TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

Someone's Pimping Britney's Ride

3/19/2008 8:37 PM PDT BY TMZ STAFF

TMZ has obtained documents in the Britney Spears conservatorship case, and what's clear is that Brit has too many wheels spinning.

The commissioner signed an order giving the co-conservators the power to sell some of Brit's cars. And get this, the Britster owns seven -- count them -- seven cars.

According to the documents, the cost of maintaining the vehicles is steep, what with insurance, maintenance and storage costs. The conservators say selling some of the rides "will save substantial expenses to the conservatorship estate."

The company that will sell the cars is going to make a sweet 5% commission.

111 COMMENTS

No Avatar
46.

Stop Blaming the Paps For Everything Brit Does    

DIANE T .... I don't visit x-17, but that must be the only site that has some information on the "reasoning" behind Lutfi's objection to the case assignment to Commissioner Goetz. I wonder if he thinks that requesting that the matter be heard by a judge will result in the entire conservatorship case being transferred. If so, that's not going to happen. All that will be transferred to a judge is the restraining order aspect of the case.

2406 days ago
47.

Stop Blaming the Paps For Everything Brit Does    

To ParisNauseatesMe: Thanks. I appreciate the support. Trying to explain the rationale for the events that have occurred sometime makes me feel like Sisyphus pushing that boulder up a mountain.

While Britney did not have the benefit of sound financial management in recent years, there is reason to be optimistic for the next several. According to OK! (which claims to have an exclusive), a source "close to" Britney and the Spears said that a financial management team has been put in place, and that it is expected that the team will remain her advisors for several years. If that is true, let's hope that when Britney resumes control over her assets, she sees the value of the management team and retains them. Yeah, I agree with you it is unfortunate that she didn't have good advisors over the past several years. You would think that is what Howard Grossman was supposed to be doing, but apparently not. That's probably one reason the conservators immediately sought consent to can him (the other reason being that Grossman seems to have accommodated Lutfi's requests for funds, in contravention of Grossman's fiduciary duty to look out for Britney's best interests).

Keep up the great posts. I enjoy reading what you have to say.

2406 days ago
48.

Me, myself and I    


kandee,

I realize that you don't "get" that mommy and daddy put all their energies and monies into Britney's career before she made it into the big time. Britney wouldn't be where she is, without all the help from her parents, and the professional people who truly made her career into what it is today.

There is something seriously wrong with Britney's thinking. I hope that her cameo on "How I met your mother", does some good for her career. I don't know why she doesn't seem able to relate to her children. Life is complicated and messy. Right now, I don't believe that she should ever have anything more than monitored visitation with her sons.

2406 days ago
49.

ParisNauseatesMe    

Thanks, Lawdawg, for taking the time to explain things completely, logically. It's not easy, I know. The younger readers of this thread will more than likely resist the "leash" effect that a conservatorship places on its conservatees. Only an educated person or one with years of wisdom will appreciate such an arrangement. It's obvious that Spears is in no position to be trusted with money or its disposition. How fortunate she is to have the court looking out for her best interests.

2406 days ago
50.

Mary Jane    

The old drunk is selling her cars, yet it was only last week or so he asked the court permission to buy himself a ride. WTF?

2406 days ago
51.

just me    

So Britney has seven cars, so what? Some wealthy people have dozens of cars. If the expense of maintaining unused material assets is a concern, then why not lease out or sell Britney's Kentwood estate and mansion in which her mother and sister reside? Britney has not occupied the Serenity Estate since the spring of 2003 and Britney has not even visited Kentwood since 2006, when after filing for divorce from K-Fed she visited her mother for 2 days in November. I expect that the annual property taxes, insurance, maintenance of the mansion, and upkeep of the fenced 3.5 acre grounds is costing Britney hundreds of thousands of dollars a year. Ma & Pa Spears' old house has been vacant since Pa Spears moved to Los Angeles almost 4 years ago and if Pa Spears is truly trying to trim Brit's expenses, then I think it's time for him to tell Ma Spears to unass Britney's Serenity Estate and move back into the old house. He should put the Kentwood mansion up for lease to a cash paying tenant who can afford the upkeep. The expense Britney incurs maintaining unused cars is pocket change compared to the megabucks she spends on the squatter mansion Ma Spears occupies.

2406 days ago
52.

jh    

In that order there wasn't a single mention of what Britney Spears wants. They are bleeding Britney dry ($58,000 went to the lawyer who is supposedly representing her interests). They are selling her assets even against her wishes.
Since Jay Leno is losing his job at the tonight show in 2009, when is the courts going to step in and sell all of his cars? Britney Spears is still making a lot of money.

2406 days ago
53.

whoops    

No telling what her real finances are like, after Lufti and the other assorted leeches in her life have drained her. This is probably the best for now, trim all the fat and start teaching her a little humility. Part of her problem is she was worked constantly and never was a real kid. Therefore she went hog wild when she got legal and has never grown up at all. She has no idea how to do it. She was not taught. She is like a marionette. Plus there is real mental illness here. I wish her the best, she is clearly unable to take care of herself.

2406 days ago
54.

Frank Olivo    

Thanks lawdawg....simplify and reduction is the best for her now. To all you youngun's...take a look a Michael Jackson, Gary Coleman, or any other person who has had millions and has either spent more than they had or in Gary's case, most unfortunately had it stolen by his parents on top of dealing with a life threatening illness. Just reading some of these posts scares me in that so many of the posters talk in terms of letting BS spend, spend, spend...as if they don't realize the true value of what a parent must do in order to bring some semblence of normal back to their child's life. I hope it's just young and dumb talking and not a representation of our bling-bling youth talking.

What more can I say but words....life will out...

2406 days ago
55.

ray elarmo    

WHAT THE HELL IS GOING ON HERE. WHO DIED AND MADE BRITNEYS PARENTS GOD. COULD YOU IMAGINE SOMEONE TELLING ELVIS TO SELL A FEW OF HIS CADILLACS. BY THE SAME TOKEN, I HAVE TO SAY THAT IT WAS A RELIF TO SEE BRITNEYS PARENTS FINALLY RESCUE HER FROM ALL THOSE GOLD DIGGERS HANGING AROUND HER. I DON'T THINK THE PARENTS ARE GOLD DIGGERS. BUT PLEASE CUT BRITNEY SOME SLACK. LET HER KEEP HER CARS. BRITNEY IF YOU READ THIS. ITS GREAT TO SEE YOU BACK. MONTEREY RAY

2406 days ago
56.

The Flying Doucheman    

It's going to be a great harvest Mr. Levin...

2406 days ago
57.

ParisNauseatesMe    

The subject of whether Spears should be allowed to buy what she wants because she has earned it has come up quite frequently.

I’d like to discuss compulsive spending by the bipolar or the narcissistic personality. At the outset, let me say that I believe that Spears is more likely narcissistic. Nonetheless, the two disorders have many common links that confound a diagnosis by even the most expert professionals.

Compulsive shopping, gambling, and unsafe sex are some of the symptoms often displayed by the narcissist or during the manic phase of bipolar disorder.

Kids generally learn, through appropriate parenting, how to control impulses at an early age: this teaches them “resilience.” Those children who were deprived of parents with good parenting skills are frequently deficient in many areas, among them, the ability to control impulses. As such, as adults they often exercise poor choices and compulsive spending habits.

Simply stated, consistent compulsive spending [whether you have the funds or not] is the individual’s self-reward, the thing that makes him feel good. That’s the payoff. It doesn’t matter whether he needs the item - what matters is that he wants it now and will get it now and give his fallen ego a boost.

Spears is a prime example of someone who requires instant gratification. And because she does [currently, at least] have the money, someone needs to hold the purse strings, lest it dwindle to nothing. And it can - very fast.

This begs the question: What, if anything, is being done to counsel her?

2406 days ago
58.

Quiet    

she deserves a 2001 dodge neon if that.

2406 days ago
59.

Dee    

Thanks Nor Cal Reader, it's "brava."

I get what Lawdawg is saying, but that his analysis is flawed. I have a problem with Britney's personal property being sold, at tremendous expense for legal fees and expert costs - just to get court permission to sell them, to save on registration, insurance and storage. These are not the assets deserving of this type of expense, and will put cash in someone's pockets for the sale - and not hers - likely her dad's and the broker he will use for the sale.

Britney did not buy jewelry or fine clothes with the money she earned - she chose to buy those cars. I wonder if this is the symbol to her of her personal success, and think its really mean that the only cool toys she has are getting sold off when she has nothing to say about it - at a time when their retention will not cause any major expense, I know my mom was emotionally attached to a certain car, and cried when it finally broke down for good. Britney bought them and they are hers. What effect is this going to have on her? Maybe she does not want a new car in 6 months - maybe she wants these - maybe not. Who knows? That's the problem. What effect is it going to have on her when she sees the things that made up her daily life sold off, while she is powerless to do anything - and her mental capacity is in question. It might harm her more than the penny's saved will help her. Talk about 'penny wise, pound foolish".

Like you said, her estate needs attention because it decreased from $100 million to $50 million, and you say she lost $20million all on her own. These 7 cars are not the cause. I see your point about the need to get rid of unproductive assets and protect cash flow -- for business assets. Her business is music. Why aren't these co-conservators doing anything about her business interests. What about improving her investment portfolio - or some other slick way of reinvesting her cash flow - like you suggested. Her cars, and her stuff -- are rightfully hers. She still has millions (plural) to pay the comparatively nominal expenses for these cars, and should be allowed to keep her stuff until she has no more cash to live on and support her kids. That is several years away - if it ever happens.

There will never be a time she cannot make ANY money. I actually think she would be terrific in a regular sitcom - because everyone wants to see her. If she can act at all, she'll be fine - even if she loses her singing career - which is unlikely.

You know, I recall trying several cases before Commissioner Reva Goetz, years ago when she was first appointed to the bench in the family law department. She knew about corporate litigation - and frankly was a "loose cannon" on the child custody and dissolution of marriage issues - just doing what she wanted based on her apparent perceptions of the parties, and not following the law. I worry that this conservatorship is not being properly watched over - and any reasonable sounding request - like selling off her cars - with no specifications in the orders about how the sale should be done to maximize the benefit to her - or protecting her against profits going to people who are not allowed to get any profits off of her - like her dad, for instance. This article has the ex parte application for the sale of the cars attached - and when you read it, it says nothing at all about the terms, who profits, or why the woman's stuff has to be sold now. It's still a free country. I think a real judge should hear this case, because its pretty twisted - and the court should not just go along with the lawyers and the conservators "because they're cool guys." They are cleverly profiting, and no one is really watching them.

2406 days ago
60.

Eliana    

Did you see the clip of Britney on How I Met Your Mother? Check it: http://www.236.com/news/2008/03/18/from_the_feed_britney_spears_o_5245.php

2406 days ago
Previous 15 Comments | 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

Around The Web