Money troubles come to the best of us.
Check out these MLB players who turned to filing bankruptcy when their money troubles caught up to them:
- Lenny Dykstra, former star center-fielder for the New York Mets and Philadelphia Phillies, filed for Chapter 11 bankruptcy protection this month. He has no more than $50,000 of assets and between $10 million and $50 million of liabilities.
- Bill Buckner, a former Red Sox player, went bankrupt in 2008 after his post-athletic career car dealership failed.
- Baseball Hall of Famer Gaylord Perry went bankrupt in 1987 after filing for Chapter 7 bankruptcy. Having played for an astounding eight different MLB teams over the course of his 35-year career, Perry’s post-MLB career farming endeavors failed in the mid-eighties.
- Pitcher and predicted Hall of Fame nominee Tony Gwynn filed bankruptcy in his sixth season in the league, citing back taxes of slightly over $1 million and poor investments, which he blamed mainly on his agent.
- Rollie Fingers, a Hall of Fame pitcher inducted in 1992, filed bankruptcy in 1989 after investments in pistachio farms, Arabian horses and wind turbines went awry. It’s said he owed more than $4 million and his assets were listed as less than $50,000. He was also involved in a tax scandal in 2007.
Tags: bankrupt, baseball players, celebrity bankruptcy, chapter 7 bankruptcy, filed bankruptcy, filing bankruptcy
This entry was posted on Friday, July 24th, 2009 at 10:39 am and is filed under Bankruptcy News and Events. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.