Charlie Batch gets to keep most of his assets in bankruptcy

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Steelers backup quarterback Charlie Batch is making out pretty well after going to bankruptcy court this week.

The Pittsburgh Post-Gazette reports that Batch had many of his debts discharged, meaning creditors can’t come after him. His Chapter 7 bankruptcy allows him to keep most of his assets, including his house and his Super Bowl rings. Previous reports indicated that Batch could lose his Super Bowl rings in bankruptcy.

Batch listed $2.3 million in assets and $8.3 million in debts, mostly involving various failed business ventures. Batch has played 13 NFL seasons and likely made well over $20 million, including the $13 million signing bonus he received from the Lions in 2000.

As an active member of the NFLPA*, Batch should speak at the upcoming rookie symposium. Young players could learn a thing or two from a player who made enough money to last several lifetimes, but had to declare bankruptcy before his career ended.

23 responses to “Charlie Batch gets to keep most of his assets in bankruptcy

  1. As an active member of the NFLPA*, Batch should speak at the upcoming rookie symposium. Young players could learn a thing or two from a player who made enough money to last several lifetimes, but had to declare bankruptcy before his career ended.
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    Something tells me they have had a lot of former players who have suffered similar financial fates speak at the Rookie Symposium. I don’t think it makes a difference.

  2. The NFL should require players to have a 3.0 GPA in order to join the league and be drafted.

    too many dumb players who blow everything! I can’t feel bad for him though, he was handed a bag of cash. What more could you want.

    Court should have taken his house and superbowl ring. Why should creditors get screwed?

  3. I have reviewed Mr. Batch’s bankrupcty petition and schedules. It is absolutely abhorrent to think he can file a bankruptcy and keep THOUSANDS of dollars (if not 10s of thousands of dollars) worth of personal belongings and memorabelia. He claims he makes ZERO money. Well, no kidding, but he CAN make money. Go get a job! If all else fails, he WILL be making money again when the season starts. He should be ashamed of himself for filing bankruptcy when he has the ability to make money and pay down his debts. It absolutely sickens me.

  4. Hey, a guy lost a bunch of money on *FAILED BUSINESS VENTURES*. That’s hardly doing a Dez and buying a boatload of bling.

    If you check the report they explain how the debts are due mostly to Batch Development Co., Kings Bakery LLC, and Courtland Place LLC.

    Batch invested in things that were profitable in 2006 but after the recession went under. There are an awful lot of people in that same boat, including most of the banks the US Govt floated billions of dollars to for the exact same reason.

  5. It could be worse—

    He could be Lenny Dykstra and tried to scam the trustee and end up getting busted on bankruptcy fraud.

    Roscot is correct. LOTS of folks (99.5% non athletes) went belly up in the last 5 years. The posters ought to cut Batch some slack.

  6. Hey, a guy lost a bunch of money on *FAILED BUSINESS VENTURES*. That’s hardly doing a Dez and buying a boatload of bling.

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    Exactly. Dez’s bling still has a boatload of value.

  7. Shouldn’t the smart players teach the young players? If we keep having the stupid ones teach then we will develop even dumber players .

  8. I have some friends and family in Pittsburgh. According to them he dropped a good bit of cash on charities in the area too. I know the town where he grew up is nothing to brag about!

  9. I care about as much as Charlie Batch’s personal finances as he does mine…..But why should he teach the rookies?…Trial by error?….Why not have the many many NFL players, who made uptold millions live comfortable lives talk to them….Seems backwards to me……

  10. Why is a guy going through bankruptcy- a former starting QB at that – allowed to be a player rep? Shouldn’t there be a fear that his financial situation could cloud his judgement?

  11. @dukemarc …

    He’s allowed to be a player rep because the players respect him. He didn’t go out and blow his money on strip clubs and bling. He tried to be a responsible citizen, investing in worthwhile businesses and donating money to charity.

    Charlie isn’t a victim of the wretched excesses of the superstar lifestyle. He’s a victim of the wretched excesses of an unregulated Wall Street and banking system that destroyed the U.S. housing market, financial systems, and global economy by playing fast-and-loose with nonexistent assets. Nor is he the only person declaring bankruptcy who is able to escape his debts with some of his personal assets intact. That same option is open to business owners around the nation.

  12. @jw731 …

    Because Charlie was a victim of the national economic implosion, I don’t know that his story would be as valuable to incoming rookies as the story of someone who simply squandered his money foolishly. But I think it’s important that they hear from both sides. They should hear from players who saved their money, sought sound financial counseling, and invested in businesses that would be profitable after football. And they should hear from guys who squandered their money living large and wound up with nothing. They should hear from guys who wound up paying child support for umpteen baby mamas and those who lost their careers after getting arrested for drug and gun violations.

    You want young players to have positive role models, but letting them hear horror stories from the guys who lived them is a powerful teacher.

  13. I think the shots are unnecessary. This isn’t a young man who owes thousands on jewelry, this is a veteran played who tried to create real opportunities for himself and unfortunately they didn’t go well.

    I’m happy for Batch, especially being somebody who has had some close people have to file for bankruptcy. He has made a lot of money but he has put in a lot of work over these years and deserves to keep a good amount of that and most definitely that ring.

  14. I think the shots are unnecessary. This isn’t a young man who owes thousands on jewelry, this is a veteran played who tried to create real opportunities for himself and unfortunately they didn’t go well.

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    The truth is you don’t know what the hell Charlie Batch spent his money on. Could have been cancer research, could have been Fanta Orange and Beer Nuts. All we really know is Charlie Batch is bankrupt and Dez Bryant is not.

  15. @melonnhead …

    Yes, we do. Charlie lost his money in real estate ventures. It’s been well-publicized.

  16. @melonnhead …

    So was the evidence that the accusations were fabricated. Do you work hard at being a jerk, or is it a gift?

  17. It would seem Batch lost his money on legitimate business deals that blew up – this isn’t the same as what some other players have done in losing their money.

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