The Florida Times Union has more on Mark Brunell’s bankruptcy today. The Times Union has a photo of Brunell next to an outline of his assets and liabilities. According to the bankruptcy filing, the former Jaguar quarterback has assets of $5.5 million but liabilities of $24.7 million.
Brunell’s balance sheet doesn’t have the common characteristics of a broke athlete’s. There are no payments on custom made cars, exotic animals or dinner-plate sized pieces of jewelry. Rather, the quarterback has gone down the same way a lot of people have gone down: real estate.
Most of the debts are listed as personal guarantees that Brunell gave on millions of dollars worth of commercial loans involving several limited liability companies: Champion LLC, Core Development LLC, JWB Ventures LLC and JWB Owner LLC.
Champion, named the most often, is a real estate and development partnership between Brunell and former Jaguars teammates Joel Smeenge and Todd Fordham. Smeenge had already filed for bankruptcy.
“They bought some land and they got killed, like a lot of people did,” said Rick Wilcox, the attorney who filed the bankruptcy filing for Brunell.
For more NFL news, rumors and analysis, follow @cbssportsnfl on Twitter.