By Carlos E. Medina
Former Duke basketball star Bobby Hurley’s Devil Eleven Farm in Ocala, Fla., has been slated for public sale after he and his wife, Leslie, agreed not to challenge foreclosure proceedings seeking to recover more than $3.3 million in defaulted loans and fees owed to PNC Bank, according to documents filed in Marion County Circuit Court.
The property will be put up for public sale on Oct. 5, according to the joint stipulation for final judgment of foreclosure filed with the court.
PNC Bank began foreclosure proceedings on April 20.
The suit names the Hurleys, the farm in Ocala and Devil Eleven Stables LLC, based in New Jersey. The 140-acre Thoroughbred farm was listed as collateral for a $2,531,165 mortgage as well as a $1 million line of credit, of which $552,179 was used. Including interest, attorneys’ and late fees, the total amount of the judgment was $3,306,214.
The original foreclosure documents stated the Hurleys had not made a payment on the multi-million dollar loan since May 5, 2009 and had not made a payment on the line of credit since April 30, 2009. PNC modified the mortgage in January, but did not receive any subsequent payments.
Neither Hurley nor his attorney, Brian Rich of Tallahassee, could be immediately contacted.
If the farm is sold for less than what is owned, the judgment leaves the door open for PNC to try to recover any deficiency.
Hurley, who named his stable and farm after the jersey number he wore during his stint at Duke, entered the Thoroughbred industry with a bang. One of his first was Songandaprayer, the 2001 Fountain of Youth Stakes (gr. I) winner who ran 13th in that year’s 2001 Kentucky Derby (gr. I).
Songandaprayer entered stud in 2002 and has been a popular sire. He currently stands for a $12,500 stud fee at Walmac Farm in Lexington. In December, PNC filed suit against the Hurley’s and Devil Eleven in Kentucky’s Fayette County Circuit Court seeking to take possession of Hurley’s 12 shares in stallion Songandaprayer for non-payment on a note worth more than $900,000.
Hurley, who also played in the NBA, was the seventh overall pick in the 1993 NBA draft. He was involved in a serious car accident in his rookie season, but made a comeback despite his injuries and played another five years in the league before retiring.