STOCKHOLM — Retired Swedish tennis star Bjorn Borg lost his waterfront villa near Stockholm today when it was sold at a police auction to pay his debts.
The ornate villa sold for $1.89 million to Swedish hotelier Lars Nilsson, who will use it as a summer home.
"A very good buy. I was willing to pay up to $2.49 million," Nilsson said after the sale.
The money will be used to pay a debt of $1.33 million that Borg, a five-time Wimbledon champion, owes on behalf of a former business partner, and part of a $2.49-million bank debt.
The government is also expected to seek about $532,500 in taxes from Borg on the proceeds from the compulsory sale.