Entrepreneur’s financial, personal challenges mount

Damon Dash’s custody challenge continues. Damon Dash’s troubles seem to be increasing as 2008 progresses. Following widespread reports of home foreclosure action against him and the loss of his licensing agreement with Pro-Keds, the Roc-a-fella Records co-founder is dealing with ongoing child custody grief. Dash recently filed a motion to force the mother of his son, Damon “Boogie” Dash Jr., to return him to Damon Sr. The film and music entrepreneur has sole legal custody. A judge this week threatened to issue an arrest warrant for Linda Williams if Boogie wasn’t brought home. A lawyer representing the teenager says he wants to remain with his mother.

Americans, Jamaican compete in British Grand Prix.

Tyson Gay has won the 200-meter dash in 20.26 seconds, while Asafa Powell grabbed a 9.87 victory in the 100 at the British Grand Prix. The sprinters, who both missed individual golds at the recent Beijing Olympics, shined during Sunday’s competition in London . Powell had anchored Jamaica ’s world-record-breaking, gold relay team in China , but was disappointed with his fifth-place finish in the 100. American Lauryn Williams, who was involved in the baton-dropping fiasco of the women’s 4×100 relay at Beijing , beat Olympics champ Shelly-Ann Fraser in the Grand Prix’s 100, a race that featured five Beijing finalists.

.
Damon Dash dropped from deal.

More bad news for the Roc-a-Fella Records co-founder who recently had news of his pending home foreclosure hit headlines: Damon Dash recently lost his licensing agreement with Pro-Keds. Dash had actually given the impression that he bought the old-school sneaker company. He spoke of plans to make the lesser-name brand hip for a new generation. But now the brand has terminated Dash’s deal. The entrepreneur has yet to strike gold as he did when he helped found the record label that helped make his ex-partner, Jay-Z, a superstar.

.Music entrepreneur hasn’t paid mortgage since January

Donald Trump recently bailed TV legend Ed McMahon out of home foreclosure, so maybe he can help Damon Dash, too. The co-founder of Roc-a-Fella Records hasn’t made a payment on his $78,504.20-per-month mortgage since January, according to The New York Post. Dash and his wife, Rachel Roy, are in jeopardy of losing their New York residence after taking out a $7.3 million loan on two Tribeca properties. The former hip-hop heavyweight reportedly owed $2 million in back taxes last year and has been fighting back debtors, despite an estimated $50 million net worth.

Stacey Dash recovering from circus mishap
“Clueless” TV star Stacey Dash is recovering from a “Celebrity Circus” mishap that left the sexy actress with three cracked ribs. The reality show, set to air this month, found Dash and other notables performing big-top style feats. But Dash fell while trying to climb a length of fabric. The show appears to be rapidly claiming casualties as the “Brady Bunch’s” Christopher Knight and Olympic swimmer Janet Evans both also suffered injuries.

“Sopranos” star competes in separate Gaye biopic
Both Set It Off director F. Gary Gray and HBO series star James Gandolfini are set to take part in separate films about the life of late, great soul singer Marvin Gaye. Gray will direct Marvin, while Gandolfini – better known as the character Tony Soprano – will have a supporting role in Sexual Healing. Sexual Healing will star Jesse L. Martin as the singer. “This is my passion project, the one that I wake up every day thinking about,” Gray says. Gandolfini, a producer of Sexual Healing reportedly has secured rights to the singer’s post-Motown releases, while Marvin is expected to feature Gaye’s popular Motown recordings. Gaye died tragically when he was shot by his father after an argument between the two, reportedly while Gaye was under the influence of drugs.