Simpson's Rolex does little to reduce debt

The lawyer for O.J. Simpson said this week that the former U.S. football star used a fake Rolex watch to pay off a small portion of his mounting debt.

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Lawyer David Cook said that the expensive-looking Rolex watch that the former NFL running back presented to the family of murder victim Ron Goldman was actually fake and worth next to nothing, the New York Daily News reported Wednesday.

Cook said that while he plans on getting the gold watch appraised this week, it likely is only worth $125 at best.

"I'm going to take it to Shreve & Co., one of the largest jewelry stores in California, and get an appraisal tomorrow," Cook said.

"It would be tragic if it appraised for less than my Southwest plane ticket from San Francisco to L.A," he added.

Simpson was ordered by a Los Angeles judge on Tuesday to hand over the watch as part of his ongoing payments to the Goldman family.

The Hall of Fame football player was ordered to pay the Goldman family $38 million as part of a civil verdict regarding Goldman's death in 1994, but the family has received few assets.

Before the civil trial, Simpson was acquitted in the killings of his ex-wife and Goldman.