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Sergei Fedorov facing foreclosure on two Detroit homes

According to an AP report, former Detroit Red Wings great Sergei Fedorov is facing foreclosure on two homes in the Detroit area.

The PrivateBank and Trust Co. says Fedorov owes more than US$2 million. The Oakland County Treasurer’s Office says he also owes more than $51,000 in property taxes.

The Detroit News reports Friday that Fedorov owes nearly $1.2 million on a 390-square-metre home that he bought in 1999 for $1.25 million.

Unless Fedorov is having incredible financial issues outside of hockey, it’s unlikely this is a case of him just not being able to pay his bills. He recently signed a one-year contract with Washington for $4 million in 2008, and was just paid $9.2 million this past season as part of a two-year contract with Magnitogorsk of the KHL.

However, there is the lawsuit that Fedorov filed against Joseph Zada last summer relating to $43 million in investments Fedorov had made.