Posted Jun 11, 2013 04:28 pm CDT
Litigation between basketball star Kobe Bryant and an auction house that reportedly gave his parents a $450,000 upfront payment to auction sports memorabilia from his youth has been settled.
His parents, Joe and Pamela Bryant, have apologized and will be allowed to sell a small fraction of the items that Goldin Auctions had originally planned to put on the block, according to ESPN Los Angeles.
However, what will now be sold includes some of the most valuable pieces in the collection. Hence, company president Ken Goldin told ESPN he is confident that items–including two high school uniforms and a 2000 NBA All-Star ring, as well as two rings celebrating the 2000 Los Angeles Lakers championship team–will bring in $500,000 or more.
“We regret our actions and statements related to the Kobe Bryant auction memorabilia,” the senior Bryants told the network in a written statement from a publicist. “We apologize for any misunderstanding and unintended pain we have caused our son and appreciate the financial support he has provided over the years. We also apologize to Goldin Auctions for their inadvertent involvement in this matter and thank them for their assistance.”
Bryant’s parents reportedly plan to use the money they raised to buy a house in Las Vegas.
ABAJournal.com: “Did Kobe Bryant’s mom get OK to auction items left in his boyhood bedroom? Federal judge grants TRO”
ABAJournal.com: “Kobe Bryant battles mom for ownership of sports memorabilia from his youth in 2 federal courts”