Originally posted on 60 Max Power O  |  Last updated 9/20/12
University Of Arkansas head football coach John L. Smith is coaching on a 10 month contract, and the details of that contract won’t be nearly enough to satisfy the countless debts he owes. According to USA Today John L. Smith owes creditors more than $25 million in liabilities stemming from real estate losses he suffered while he was the coach of Louisville from 1998-2002. Smith filed bankruptcy documents in federal court Wednesday, and the details are extremely disheartening. Smith has $1.2 million in assets which are tied up in retirement funds and other ventures. In those court documents Smith admitted to have $300 to his name in cash and another $500 in his checking account. The only real estate the interim coach owns is 8 acres of property in Iona, Idaho that belonged to his deceased parents valued at $8000. The biggest claim against Smith is valued at $20 million from Terra Springs LLC, in Louisville. Smith to his credit is facing this head on and is honest about the
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