(Fox News) - Sylvester Stallone’s estranged wife Jennifer Flavin says she deserves more than half of the couple's assets in their Florida divorce because the "Rocky" star allegedly squandered their assets, court papers show.
"The husband has engaged in the intentional dissipation, depletion and/or waste of marital assets which has had an adverse economic impact on the marital estate," the Aug. 19 divorce petition states, arguing that Flavin, 54, should get a greater piece of the pie in the division of wealth.
Stallone, 76, is worth an estimated $400 million from his movies, real-estate deals and various businesses.
Flavin, a former model from the San Fernando Valley region of California, has largely stayed out of the public eye while raising their three daughters.
Under Florida law, she is entitled to 50% in a divorce, and the former couple has amassed significant wealth in the 25 years they have been married.
"There’s obviously an allegation of wrongdoing," said Valentina Shaknes, a partner in the matrimonial law firm Krauss, Shaknes, Tallentire, Messeri LLP.
The clause in the divorce petition does not specify how Stallone allegedly blew through the couple’s funds but, Shaknes said, "It could be anything from gambling to supporting significant others if there’s a girlfriend or something like that."
Flavin and Stallone tied the knot in 1997 when she was 29, and he was 51 at the Dorchester Hotel in London. However, there has been trouble in paradise recently, with Flavin photographed in Los Angeles without her wedding band 11 days before she filed for divorce.
A few days later, Stallone was photographed covering up a portrait of Flavin on his right bicep with the visage of his beloved late dog Butkis, who appeared alongside him in "Rocky."
Flavin’s divorce lawyer, Jeffrey Weissman, is known in the wealthy enclave of Palm Beach for representing extremely high-net worth clients.
Abigail Beebe, a Florida matrimonial lawyer, agreed that there appears to be an allegation of financial misconduct. "This language is standard language but unless it’s something they believe has happened, it wouldn’t be included in this way," she said.
The filing further requests an order barring Stallone from selling or transferring their assets during the proceedings.
The high-profile divorce is noteworthy for its publicness, Beebe told Fox News Digital. In Florida, when rich or famous people part ways, they normally file after hammering out the details of their split.
"Look at Jeff Bezos," she said. "When we found out about his divorce, it was already over."
To avoid the spotlight, Flavin also could have filed elsewhere in Florida as long as both parties agreed to the change in venue, she said.
In the petition, Flavin requested "exclusive use and occupancy" of the former couple’s 13,241-square-foot waterfront home, which cost them $35 million in 2020.
The "Rambo" star has no shortage of alternative housing. He can retreat to California, where he dropped $18.2 million on a Hidden Hills mansion in March.
Flavin has not commented publicly on the split, while Stallone told Fox News Digital, "I love my family. We are amicably and privately addressing these personal issues."
By Rebecca Rosenberg
Tracy Wright and Larry Fink contributed to this report.
