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John L Smith: Arkansas Coach 25 Million in Debt - Bankruptcy

Discussion in 'Sports Zone' started by WPBCowboysFan, Sep 20, 2012.

  1. WPBCowboysFan

    WPBCowboysFan Well-Known Member

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  2. Hoov

    Hoov Senior Member

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    Just from reading the article it sounds like most of his debt is mortgages on real estate. He claims the property values dropped and judging by his age it probably became apparent to him that he was not going to make capital gains by selling the properties in his lifetime, and maybe renting the properties was more hassle than he wanted to deal with for a marginal cash flow - so declare banckrupcy, keep your retirement funds and "house hold furnishings" which could be worth quite a lot and walk away from the real estate leaving tha banks with the responsibility of unloading the properties. With his salary credit cards will start offering him loans in a few months again and once cleared he can pay cash for a house with only a part his retirement fund.
     
  3. baj1dallas

    baj1dallas New Member

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    worst football coach of all time.
     
  4. Sam I Am

    Sam I Am Unfriendly and Aloof!

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    Jerrah, are ya happy? :lmao2:
     
  5. Jammer

    Jammer Retired Air Force Guy

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    Not the worst football coach of all time, but he is one of the worst for Razorback football. I'm guessing he's worried about all the money his is losing on his "investments". It's sad to see how far the Hogs have dropped on his watch.
     
  6. Cowboy_Shawn

    Cowboy_Shawn Active Member

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    I don't think he should be coaching while he's going through this. Being a football coach is pretty much a 24/7 job and if you're going to be successful it requires your complete focus.

    Smith clearly has more pressing issues on his plate that are impacting his ability to coach.
     

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