Ex-NFL QB Kosar files for bankruptcy

[mesaSteeler]

Ex-NFL QB Kosar files for bankruptcy
Associated Press

MIAMI (AP) - Former NFL and Miami Hurricanes star quarterback Bernie Kosar has filed for bankruptcy protection in Miami.
Kosar's Chapter 11 filing Friday lists assets between $1 million and $10 million and liabilities of between $10 million and $50 million.

Kosar owes almost $1.5 million in "unsecured debt" to the Cleveland Browns, who he played for from 1985 to 1993. Kosar also owes his ex-wife Babette $3 million and $725,000 (from a personal loan) to the owner of the Cleveland Gladiators of the Arena Football League. He owes a bank more than $9 million for bad real estate deals.

The 45-year-old Kosar got divorced in 2007 and last year saw his steakhouse go out of business.

Kosar, who also played for Dallas and Miami, retired from the NFL in 1996.

(It's no wonder he totally screwed up. He must have asked the Brownstains for financial advice. - mesa)

[xfl2001fan]

Divorce + bad business decisions + bad economy = Big name filing bankruptcy. He'll be doing commercials soon.

[Psyychoward86]

Suck it up dreamboat.

[TackleMeBen]

someone got some bad adivce.. how would one get that far in debt?

[El-Gonzo Jackson]

Sucks to be him.

I actually liked Bernie as a competitor. The guy threw an ugly football, but managed to play for a long time and I respected that.

[KeiselPower99]

He Im Bernie Kosar and today I wanna talk to you about The Bernie Kosar grill.

[Dino 6 Rings]

I once saw a program where they showed that Kosar because of his side arm throw, had the exact same height release point as Flutie when they threw passes...

anyway...bad real estate deals...broken man.

[AllD]

Kosar leveraged himself to the gills with real estate deals in South Florida. Huiezinga may have sold the Dolphins for the same reasons to keep his cash flowing instead of the more popular Obama excuse of increased taxation. I know they did deals together, it was in the local newspaper.

Real Estate down here is just starting to pick up again, but at greatly reduced prices. From 2005 to early 2008 all you had to do is buy property and flip it for $$$.

[fansince'76]

I always liked Kosar. That's too bad. I hope he lands on his feet when all is said and done.

[RodWoodsonwasprettycool]

Kosar is still thought of very highly by us Browns fans. The guy manipulated the Draft to play for his hometown team and played very well. Despite the lack of Super Bowl wins with the Browns (Screw Elway), he made us into something special and dominated the AFC Central from '85-'90.

Kosar is thought of so much that our current QB looked up to him as a kid growing up, even dressing up as him for Halloween.






It's very sad to hear this story, and we all hope he can get back on his feet so us Browns fans can hear his great, smart and drunk (allegedly) in the booth during the preseason.