Bubba in deep doo-doo

[Kryptonite]

It's all over Tampa news. I get some alerts about it on my phone. The bank has foreclosed (or will) on Bubba Raceway Park, he's selling/sold his house, he's in a new lawsuit against Cox and a ton of their employees, including Spice Boy...

Things are dire for the guy who once had Planet Bubba, a bunch of other places with his name on it and was king of Tampa.

 

[scotchandcigar]

Do you know the source of his financial demise? Unless it's legal costs for the forthcoming lawsuits.

 

[Kryptonite]

Do you know the source of his financial demise? Unless it's legal costs for the forthcoming lawsuits.

Between the sex tape and the ratings scandal, I think the broadcast companies and affiliates don't want him. He's definitely lost several affiliates. I think Cox (and others?) plan to sue him into oblivion. Without the income, but with the lawsuits, the huge house and the track, he can't afford to pay for it all.

He's definitely shot himself in the foot, but he regrets it...but is it too late? Stay tuned...

 

[JHDK]

As long as he can keep the BRN he will soldier on.

His compound is really something, even more impressive than Howard's Sirius offices.

 

[Kryptonite]

As long as he can keep the BRN he will soldier on.

His compound is really something, even more impressive than Howard's Sirius offices.

Indeed.

Did he end up selling the original? A few months ago, one of his guys made a comment about how they could get some computer parts from there and how they never use that studio. At one time, it was where they did their Daily Debriefing and the spin-off shows, but I think all the spin-off shows are now from the main studio.

 

[chewypgh]

He already sold his house. He is living in a 1 bedroom apartment. The bank is trying to foreclose on both the racetrack and his current studio. He defaulted on the ractrack loan and currently owes $94,000. He also defaulted on the loan for his current studio and owes over $77,000 on that one.

Bubba said that he defaulted on those loans before the sale of his house was final. He sold the house for more than he still owed on the home loan and he tried to apply the proceeds toward his defaulted loans to make them current, but the bank refused to accept it. I don't remember the reason why.

 

[IndustrialH]

Ripped from Inside Radio 17th May 2019

Radio talker Bubba “The Love Sponge” Clem continues to face faltering fortunes, with news that his Tampa broadcast studio and network, as well as a racetrack he owns in Ocala, FL are under foreclosure proceedings. According to lawsuits reported by the Tampa Bay Times, Clem owes more than $170,000.

In addition, on Friday, he announced that he is now off the air altogether, losing his only remaining radio outlet, Genesis Communications’ “Sports Talk 1040” WHBO-AM 1040 Tampa. On Facebook, Clem posted—in rather odd verbiage—“Myself and am1040 couldn’t come up with a deal today, starting tomorrow Tampa area listeners please listen via BubbaArmy.com or twitch.tv/TheBubbaArmy.”


In a suit filed April 16 in Marion County, Valley National Bank says that Clem and his Bubba Raceway Park, LLC, owe a total of $94,373, the Times reports. That includes $3,000 to cover property taxes that were not paid for 2017 and 2018.

And in a separate suit filed the same day in Hillsborough County, Valley is foreclosing on a studio near Tampa International Airport owned by Clem, BRN Studios, LLC and the Bubba Radio Network. That action stems from a $77,510 judgment filed against Clem last year for defaulting on a line of credit.


The radio personality did not respond to a request for comment from the newspaper, which explains in the story, “Once among the nation's best-known shock jocks, Clem has indicated he is in financial straits. Earlier this year, he sued a former employer, Cox Media Group, claiming it had tried to destroy him professionally and personally after he left one of its stations to join a rival. The alleged actions by Cox and two of its employees damaged Clem's reputation and caused him to sustain ‘losses in the tens of millions,' the suit said.”

Clem's studio is on West Nassau Road in Tampa's Westshore area, the Times reports. His Bubba Raceway Park in Ocala is a three-eighths of a mile car racing track that opened in 1952, making it the longest continuously operating track in Florida, its website says. It also has been known as the Ocala Speedway, Zuber Speedway, Marion Speedway and Lightning Speedway.

 

[chewypgh]

Wow, that caught me by surprise. I'm still catching up on this week's shows, but I haven't heard him mention that he might get dropped from AM1040. I guess that leaves Charleston, SC and Peterborough, ON as his only terrestrial markets.

 

[Kryptonite]

He sold the house for more than he still owed on the home loan and he tried to apply the proceeds toward his defaulted loans to make them current, but the bank refused to accept it. I don't remember the reason why.

Oof. Bank plays hardball.

 

[JHDK]

Oh boy, his studio is on the chopping block too? Rough times indeed.

 

[Kryptonite]

Oh boy, his studio is on the chopping block too? Rough times indeed.

If he hasn't sold the old studio yet, I'd be surprised.

 

[chewypgh]

Bubba is selling the building his current studio is in and he will rent it from the new owner.

 

[Kryptonite]

Bubba is selling the building his current studio is in and he will rent it from the new owner.

That's crazy, but if it gets him out of paying the bills...

 

[chewypgh]

He also said that he lied about about living in a 1 bedroom apartment. He was really living in a small camper behind the studio. He found a house and he is now trying to get some of the employees and interns to help him move.