players seem to have insanely overbearing parents in their younger days...not surprising seeing the amount of $$ available in tennis today but still a tragedy that any parents could do something like this or be a part of something so destructive on their children.

Benhur
02-06-2012, 11:29 AM
It seems to be a common story with women players, problems with the father, and then the rest of the family. In other articles I've read on this, she says her parents controlled everything about her, including her haircut and her clothes. He gave her a monthly allowance and she had to give a detailed account on what she spent it on. The only member of her family with whom she remains on speaking terms is her brother Emilio.

bluetrain4
02-06-2012, 11:38 AM
It needs to be asked - is any of this her fault? I know that it's not as simple as becoming a legal adult and gaining complete control of your finances, especially when you've been controlled by a parent your whole life and don't know much about finance, and your parents could even have a contractual stake to some of the money. But, in later years was there anything that she could have done to prevent further erosion of her finances?

I ask none of this to denigrate or disparage ASV. It's a really bad situation, and it sounds like she never received much of her earnings in the first place, like her Dad took it from her and told her everything was taken care of. And, I can only imagine the difficulty of having to "deal" with it - weighing whether or not to sue your own family and risking your relationship with them.

Mustard
02-06-2012, 12:24 PM
I'm surprised. The Sanchez family seemed very close when Aranxta, Emilio and Javier were all playing.

Benhur
02-06-2012, 12:45 PM
I'm surprised. The Sanchez family seemed very close when Aranxta, Emilio and Javier were all playing.

I was surprised too, but these very tight family relations with overbearing parents can also build up a lot of resentment. It’s hard to understand how parents can insist on controlling even such details as haircuts and clothes on a 18 or 20 year old. I am pretty sure her parents were not nearly as controlling with Emilio and Javier. Her mother has just replied with a very bitter statement of her own. There seems to be a lot of bitterness on both sides of it.

Mustard
02-06-2012, 01:03 PM
I was surprised too, but these very tight family relations with overbearing parents can also build up a lot of resentment. It’s hard to understand how parents can insist on controlling even such details as haircuts and clothes on a 18 or 20 year old. I am pretty sure her parents were not nearly as controlling with Emilio and Javier. Her mother has just replied with a very bitter statement of her own. There seems to be a lot of bitterness on both sides of it.

That's what's surprising, as when Arantxa was a tennis player, she came across (to me, anyways) as independent, with a colourful personal life, while still being close to her family. She also got married and divorced while she was still playing on the tour.

kiki
02-06-2012, 01:24 PM
I guess, the best father-son relationship was the Mc Enroe´s, with daddy providing all legal counsel as a reputed new York lawyer...and John spending tons of it on rock & roll and somoke...

forthegame
02-06-2012, 01:27 PM
Shame really, if it's true. Facts will always be limited in these sorts of cases.
I hope the current generation learn lessons from the past. Multiple millions can vanish just as quickly as tens of thousands.
Beggars belief though, how you go from $60m (in the 1990s) to nothing!

kiki
02-06-2012, 01:41 PM
That's what's surprising, as when Arantxa was a tennis player, she came across (to me, anyways) as independent, with a colourful personal life, while still being close to her family. She also got married and divorced while she was still playing on the tour.

It was more a business than a family.Like Connors,Evert,Williams,Austin,Jaeger,Graf and so many, many.I think, honestly - and of course I don´t know the insides- but the Mac´s relationship seemed to me the most natural.John was never pushed, and they were pretty well off without John´s bucks...

Mustard
02-06-2012, 01:43 PM
I guess, the best father-son relationship was the Mc Enroe´s, with daddy providing all legal counsel as a reputed new York lawyer...and John spending tons of it on rock & roll and somoke...

And the Seles family.

It was seen as a negative for Seles when Bollettieri released her from his academy in 1990 and she responded by saying that her father was her only coach. But it worked out brilliantly over the next 3 years. The difference in Monica's situation was that she was so enthused by tennis from a young age that she was dragging her father out in the mornings to hit tennis balls, and her father knew little about tennis until he got involved, so he didn't have any ideas about how tennis "should be played". Bollettieri's academy, for example, got rid of Seles' style of using two hands on both sides, until her father reinstated it when he came over from Yugoslavia, saying it was how Monica used the racquet when she played with it, so it was natural for her.

kiki
02-06-2012, 01:46 PM
And the Seles family.

It was seen as a negative for Seles when Bollettieri released her from his academy in 1990 and she responded by saying that her father was her only coach. But it worked out brilliantly over the next 3 years. The difference in Monica's situation was that she was so enthused by tennis from a young age that she was dragging her father out in the mornings to hit tennis balls, and her father knew little about tennis until he got involved, so he didn't have any ideas about how tennis "should be played". Bollettieri's academy, for example, got rid of Seles' style of using two hands on both sides, until her father reinstated it when he came over from Yugoslavia, saying it was how Monica used the racquet when she played with it, so it was natural for her.

I was talking form a financial or eprsonnal kind of relationship.The mac´s were the perfect family to grow up, honesly..and Kay Mac Enroe was a super classy lady from uptown Queen´s, that is, middle to high class with pretentions but very liberal views....classical New Yorker.

kiki
02-06-2012, 01:49 PM
I'm surprised. The Sanchez family seemed very close when Aranxta, Emilio and Javier were all playing.

BTW, you seem to be very keen on Connors.Do You recall when he has positioned himself politically? mean, Rep or Dem? Liberal or Con ?.I know a few tennis stars like JMac,Panatta,Vilas,Alexander,Mottram,Lendl,Orantes ,Sanchez...but not Jimbo.

Mustard
02-06-2012, 02:01 PM
BTW, you seem to be very keen on Connors.Do You recall when he has positioned himself politically? mean, Rep or Dem? Liberal or Con ?.I know a few tennis stars like JMac,Panatta,Vilas,Alexander,Mottram,Lendl,Orantes ,Sanchez...but not Jimbo.

I don't know Connors' political views. My gut instinct is that he cares very little for politics, and is no republican. Connors has said himself that he doesn't dance to any beat, only his own.

What are the political views of those other guys you mention, by the way? I know McEnroe is a democrat, Panatta is a communist, Lendl is a republican, Mottram is a fascist. What about the others?

kiki
02-06-2012, 02:24 PM
I don't know Connors' political views. My gut instinct is that he cares very little for politics, and is no republican. Connors has said himself that he doesn't dance to any beat, only his own.

What are the political views of those other guys you mention, by the way? I know McEnroe is a democrat, Panatta is a communist, Lendl is a republican, Mottram is a fascist. What about the others?

Alexander is now a MP for the LPA ( Liberal-Conservative, centre right).Arancha went in the PP (People´s party of Spain) list for the Local elections in Barcelona; I think she didn´t get her seat, but was definitely on that list.

Mustard
02-06-2012, 02:27 PM
Alexander is now a MP for the LPA ( Liberal-Conservative, centre right).Arancha went in the PP (People´s party of Spain) list for the Local elections in Barcelona; I think she didn´t get her seat, but was definitely on that list.

What about Guillermo Vilas and Manuel Orantes?

BTURNER
02-06-2012, 02:28 PM
Evert still has mostly good things to say about how her father handled her money and tennis career. Of course she realizes how sheltered she was from many of the practical nuts and bolts of life and economics to her detriment later , but I don't sense bitterness or any suggestion of cheating. More like a necessary evil so she could concentrate on tennis. She was very satisfied with how the money was invested.

kiki
02-06-2012, 02:29 PM
What about Guillermo Vilas and Manuel Orantes?

Orantes was friends with some people of the PSOE (Socialist party), but he was more a conservative with moderate ideas.Vilas, as far as I recall, supported the UCR.

kiki
02-06-2012, 02:37 PM
...and Ilie Nastase was Bucharest major Candidate for the NF.

Benhur
02-06-2012, 03:47 PM
What about Guillermo Vilas and Manuel Orantes?

I don't know about their political views. I once read comments made by Tiriac after he became Vilas' manager/coach, to the effect that Vilas had a penchant for excesive daydreaming and poetry, and unless pushed and disciplined, he'd just loaf around or write poetry.
Orantes is from a working class family from Andalusia who emigrated to Barcelona.

Chopin
02-06-2012, 04:57 PM
That seems slightly odd. She earned 30-40 times what a financially successful person might make in a lifetime before the age of 30 (and not adjusted for inflation) and it's all gone? I can't say I feel that bad for her. She could probably work as a commentator or something and earn lots of money. Heck, does she still look good? She could probably do some commercials or something. Or work at an academy for a year for a 100 grand salary.

hoodjem
02-07-2012, 07:20 AM
Steffi Graf , because of her father, also had severe difficulties with the tax authorities. must have been around the same time period.

difficult to avoid paying taxes legally:)Easier to pay taxes illegally.

chmee
02-07-2012, 07:58 AM
Steffi Graf , because of her father, also had severe difficulties with the tax authorities. must have been around the same time period.

difficult to avoid paying taxes legally:)

Allthough Steffi's father got jailed somewhere mid 90's because of tax evasion, I don't think there were much similarities to Arantxa's case. No fortunes were lost, nor have the family relationships suffered as bad as here.

Sad news this:(

kiki
02-07-2012, 08:48 AM
That seems slightly odd. She earned 30-40 times what a financially successful person might make in a lifetime before the age of 30 (and not adjusted for inflation) and it's all gone? I can't say I feel that bad for her. She could probably work as a commentator or something and earn lots of money. Heck, does she still look good? She could probably do some commercials or something. Or work at an academy for a year for a 100 grand salary.

In that, I fully agree.I certainly won´t cry for " poor" Arancha.

...and she never looked any good, IMO...

pabletion
02-07-2012, 08:51 AM
Marisa Vicario, ex tennis player Arantxa Sanchez Vicario's mother, has released a public statement, responding to her daughter's memoir book extract, where she recognizes it is clear that she and her husband failed with the current Fed Cup spanish captain. Arantxa was harsh a couple of days ago regarding her past.

The former tennis player's mother points out in a statement released by EFE by her lawyers this saturday that she "woke up with one of the worst news that a parent can receive". "With great surprise, and great pain, I came to realize that our daughter Arantxa has made one more step in her attempt to hurt and humiliate us", she adds.

Marisa Vicario explains that her husband, Emilio "who has a delicate heart", was diagnosed two years ago with "a very harsh intestine cancer" and that a year and a half ago was also diagnosed with Alzheimers. "You can imagine everything it all brings. Personally I try to gain strenght seeking support and comfort from the rest of my kids and grandkinds", Marisa Vicario claims.

"During all this time we have not received not one single visit from our daughter Arantxa. Not a bit of concern. Not one "who are you all?", the Fed Cup Captain's mother explains. "Now we get the news that Arantxa's book is coming out, which attacks, apparently, the whole family and buries our spirit. This is what is tough, not the cancer or Alzheimer, nothing can hurt more than two parents who are accused by their daughter of being guilty of all her problems. The pain we feel is inexplicable, the knot we feel in our stomachs all the time", she adds.

"I am 75 years old, my husband, 79. We never imagined that something like this could happen. This situation is a real disease that affects the soul directly and, although we try to assimilate it all with dignity, we are running out of strength", she narrates. Marisa Vicario points out that, as they read the published report, they felt they were sinking "more and more", "not only from all of the lies she tells", but also because they noticed "the real state" their daughter is in.

"We lived 20 years with and for her. We left it all aside and mortgaged our lives and marriage. I was with her personally since she was really young, to every tournament, leaving behind my husband and other kids. Then, my husband left his job to accompany and help yer", she adds. "We tried the best we could. It is clear that we have failed with her. The one we gave the most, it turns out that -having turned 40- she realizes that everything that is going on in her life is our fault. She accuses us of leaving her broke, of taking everything, with bitterness and resentfulness worthy of the worst of enemies", the former player's mother continues in her letter.

She adds that they are expecting the book's publishing and that, against their dislike, they will read it carefully. "Then the time will come when I (in Emilio's name as well) or our lawyers respond to the false accusations against us. And it will be, of course, clear that we never took advantage of Arantxa and that, of course, she is not broke", she concludes.
En sus memorias Arantxa Sánchez Vicario arremete contra sus padres y los acusa de dilapidar su fortuna y de no tratarla igual que a sus hermanos, los también extenistas Emilio y Javier. De sus progenitores dice frases como "no me hablo con mi familia" o "me han dejado sin nada".

In her memoirs, Arantxa Sanchez Vicario goes against her parents and accuses them of throwing away her fortune and of not treating her the same as her brothers, former tennis players Emilio and Javier. About her parents, she says things like: "I am not speaking with anyone from my family" or "they've left me with nothing".

Original source: http://www.as.com/tenis/articulo/madre-arantxa-claro-fracasamos/20120206dasdasten_4/Tes

It is clear that this story has got a long way to go still, there are always two sides to one story, or even THREE: Arantxa's, her parents, and the TRUTH.

Sentinel
02-07-2012, 09:00 AM
Now I am really worried about Rafa. He needs to watch out lest Tio Toni and Papa don't run away with his 100 mills.

bluetrain4
02-07-2012, 09:15 AM
Oh God, reading the mother's carefully-crafted-for-maximum-sympathy response (yes, we heard you the first time - cancer, Alzheimer's, pain, suffering), it appears that there's huge dysfunction going on and both sides are trying to paint the situation as black and white - one side is totally the right and the victim, and the other side is totally wrong and the horrible perpetrator.

It's really, really horrible sitation. Obviously, somethng went very wrong, or many little things went wrong, they weren't addressed, people stopped talking, and resentment mushroomed.

Sanchez family - try to get it together. And, keep it out of the press. Now you've made it a specator sport.

It's so odd. There was never any sign during her career that ASV was some sort of black sheep of the family. But, it does happen.

Tammo
02-07-2012, 12:18 PM
Wow, the prize money and contracts were much less then.

Chopin
02-07-2012, 01:30 PM
In that, I fully agree.I certainly won´t cry for " poor" Arancha.

...and she never looked any good, IMO...

True, her and Graf both were never anything special in the looks department.

I just googled her though it says she's the Spanish Fed Cup Captain now:

http://www.fedcup.com/en/news/articles/sanchez-vicario-named-spanish-captain.aspx

I'm sure that salary is well more than what the average person makes. What kind of person publicizes this stuff anyways?

kiki
02-07-2012, 01:32 PM
True, her and Graf both were never anything special in the looks department.

I just googled her though it says she's the Spanish Fed Cup Captain now:

http://www.fedcup.com/en/news/articles/sanchez-vicario-named-spanish-captain.aspx

I'm sure that salary is well more than what the average person makes. What kind of person publicizes this stuff anyways?

This lass wanted to be in the public´s eye, marrying all journalist she could so people would still talk about her...as for looks, at least, Steffi had a great body,IMo...but Sanchez¡¡¡

Chopin
02-07-2012, 03:04 PM
This lass wanted to be in the public´s eye, marrying all journalist she could so people would still talk about her...as for looks, at least, Steffi had a great body,IMo...but Sanchez¡¡¡

Steffi had nice legs, I guess. Still, she's not in the same league as Maria Kirilenko.

That one is for you, Joe.

chmee
02-07-2012, 03:54 PM
I don't think her looks are a decisive moment in this case:???:.

A revealing book, a careful lawyer brushed contradiction, well there is going to be some dirty laundry in spanish tennis scene.

I still wonder how one could lose 60 Mio $ without throwing it out of the window. Of course Alzheimer doesn't help to clarify things.

Actually Arantxa took her mother's birth name (-Vicario) as a tribute to her long ago. So sad how money ruins families:(

jrepac
02-07-2012, 04:36 PM
Lessons learned:
--Manage your OWN money; don't let your family do it
--Pay your GD taxes!

Really, if they were not screwing around, maybe she would be in a better position today.

Bartelby
02-07-2012, 04:42 PM
A masterpiece of evasion that only supports their daughter's case against them.




Marisa Vicario, ex tennis player Arantxa Sanchez Vicario's mother, has released a public statement, responding to her daughter's memoir book extract, where she recognizes it is clear that she and her husband failed with the current Fed Cup spanish captain. Arantxa was harsh a couple of days ago regarding her past.

The former tennis player's mother points out in a statement released by EFE by her lawyers this saturday that she "woke up with one of the worst news that a parent can receive". "With great surprise, and great pain, I came to realize that our daughter Arantxa has made one more step in her attempt to hurt and humiliate us", she adds.

Marisa Vicario explains that her husband, Emilio "who has a delicate heart", was diagnosed two years ago with "a very harsh intestine cancer" and that a year and a half ago was also diagnosed with Alzheimers. "You can imagine everything it all brings. Personally I try to gain strenght seeking support and comfort from the rest of my kids and grandkinds", Marisa Vicario claims.

"During all this time we have not received not one single visit from our daughter Arantxa. Not a bit of concern. Not one "who are you all?", the Fed Cup Captain's mother explains. "Now we get the news that Arantxa's book is coming out, which attacks, apparently, the whole family and buries our spirit. This is what is tough, not the cancer or Alzheimer, nothing can hurt more than two parents who are accused by their daughter of being guilty of all her problems. The pain we feel is inexplicable, the knot we feel in our stomachs all the time", she adds.

"I am 75 years old, my husband, 79. We never imagined that something like this could happen. This situation is a real disease that affects the soul directly and, although we try to assimilate it all with dignity, we are running out of strength", she narrates. Marisa Vicario points out that, as they read the published report, they felt they were sinking "more and more", "not only from all of the lies she tells", but also because they noticed "the real state" their daughter is in.

"We lived 20 years with and for her. We left it all aside and mortgaged our lives and marriage. I was with her personally since she was really young, to every tournament, leaving behind my husband and other kids. Then, my husband left his job to accompany and help yer", she adds. "We tried the best we could. It is clear that we have failed with her. The one we gave the most, it turns out that -having turned 40- she realizes that everything that is going on in her life is our fault. She accuses us of leaving her broke, of taking everything, with bitterness and resentfulness worthy of the worst of enemies", the former player's mother continues in her letter.

She adds that they are expecting the book's publishing and that, against their dislike, they will read it carefully. "Then the time will come when I (in Emilio's name as well) or our lawyers respond to the false accusations against us. And it will be, of course, clear that we never took advantage of Arantxa and that, of course, she is not broke", she concludes.
En sus memorias Arantxa Sánchez Vicario arremete contra sus padres y los acusa de dilapidar su fortuna y de no tratarla igual que a sus hermanos, los también extenistas Emilio y Javier. De sus progenitores dice frases como "no me hablo con mi familia" o "me han dejado sin nada".

In her memoirs, Arantxa Sanchez Vicario goes against her parents and accuses them of throwing away her fortune and of not treating her the same as her brothers, former tennis players Emilio and Javier. About her parents, she says things like: "I am not speaking with anyone from my family" or "they've left me with nothing".

Original source: http://www.as.com/tenis/articulo/madre-arantxa-claro-fracasamos/20120206dasdasten_4/Tes

It is clear that this story has got a long way to go still, there are always two sides to one story, or even THREE: Arantxa's, her parents, and the TRUTH.

MAXXply
02-07-2012, 05:32 PM
Meh. I'm calling B.S on this one. Just another concoction dreamt up by the publisher's PR machine and operating with the full consent of the Sanchez family. They're probably all having a right old laugh right now at all the publicity.

treblings
02-07-2012, 10:26 PM
Easier to pay taxes illegally.

:) the art is to avoid paying taxes without breaking the law.
as i understand it, many tennis players have their residence in other countries to avoid taxes at home.

treblings
02-07-2012, 10:28 PM
Allthough Steffi's father got jailed somewhere mid 90's because of tax evasion, I don't think there were much similarities to Arantxa's case. No fortunes were lost, nor have the family relationships suffered as bad as here.

Sad news this:(

different stories altogether. also this one is only just developing, so we won´t know the facts for a long time. in as much as we will ever know.

kiki
02-07-2012, 11:37 PM
Steffi had nice legs, I guess. Still, she's not in the same league as Maria Kirilenko.

That one is for you, Joe.

TT needs him back on the boards¡¡¡

Nuke
02-08-2012, 05:03 AM
Meh. I'm calling B.S on this one. Just another concoction dreamt up by the publisher's PR machine and operating with the full consent of the Sanchez family. They're probably all having a right old laugh right now at all the publicity.

Perhaps. It's true that publishers want an autobiography to contain some shocking elements that will sell the book. Sometimes there's a grain of truth, but the writer has to pump things up. So, for instance, Andre Agassi says he has always hated tennis. It's hard to believe some of these bios -- they're just selling books.

kiki
02-10-2012, 03:53 PM
It wouldn´t surprise me at all if they all were together playing their role to increase sales...Sanchez family was pretty good at marketing.

Spin Doctor
02-10-2012, 08:24 PM
First off, she didn't lose $60 mil. That was her gross earnings according to what the news article said. From her earnings she would have had to pay agent fees, coaching fees, manager fees (her parents should be entitled to fees if indeed they worked as her manager), travel expenses and other costs of being a player. Of the amount remaining a significant portion would have gone to taxes. I don't know what Spain's tax rates are like but you would have to assume at least 30% would have gone to Tio Samuel.

So the $60million is just a gross overstatement to begin with, designed to sell the book probably.

Certainly anyone with properties in Spain has probably taken a bath. Spain had a massive boom and naturally a massive bust since 2008 and given their high unemployment, the market doesn't look like it will recover. So I wouldn't be surprised if she is "under water" on her properties.

But "broke"? I doubt it. Or at least not a regular person's idea of being broke.

Benhur
02-14-2012, 06:07 AM
This seems to be getting nastier by the day. Arantxa insists she’s been “psychologically abused and financially plundered” by her parents, who just “quashed me at several points in my life”. There are 4 lawsuits open in different countries.
http://elpais.com/elpais/2012/02/14/gente/1329220336_761089.html

Moose Malloy
03-23-2012, 09:06 AM
Vanity Fair Spain will allege in its upcoming issue that Arantxa Sanchez-Vicario is not as broke as she claims in her autobiography, and is worth about 30 million euros ($39.4 million dollars). The former No. 1 accused her parents of having plundered the profits of her career, taking all of the 60 million dollars that she earned. But the magazine says she owns a score of buildings and parking lots, as well as having overseas bank accounts in Switzerland and Andorra that contain millions.

http://tennis.com/articles/templates/news.aspx?articleid=16928&zoneid=25

robow7
03-23-2012, 09:32 AM
If she's smart, it won't be invested in the banks of Spain, that's for sure.