Tim Duncan’s divorce settlement with Amy Sherrill was finalized on August 20, 2013, at a private off-site hearing, and the financial terms were sealed from public view. Public reporting has placed the figure near $100 million, but neither Duncan nor Sherrill has ever confirmed a number, and the official documents remain closed.1Legit.ng. Amy Sherrill’s Biography and Truth About Tim Duncan’s Wife
The 2013 Filing
Amy Sherrill filed for divorce in Bexar County, Texas, on March 27, 2013, after twelve years of marriage. Her petition described the marriage as “insupportable because of discord and conflict.”2Deadspin. Tim Duncan Is in the Middle of a Remarkably Messy Divorce The couple had married in July 2001 and had two children, Sydney and Draven.1Legit.ng. Amy Sherrill’s Biography and Truth About Tim Duncan’s Wife
Beneath the boilerplate language, both sides traded infidelity accusations. Amy alleged Tim had cheated with multiple people.1Legit.ng. Amy Sherrill’s Biography and Truth About Tim Duncan’s Wife Tim accused Amy of an affair with her personal trainer, Gilbert R. Urbano Jr., and reportedly hired a private investigator. His legal team sought a court order barring Urbano from the children and filed a subpoena for his appearance.3MySanAntonio. Secret Hearing Marks End of Duncan’s Union Urbano told the San Antonio Express-News he was “unfamiliar” with the reasons for his inclusion and said he had never been served. “I guess I’ll find out about it from the courts and not the newspaper,” he said.4International Business Times. Tim Duncan Divorce Finalized: Was Wife Amy Duncan Cheating With Personal Trainer Gilbert Urbano
The Prenup and the Community Property Question
Texas is a community property state, so marital assets are generally divided evenly. Duncan’s estimated net worth at the time of filing was around $75 million, with career NBA earnings that would ultimately exceed $242 million.5Fox Business. Tim Duncan Retires as NBA’s 4th Highest-Paid Player
In a counter-petition filed in May 2013, Duncan asked the court to “honor the couple’s prenuptial agreement” and to confirm that he owned “property that is separate from the marital estate.” That strategy rested on using the prenup to keep a substantial share of his earnings outside the community property split. He also asked for 30 days after the Spurs’ final playoff game to respond to discovery, citing the “extraordinary demands” of his job during a run that reached the 2013 NBA Finals.2Deadspin. Tim Duncan Is in the Middle of a Remarkably Messy Divorce
The Secret Hearing
The divorce was not finalized at the Bexar County Courthouse. State District Judge David A. Canales conducted the hearing at the offices of Duncan’s attorney, Sue Hall, during the judge’s lunch hour on August 20, 2013. It never appeared on any public docket.3MySanAntonio. Secret Hearing Marks End of Duncan’s Union6CBS Sports. Report: Tim Duncan Granted Divorce at Secret Hearing
Judge Canales said the arrangement was about privacy, not favoritism. “These folks were involved in a very private matter. It was mainly for privacy,” he said, citing what he called the “paparazzi factor” if the couple appeared at the courthouse.7SLAM Online. Tim Duncan Divorced in Secret Hearing He added that an on-the-record off-site hearing is not unheard of when both sides have reached agreement, and in those cases no public notice is required.3MySanAntonio. Secret Hearing Marks End of Duncan’s Union
What’s Known About the Settlement
The divorce documents were sealed. Neither Tim nor Amy has publicly disclosed the money terms, and the custody arrangements for the two children were not released either.8KSAT. Report: Tim Duncan’s Divorce Finalized The widely repeated figure of roughly $100 million is speculation and has never been confirmed.1Legit.ng. Amy Sherrill’s Biography and Truth About Tim Duncan’s Wife
The closest Duncan came to addressing the settlement in public was at the June 2017 sentencing of his former financial adviser Charles Banks. In a victim impact statement, Duncan told the judge: “I experienced a similar betrayal by my ex-wife, who I paid off in their divorce.”9MySanAntonio. Tim Duncan Slams Ex-Wife, Ex-Financial Adviser in Statement He gave no figure.
The Charles Banks Fraud Discovered During Discovery
The divorce is often linked to a separate financial crisis because Duncan’s lawyers uncovered evidence of adviser misconduct during discovery. That fraud was not part of the divorce settlement itself, but it ran alongside the case and shaped Duncan’s later statements about it.10CBS Sports. Tim Duncan Says He Lost $20M-Plus to Alleged Dishonest Financial Adviser
Charles A. Banks IV had persuaded Duncan in 2012 to take a $10 million line of credit from Comerica Bank and loan $7.5 million of it to Gameday Merchandising LLC, a sports apparel company where Banks chaired the board, with monthly interest promised at 12 percent annually.11Constantin Cannon. Charles Banks, Ex-Advisor to Retired San Antonio Spurs Star Tim Duncan Gameday collapsed, and Duncan alleged total losses across Banks’s ventures of more than $20 million.12Wealth Management. Tim Duncan Settles Lawsuits Against Financial Advisor Banks pleaded guilty to wire fraud in April 2017, was sentenced to four years in federal prison, and was ordered to pay Duncan $7.5 million in restitution.13ThinkAdvisor. Kevin Garnett Sues for Fraud Involving Tim Duncan’s Ex-Advisor Duncan separately settled a civil suit against Banks for $7.5 million.