Warren Sapp files for bankruptcy, claims he lost Super Bowl ring

Warren Sapp, a future Hall of Famer and current NFL Network analyst, has filed for Chapter 7 Bankruptcy in Florida on claims he racked up millions in debt to several creditors.

Most surprising about Sapp’s filing is that he notes he lost his 2002 Super Bowl ring from a championship with the Tampa Bay Buccaneers and the 1991 National Championship ring he won as a collegiate with the Miami Hurricanes, according to a TMZ.com report.

In the court documents, Sapp says he has $6.45 million in assets — including items such as 240 pairs of Jordan sneakers and sandals, a lion skin rug, and a boxing glove signed by Muhammad Ali.

Sapp says ... he's pretty sure he lost the Super Bowl ring while traveling a few years ago ... because the last time he saw it was right before a trip.

Sapp says he never really wore the ring ... so he's not bothered by the loss.

Ditto for the college ring ... Sapp tells us, "Have you ever seen the Miami Hurricanes championship ring? It was 10 carats of cubic zirconia and yellow gold. it might be worth 300 bucks."

Sapp owes more than $6.7 million in debt to creditors and back child support and alimony. The outstanding amount outweighs Sapp’s 6.45 million in assets, which will be liquidated as a result of his filing for Chapter 7.

Sapp's average monthly income is $115,881, according to the filings, and includes $45,000 for a final contract payment with Showtime; $48,000 for an appearance with CCA Sports; and $18,675 as an advance for a book deal. His contract with the network expires in August 2012. Over a 12-year NFL career, Sapp made well over $40 million with the Tampa Bay Buccaneers and Oakland Raiders.

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