Arantxa's $60 million fortune is gone

Discussion in 'Former Pro Player Talk' started by Benhur, Feb 6, 2012.

  1. Benhur

    Benhur Hall of Fame

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    http://www.perthnow.com.au/sport/te...ion-fortune-gone/story-e6frg273-1226264239506
     
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  2. bluetrain4

    bluetrain4 Legend

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    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?
     
    Last edited: Feb 6, 2012
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  3. treblings

    treblings Hall of Fame

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    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:)
     
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  4. Agassi-Fan

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    That really sux for her. Seems like it is more common for tax authorities to be cracking down these days.
     
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  5. boredone3456

    boredone3456 Hall of Fame

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    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.
     
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  6. Benhur

    Benhur Hall of Fame

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    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.
     
    Last edited: Feb 6, 2012
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  7. bluetrain4

    bluetrain4 Legend

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    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.
     
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  8. Mustard

    Mustard Talk Tennis Guru

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    I'm surprised. The Sanchez family seemed very close when Aranxta, Emilio and Javier were all playing.
     
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  9. Benhur

    Benhur Hall of Fame

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    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.
     
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  10. Mustard

    Mustard Talk Tennis Guru

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    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.
     
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  11. kiki

    kiki Banned

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    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...
     
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  12. forthegame

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    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!
     
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  13. kiki

    kiki Banned

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    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...
     
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  14. Mustard

    Mustard Talk Tennis Guru

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    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.
     
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  15. kiki

    kiki Banned

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    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.
     
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  16. kiki

    kiki Banned

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    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.
     
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  17. Mustard

    Mustard Talk Tennis Guru

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    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?
     
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  18. kiki

    kiki Banned

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    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.
     
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  19. Mustard

    Mustard Talk Tennis Guru

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    What about Guillermo Vilas and Manuel Orantes?
     
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  20. BTURNER

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    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.
     
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  21. kiki

    kiki Banned

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    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.
     
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  22. kiki

    kiki Banned

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    ...and Ilie Nastase was Bucharest major Candidate for the NF.
     
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  23. Benhur

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    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.
     
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  24. Chopin

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    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.
     
    Last edited: Feb 6, 2012
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  25. hoodjem

    hoodjem G.O.A.T.

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    Easier to pay taxes illegally.
     
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  26. chmee

    chmee Rookie

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    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:(
     
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  27. kiki

    kiki Banned

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

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

    pabletion Professional

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    Arantxa's mother responds!!!

    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.
     
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  29. Sentinel

    Sentinel Talk Tennis Guru

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    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.
     
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  30. bluetrain4

    bluetrain4 Legend

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    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.
     
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  31. Tammo

    Tammo Banned

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    Wow, the prize money and contracts were much less then.
     
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  32. Chopin

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    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?
     
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  33. kiki

    kiki Banned

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    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¡¡¡
     
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  34. Chopin

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

    That one is for you, Joe.
     
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  35. chmee

    chmee Rookie

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    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:(
     
    Last edited: Feb 7, 2012
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  36. jrepac

    jrepac Professional

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    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.
     
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  37. Bartelby

    Bartelby G.O.A.T.

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    A masterpiece of evasion that only supports their daughter's case against them.




     
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  38. MAXXply

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    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.
     
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  39. treblings

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    :) 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.
     
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  40. treblings

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    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.
     
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  41. kiki

    kiki Banned

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    TT needs him back on the boards¡¡¡
     
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  42. Nuke

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    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.
     
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  43. kiki

    kiki Banned

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    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.
     
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  44. Spin Doctor

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    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.
     
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  45. Benhur

    Benhur Hall of Fame

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    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
     
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  46. Moose Malloy

    Moose Malloy Legend

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    http://tennis.com/articles/templates/news.aspx?articleid=16928&zoneid=25
     
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  47. robow7

    robow7 Professional

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    If she's smart, it won't be invested in the banks of Spain, that's for sure.
     
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