Former Jaguars expect Mark Brunell to recover from bankruptcy

Former NFL player Mark Brunell became the latest victim of the real estate downfall. Brunell announced last Thursday that he intended to file for bankruptcy. The following night, he filed his Chapter 11 bankruptcy reorganization.

Mark Brunell used to play as a Pro Bowl quarterback in the NFL for the Jaguars. He had a 16-year NFL career, spanning the years from 1995 to 2003. During his last 10 years, he was paid approximately $52 million. He is the current holder of almost every career record in Jacksonville. He also played as the back-up quarterback for the New Orleans Saints, winners of last season’s Super Bowl. After the last season, he became a free agent, and he has not signed with any other team yet.

Mark Brunell currently lives in Ponte Vedra Beach, and is now facing several lawsuits, mostly from failed business and real estate loans in the states of Michigan and Florida.

Brunell’s former teammates, Bryan Barker and Tony Boselli, are sympathetic, and ran to their co-Jaguars defense. Both have said that Brunell became involved in a wrong investment, like many people who also invested in real estate. These investors, however, haven’t gotten too much notice since they weren’t professional athletes. Both Barker and Boselli are expecting Brunell to eventually recover from his bankruptcy.

Professional athletes who suffer from failed businesses and go into bankruptcy usually become the talk of the town. According to Ken Ruettgers in 2006, former player for the Green Bay Packers and gamesover.org director, 78 percent of former NFL players are unemployed, bankrupt or divorced two years after their retirement. This data was questioned by Bruce Laird, former player for the Baltimore Colts and head of the Fourth and Goal group that assists former players of the league. According to him, there has been no study conducted to support that data. He, however, said that half of the players who asked for assistance during the last year, including Andre Rison, Eric Dickerson and Michael Vick, retired after the year 2000. He attributed many of the players’ financial woes to medical bills from sports injuries, some of which can leave the players disabled.

As with any investment, especially when it comes to real estate, there are always risks involved. Former NFL players aren’t exactly at a higher risk for going into financial collapse, but since they are public figures, their failures and success are expected to make headlines.

Related Posts with Thumbnails

Tags:

One Response to “Former Jaguars expect Mark Brunell to recover from bankruptcy”

  1. Real Estate Investments Says:

    First post and just making a comment!

Leave a Reply

CommentLuv badge