The good news for free-agent quarterback Mark Brunell? Based on his bankruptcy filing, he has $5.5 million in assets.
The bad news? He has $24.7 million in debt.
Roger Bull of the Florida Times-Union reports on the details of the filing. The debts primarily come from personal guarantees Brunell made on millions of dollars in commercial loans that landed in default.
“They bought some land and they got killed, like a lot of people did,” Brunell’s attorney, Rick Wilcox, said.
That’s fine, but we’re amazed that a guy who earned more than $50 million during his NFL career has only $5.5 million in assets. Where’s the rest of it?
Sure, he paid a lot to the government in taxes and such. But he should have had $25 million or so when the dust settled. How did Brunell rip through $20 million?
It’s information from which every kid at the ongoing Rookie Symposium would benefit greatly.