A 70-foot Italian-made yacht, owned by former National Basketball Association star Latrell Sprewell, has been sold for $856,000 at a public auction after the Milwaukee native defaulted on a $1.5 million mortgage.

The yacht, M/Y Milwaukee’s Best, was seized by the U.S. Marshals Service Aug. 21, from Boatworx Inc., of Manitowoc, which had been holding the vessel.

Posted: 02|11|08 at 10:59 am. Filed under: US News.