Sergei Fedorov might be heading back to Russia to avoid some bills. It seems that the Russian Superstar is not the greatest at balancing his checkbook. The Citizens State Bank is claiming that he owes $2.1 million dollars from 2004 and 2005 based on interest and principal.

The two loans were for $1.75 million and $500,000 dollars. The Michigan bank felt the need to go after Mr. Fedorov after payments recently stopped. I have read mixed reports regarding him offering a Miami condominium and an 11-year-old horse as collateral. It is also listed that he refused to give those possessions over as collateral.

He was to make 59 monthly payments of $15,000 and $4,452 for the larger and small loan respectively. There was to be a final payment on each loan of $1.34 million and $390,000. The loan is supposed to be paid off in 2009 and 2010. Why did Fedorov have to take out so much money in loans?

What happened to all his money? What was he buying? Good thing Sergei signed his new one-year deal with the Capitals for $4 million. Too bad half that paycheck will be finding its way to a different pocket. It’s somewhat funny how this happened immediately after he signed his new contract.

Either way, he will probably be playing hockey for a few more seasons.

http://www.macombdaily.com/stories/071508/loc_local02.shtml http://canadianpress.google.com/article/ALeqM5hZ6dHBrZYfVHIWKaedesYXC2_AKQ

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