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View Full Version : Football Mark Brunell will file for bankruptcy


Param
06-25-2010, 10:02 AM
http://sports.espn.go.com/nfl/news/story?id=5326679

QB Brunell says he'll file for bankruptcy




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<!-- end mod-article-title --> <!-- begin story body --> <!-- template inline -->Mark Brunell (http://sports.espn.go.com/nfl/players/profile?playerId=445), the three-time Pro Bowl quarterback who as a backup in 2009 for the New Orleans Saints (http://sports.espn.go.com/nfl/clubhouse?team=nor) won a Super Bowl, planned to file for Chapter 11 bankruptcy protection Friday, the apparent result of a string of failed real-estate investments. http://a.espncdn.com/i/headshots/nfl/players/65/445.jpg In the end, we couldn't, and I am no longer able to shoulder this burden.
<cite>-- Three-time Pro Bowler Mark Brunell,
on coming to a resolution with creditors</cite> Among them was a partnership called Champion LLC that included Brunell and former Jaguars teammates Joel Smeenge (http://sports.espn.go.com/nfl/players/profile?playerId=159) and Todd Fordham (http://sports.espn.go.com/nfl/players/profile?playerId=1399) and is mired in foreclosure proceedings stemming from a 2005 loan for $2.2 million, according to The Florida Times-Union.
"The timing of the group's real-estate acquisitions at the height of the real-estate market, in hindsight, clearly was not good," Brunell said in a statement e-mailed to the newspaper.
Brunell faces multiple lawsuits from his involvement in Champion, The Times-Union reported. Brunell's failed real-estate investments also included projects in Traverse City, Mich., and Grand Rapids, Mich.
Brunell, who has made nearly $52 million during an NFL career spanning more than 15 years, told The Times-Union he had for years covered the group's loan payments as it sought a resolution with its creditors.
"In the end, we couldn't, and I am no longer able to shoulder this burden," Brunell said.

vailpass
06-25-2010, 10:04 AM
To be accurateBrunell's business is filing for bk, Brunell is probably just fine.

Rain Man
06-25-2010, 10:05 AM
God must hate Mark Brunell.

Sofa King
06-25-2010, 10:09 AM
God must hate Mark Brunell.

Nah. He's cool.

Rausch
06-25-2010, 10:09 AM
Hate to see this.

He helped make an expansion team watchable AND competitive for years.

MahiMike
06-25-2010, 11:09 AM
Living in Jax, I've been following this story. Apparently, they borrowed half the money to build a condo complex and the loan officer was let go before they could get the other half. He owned it with Joel Smeenge and one other Jag. Brunell also is co-owner of Whataburger w/his best friend Tony boselli. Has a 5500 sf home right on the beach. Guess the economy bites everyone...

LaChapelle
06-25-2010, 11:10 AM
Perhaps he can raise some Cash doing an Axtell ventriloquest dummy commercial
otherwise it will be Barnesville after Sue City