Kelsey Grammer - Kelsey Grammer blows money on windmills

Kelsey Grammer has lost hundreds of thousands of dollars investing in windmills.

The former 'Frasier' star expected his investment to be ''lucrative'' but the venture flopped, leaving him worse off financially.

Asked by TMZ for his worst ever investment, he said: ''Investing in windmills. You'd think it would be lucrative, but it's not really a friendly environment for new technology, it really isn't.

''Big wind is doing OK but small wind isn't and it cost me a lot of money - it's got six figures.''

Though Kelsey insists his finances are still ''OK'', he admits there is no chance of recouping his original investment.

He added: ''I'm OK, but I didn't make up for it, it's one of those things that's just a straight loss.''

And windmills isn't the only area where the 57-year-old star is losing money as he recently slashed the asking price for his Beverly Hills home.

Kelsey originally put the property, which he previously lived in with his ex-wife Camille Grammer, on the market for $18.9 million in 2008 but has reduced the price after it failed to attract a buyer.

The outspoken actor - who has children Mason, 11, and Jude, eight, with Camille, and Faith, eight months, with current spouse Kayte Walsh - had dropped the asking price several times already and the plush estate, which the former couple bought in 2007 for $13.7 million before extensively remodelling it, is now listed for $14.995 million.


Tags: Kelsey Grammer - Camille Grammer


More Kelsey Grammer

Reach Me Trailer

When reclusive former football coach, Teddy Raymond (Tom Berenger) releases a self-help book entitled 'Reach Me' it is picked up by millions of people. Collette...

The Expendables 3 Movie Review

Striking a tone somewhere between the po-faced original and the silly Part 2, this rampaging action nonsense is badly overcrowded and chaotic, but there's plenty...

The Expendables 3 Trailer

The cast of 'The Expendables 3' discuss the upcoming action film in a short featurette. Among them are Wesley Snipes, Harrison Ford, Glen Powell, Sylvester...

Did Kelsey Grammer Really Name His Newborn Son After Himself?

Congratulations to Kelsey Grammer and Kayte Walsh, who just had a baby boy! The couple welcomed the new addition to the family at 8.28AM PT...


Transformers: Age of Extinction Movie Review

With each film in the Transformer saga, Michael Bay makes it clear that all he's interested in are massive metallic special effects bashing into each...

Time For "Transformers: Age Of Extinction" To Prove Its Metal With Early Release In China

Transformers: Age of Extinction opens in Hong Kong today, after months of anticipation. Since the previous movies of the franchise performed so well on the...

'Transformers: Age Of Extinction' First Reviews: Another No-Go?

The release of Transformers: Age of Extinction is just days away in the USA, meaning fans of Michael Bay's franchise will soon be gingerly heading...

Transformers: Age Of Extinction Trailer

Taking place after the events of 'Transformers: Dark Of The Moon', we see a new part of the Transformers story in 'Transformers: Age Of Extinction'...



Kelsey Grammer Newsletter

Subscribe to this news alert service to receive news and reviews on Kelsey Grammer

Unsubscribe | Unsubscribe All