Donald Bails Out McMahon

Grinding economic times took their toll on Ed McMahon, the once wealthy side-kick par excellence to Johnny Carson. Facing foreclosure, the well-loved television icon told his troubled story to the nation on Larry King Live. Now, it seems that it is The Donald who will ride to the rescue.

In a surprising generous move, Donald Trump stepped in to buy the Beverly Hills home and plans to lease it back to the star and his wife Pam. Not friends, Donald only admired the onetime Star Search host from afar, and told the LA Times that he watched him while in business school.

McMahon, now 85, seems to have stumbled into a string of catastrophes. Having been sued three times for unpaid loans and legal fees, he defaulted on $4.8 million in mortgage loans from Countrywide Financial Corp. He told King that too much spending and two divorces did him in. Then, McMahon suffered a neck injury which knocked him out and left him unable to work, he then sued Cedars-Sinai Medical Center for their allegedly deficient care of these injuries.

These circumstances conspired to boot him from his six bedroom, five bathroom home of 18 years for which he paid $2.6 million in 1990. The home had languished on the market for several years, most recently listed at $4.6 million.

Up against a two week deadline from creditors to find a buyer, an aide flew to seek an audience with The Donald in person to make McMahon’s plea. Whatever the aide said must have warmed the gold glazed titan’s heart as McMahon now has a mogul for a landlord.

Via Luxist