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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

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61.

it takes a molester    

To: ParisNauseatesMe...you've left everyone speechless...best post of the day. Congrats!

2374 days ago
62.

it takes a molester    

To: ParisNauseatesMe... I neglected to mention your post # 55 made at 1:38 AM in my earlier post, again a great post!

2374 days ago
63.

ParisNauseatesMe    

Thanks, "My Opinion." Sometimes things are just so plain to see when you remove the smokescreen.

2374 days ago
64.

ParisNauseatesMe    


Re comments Posted at 2:25AM on Mar 20th 2008 by Dee:

“...she chose to buy those cars. I wonder if this is the symbol to her of her personal success....... 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.”
~ I firmly believe hers is not an emotional connection to the cars at all. Either she acquired the vehicles while she was drugged/intoxicated or [most likely] she acquired them just to show she could [and therefore boost her ego.]

“There will never be a time she cannot make ANY money.”
~ I don’t know this to be true. Without proper psychiatric and psychological intervention she will more than likely regress. She’s not in high demand - who is willing to take the risk, short of a sitcom out to get tons of publicity through her appearance on their show. Whether her appearance generates increased revenues for the sponsors is another story - I think not. I don’t believe she has the talent, fortitude, or self-discipline to develop a television career. [I’m being objective.] And even if she has lifetime residuals coming in, given her compulsive habits and addiction to litigation, I tend to doubt she will be able to afford it over the long haul.

“....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.”
~ And how exactly are they profiting? I am inclined to believe that the co-conservators, one of whom has an upstanding professional reputation to protect, have no intention of profiting. Further, it seems to me that their mission is to control loss......not to act as financial planners.

2374 days ago
65.

just me    

I don't get it. It wasn't too long ago when someone reported that she is worth $40 million dollars and her divorce lawyers said she has more than $700,000 dollars in monthly income and has about $200,000 in monthly expenses. That still leaves Britney with a whooping half a million dollars a month of her income that she was not spending. What I don't understand is why are they selling her stuff when she has half a million dollars a month in surplus income. Actually a lot more than that now because her dad seems to have drastically limited her entertainment spending, which was about half of that approximate $200,000 monthly expenses. Something just seems odd that they are selling her stuff when she has at least half a million dollars a month in surplus income.

I was in probate court with my brother when he was appointed conservator for dad when dad was in therapy recovering from a bad stroke and the judge gave my brother a long lecture about how it is his responsibility to preserve dad's existing state of affairs and deliver that back to him intact when he recovers, which he did 11 months later. Fortunately dad's healthcare plan paid for his nursing care, therapy, and medical bills and his railroad pension went into a trust that was set up to pay everything else, most of which was legal expenses. So dad got his complete existing state of affairs he had before his stroke back again intact with nothing changed, sold or borrowed. And as much as my brother has pestered dad the two years before his stroke to borrow his new Winnebago motorhome he never once took it out. That was a shocker because with dad in the hospital for five weeks and then more than three months in an outpatient rehabilitation nursing care center before coming home after his stroke, with my brother total control of dad's things, was like turning a child loose unsupervised in a toy store and expecting the child not to play with the toys.

Anyway, with all that said, my point is that if Britney has enough cash resources to cover her expenses while she is disabled, then why are these people being allowed to change the existing state of affairs she had before the court ruled that she is disabled and needs a conservator. Remembering the long lecture my brother got from the judge about his responsibility to preserve dad's existing state of affairs until he recovers made me think that is the primary duty of a conservator. There just seems something odd about this judge letting Britney's father roll back the clock to a time when she was not legally incompetent and decide what she should be allowed to keep of things she bought before she was disabled by her illness.

I would bet she bought some of those cars while she was giving a lot of people gifts and cash, including her dad. I wonder what he would say about giving back to her the money she forked out for that restaurant he bought a few years ago? I think he sure as heck should not be taking any cars away from Britney that she bought around about or before that time and if he does then he should give back the cash she gave him to buy that restaurant.

Sorry I wrote such a long comment but I really needed to say these things even if no one here reads it.

2374 days ago
66.

me    

Perhaps Brit wants to sell her cars but because of the conservatorship Dad has to ask the court... WE DON'T KNOW WHATS GOING ON PEOPLE!!!!! STOP HATING!!!

2373 days ago
67.

just me    

I think a lot of folks here are giving Britney too much credit for squandering her fortune and not giving K-Fed enough credit. Seems a lot of folks here are either poorly informed or have a very short memory. Britney's net worth now is about the same as what it was in November 2006 when she filed for divorce from K-Fed. Estimates of Britney's net worth before she married K-Fed ranged from $100 million to $123 million. But if TMZ is to be believed, Britney's net worth when she filed for divorce was between $35 million and $50 million. So an astonishing amount very near two-thirds of her fortune was spent during the 2 years she was married to K-Fed; they married in October 2004 and Britney filed for divorce in November 2006. Her net worth has been essentially stable since filing for divorce, recently reported to be $40 million dollars, that being reported to the conservatorship court by attorney Adam Streisand at the February 4th hearing. So it would seem to me then that the squandering of Britney's fortune has a very large K-Fed factor and that her net worth has been essentially stable since the K-Fed-factor got the boot.

The following is what TMZ reported about a week after Britney filed for divorce:

The Cost Of Britney's Marriage? Not Priceless
Posted Nov 12th 2006 11:10AM by TMZ Staff

Could K-Fed have blown through $50 million dollars of Brit's fortune in just two years? At the time of her marriage to FedEx, Britney was estimated to be worth $100 million, but according to recent reports her net worth has fallen to between $35-$50 million, so you do the math.

So what'd you spend it on, Kev? It's obvious that he didn't spend the money on clothes. In a skit on last night's Saturday Night Live, Britney went to her divorce lawyer to complain about how FedEx squandered her money by filling their dining room with baby tigers and renting an amusement park for his friends to chill at. She also suggests in the skit that K-Fed was unfaithful: "Brit" says that K-Fed was doing choreography with Alyssa Milano and a week later, "Guess who's got panty crickets? Me."

Luckily for Brit, the party stops here with an airtight prenup. "Everyone thinks that Britney is this hick from Louisiana but, in reality, she is an extraordinarily astute businesswoman who has built herself into a global brand," a source tells the New York Post. Too bad the pop princess wasn't as astute when she picked her husband.

2373 days ago
68.

Anne    

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.

Jay Leno doesn't repeatedly expose his genitalia to the press,either.
Spears 'is still making a lot of money-off what,exactly? She received large 'front-end' royalties for use of her name on the perfumes,which are mainly purchased by teen mall rats.I'd highly doubt,in this era of music labels going belly-up,that any label would advance her millions for an album. Few if any corporations would utilize her as an endorser now.
She has minimal songwriting credits as far as royalties,and those credits are shared among othera. As 'Crossroads' so dismally proved,she has zilch aptitude for acting;a 3-line cameo spoken sitting down in a floundering sit-com isn't exactly Oscar-material.

2373 days ago
69.

Lucy    

no wonder she can't drive with 7 cars, she never has time to get used to handling one of them!!

2373 days ago
70.

jason    

WTF, why can't she have 7 cars? She is NOT GOING BROKE, she has tens of millions. Hell, adam carolla has 12 cars and hes not worth 1/10 of her.. let he live a little! shes young and soooooo rich, let her buy stuff, wtf

2373 days ago
71.

it takes a molester    

Everybody read lawdawg's comment # 35 made at 11:03 PM. Makes perfect, intelligent sense! Aw c'mon you guys read it. It will be worth your time.

2373 days ago
72.

player hater; game hater    

Wrong, 'fan of Brittany' she can't have as many cars as she wants. Wrongo. So sad too bad, boo hoo.

2373 days ago
73.

rancelot    

Obviously the idiots who decided that 7 cars is a no-no, have never been famous or hounded by paps and fans day and night. The purpose of a fleet of cars is to obscure one's identity and enjoy some freedom and anonymity. With throngs of lookie-loos blocking the gates of the estate, one has to devise certain measures to preserve one's sanity. Right, Brit?

2373 days ago
74.

Baseball Junkie    

lawdawg,
Thanks for your very clear explanation of the law about Britney's estate.
What a lot of people also don't seem to understand is insurance law. In most states your premiums go up a lot if you have more cars than licensed drivers because they assume that you may let unlicensed drivers use the cars.
Britney's insurance would also have gone up after her various accidents and not every state takes into account whose fault it was.
Thirdly, a lot of Jay Leno's cars are registered as antiques and the laws governing antique cars are very different from the laws concerning recent models.
A 5% commission is actually rather low and while Craig's list is free, it takes time to keep track of your listings and time is money. Somebody would have to deal with the cars anyway and would need to get paid one way or another.
A long term lease is actually a very sensible way to get a car if you're the sort of person who trades in each year to get the new model. I would assume this is what Brit's father did.
The house in Kentwood is real estate. The real estate market is very depressed lately and it makes much more sense to hold on to it in hopes that the market will go back up than to sell it. Real estate is always a good investment unless you made the mistake of buying a moneypit. That's why you should hire a good house inspector before you buy.
It sounds like Jaime is making good business decisions to me.

Go Sox

2373 days ago
75.

.....    

I agree with the poster who said that brit will be back to her disgustung, spoiled , self-absorbed, drugged up ways ASAP after the conservatorship is over. So they're selling a few of her cars, so what. She'll be able to replace them soon enough. And as far as her be "mentally ill", well i feel sorry for the posters who actually believe that. IT IS AN ACT. That's all. Get it through your heads. Actually, if you seriously believe brit is mentally ill I'd love to meet you. I've got some ocean front property in Arizona i'm looking to sell.

2373 days ago
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