Bernie Kosar Files Chapter 11 Bankruptcy In Florida
June 20th, 2009 | by Paneech |
ESPN is reporting that Bernie Kosar has filed for Chapter 11 Bankruptcy in Miami. Kosar’s filing lists his assets between $1 million and $10 million and debts falling between $10 million and $50 million.
Kosar owes the Cleveland Browns almost $1.5 million in unsecured debt. He also owes ex-wife Babette $3 million and the owner of the Cleveland Gladiators (Arena Football League) $725,000. Kosar’s big hole is that he owes a bank about $9 million for bad real estate deals.
I knew the 45 year-old Boardman Spartans grad liked to invest and had a hand in ownership of some local Arby’s franchises. Kosar also had ownership of a steakhouse which went out of business last year.
Kosar played his college ball at the University of Miami (FL) and was drafted by the Browns. His 10 + year NFL stint also had stops in Dallas and Miami until he retired in 1996. Kosar got divorced in 2007.
I can only hope Bernie can pull it together, he is a class act.
