That "Baywatch" money doesn't last forever!
In a surprising turn of events, despite making millions on mega-popular television shows "Knight Rider" and "Baywatch," David Hasselhoff is broke.
David's dismal financial state was revealed after the actor claimed he's no longer able to support his ex-wife Pamela Bach, and confessed he currently only has $4,000 in cash to his name.
This is bad news for Pamela, who should be receiving $252,000 a year in spousal support from their 17 year marriage. David is trying to get that amount lowered, claiming his earnings have dwindled significantly.
The Hoff explained that low ticket sales caused his European tour to be cut short, which was a major source of income. He currently grosses $112,000 a month and has $66,000 worth of expenses, so the actor says after shelling out Pamela's portion and paying taxes he's unable to save anything. David says that he's hoping new reality show "Hoff the Record" will help revitalize his career, but isn't sure if it will improve his bank account.
Unfortunately for David, Pamela is calling his bluff. She claims that David is actually worth more than $120 million, with assorted property all over the world. She also asserts that he continues to work.
TMZ obtained the court documents, which shed more light on the situation. On paper David is worth $1.79 million, but this amount is tied up in real estate, cars, art, jewelry and cars, meaning David's claims on running low on cash may be truthful.
David and Pamela married back in 1989, but then cited irreconcilable differences in 2006 and divorced. They have two daughters together, 26-year-old Taylor-Ann and 23-year-old Hayley.
This turn of events would explain why daughter Taylor-Ann isn't returning this season on E!'s "Rich Kids of Beverly Hills" -- she's no longer rich. The aspiring musician joined the cast in the third season in 2015, but was not brought back for the fourth season in 2016.
David's financial matters will be resolved soon. The couple have a court hearing at the end of May 2016.