Mark Brunell to file for Bankruptcy

[Ruhskins]

Wow!

Mark Brunell to seek bankruptcy, former Pro Bowler says - ESPN

[irish]

Wow is right. I sure hope he wasnt getting his investment advice from Gibbs.

[MTK]

Yeah heard about his financial troubles a few weeks ago. Apparently that's why he hasn't retired yet, he can't afford to.

[Monkeydad]

I wonder if any of his real estate investments were near New Orleans...the land is probably worthless and unsellable down there. Jacksonville has been hit harder than most cities in the nation from this economy also, which is no secret...just look at their ticket sales.

I wondered how it happened when I saw the title...he's a good person, not one to have child support issues or a gambling problem like so many other pro athletes. Real estate was a big cash cow for a few years, but it took a violent and sudden downturn...a LOT of people got burned bad.

From the article, it sounds like other members if his investment group couldn't hold up their parts and he tried to cover the entire thing himself for a couple of years...and just couldn't sustain it.

Diversify your investments...don't try to rely on any one source of investment income...if it goes south, you lose everything.

[CrazyCanuck]

52 million isn't what it used to be...

[sandtrapjack]

Originally Posted by CrazyCanuck

52 million isn't what it used to be...

Totally unrelated to Brunnel, but I saw this post and saw the posters avatar was AH and could not help but chuckle.

[Beemnseven]

Originally Posted by Buster

I wonder if any of his real estate investments were near New Orleans...the land is probably worthless and unsellable down there. Jacksonville has been hit harder than most cities in the nation from this economy also, which is no secret...just look at their ticket sales.

I wondered how it happened when I saw the title...he's a good person, not one to have child support issues or a gambling problem like so many other pro athletes. Real estate was a big cash cow for a few years, but it took a violent and sudden downturn...a LOT of people got burned bad.

From the article, it sounds like other members if his investment group couldn't hold up their parts and he tried to cover the entire thing himself for a couple of years...and just couldn't sustain it.

Diversify your investments...don't try to rely on any one source of investment income...if it goes south, you lose everything.

From the article:

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.

[Monkeydad]

Originally Posted by Beemnseven

From the article:

Michigan's economy is VERY bad too, likely second-worst to only California.

[Monkeydad]

Maybe Mark will play for another decade. He can still be a holder at age 50.

[artmonkforhallofamein07]

The thing about the Brunnel situation is he is not the only one in this boat right now who was invested heavily in real estate dealings. There are alot of people out there who are stuggling after the market crashed in Sept of 08.


Right now in America Cash is King so hold off on any heavy investing right now rooks and pros.

[SolidSnake84]

I cant believe it....he seemed like such a good smart family guy.....the last guy in the world you'd think would have blown all their money....i'm saddened

[MTK]

Originally Posted by SolidSnake84

I cant believe it....he seemed like such a good smart family guy.....the last guy in the world you'd think would have blown all their money....i'm saddened

He didn't blow it, it was due to some investments that went bad.

[tryfuhl]

Originally Posted by Mattyk

He didn't blow it, it was due to some investments that went bad.

All of his eggs in one basket kind of is blowing it.. shame he put all of his money into it... 52m should last a lifetime and then some... not saying he's greedy and having your money work for you is great but he blew through more than any of us will likely see, he didn't need that much more that he ended up sinking himself

sounds like this is a biz 11 though right? hopefully the family still has some

[GMScud]

Originally Posted by Mattyk

He didn't blow it, it was due to some investments that went bad.

I disagree. He put too much into investments. Any intelligent adult could tell you not to invest so much that you aren't left with enough to cover your liabilities. Said investments went bad and he lost his shirt. With as much money as he's made, he should have socked away enough to live off of seperate from those investments. Poor planning. He blew it IMO.

I will say I'm pretty surprised that a guy as seemingly intelligent as Brunell finds himself in this situation.

[skinsfan_nn]

Originally Posted by GMScud

I disagree. He put too much into investments. Any intelligent adult could tell you not to invest so much that you aren't left with enough to cover your liabilities. Said investments went bad and he lost his shirt. With as much money as he's made, he should have socked away enough to live off of seperate from those investments. Poor planning. He blew it IMO.

I will say I'm pretty surprised that a guy as seemingly intelligent as Brunell finds himself in this situation.

Typo. Put the same post in twice. Look up