Found September 20, 2012 on
Fox Sports South:
FAYETTEVILLE, Ark. (AP) -- New documents filed in Arkansas coach John L. Smith's bankruptcy show he has debts of more than 25 million and assets of just over 1.2 million.
Smith filed for Chapter 7 bankruptcy earlier this month after real estate investments he made in Kentucky went sour. The documents filed Wednesday show Smith's biggest assets are two retirement accounts worth about 600,000 each. Smith claims both are exempt from liquidation.
The largest debt listed is 20 million owed to a business in Louisville, Ky., called Terra Springs LLC.
Smith has said he made land investments when he was coaching Louisville from 1998-2002 and that he and other investors lost money when the real estate market tanked.
After Arkansas fired Bobby Petrino, Smith accepted a 10-month contract worth 850,000 to lead the Razorbacks.
BEST OF MAXIM
Arkansas head football coach John L. Smith, who filed for Chapter 7 bankruptcy on Sept. 6, has $27.5 million in liabilities according to USA Today.
Smith, who took over as interim coach for Bobby Petrino, listed just $300 in cash on hand and $500 in his checking account in a court filing, according to USA Today.
In July, Smith disclosed that his financial troubles were caused by...
If you thought Arkansas’ 1-2 start was head coach John L. Smith’s greatest concern, you might be wrong. The Bobby Petrino replacement filed for bankruptcy on Sept. 6, and according to bankruptcy documents he filed, his financial situation is pretty sad.
Per USA Today’s Brent Schrotenboer, Smith wrote on documents that he had just $500 in his checking account and $300 in cash...
SEC coaches on the hot seat, AKA the Jimmy Sexton is about to get paid
Part 1 will look at two coaches who have a great deal of work to do to make it to media day 2013. Part 2 will look at two other coaches who are in dicey situations.
1. John L. Smith—Arkansas. Some in the blogosphere tried to spin this as a very smart hire (guilty) in the wake of the Bobby Petrino/girl in the...
Hogs’ Coach Doesn’t Bring Home the Bacon
On Wednesday, Arkansas interim head coach John L Smith filed for Chapter 7 bankruptcy in federal court. Smith claims to owe $25.7 million in liabilities and represents he has merely $1.2 million in assets.
The former Michigan State head coach is currently earning being paid $850,000 to coach the Arkansas Razorbacks. Smith replaces...
Arkansas football coach John L. Smith will return to Fayetteville on Friday evening after attending his brother's funeral.
The school says Smith flew to Idaho Falls, Idaho, following practice Thursday evening. Bart Smith died Monday and the funeral was Friday afternoon.
Smith formerly coached Michigan State and Louisville. He was hired at Arkansas in April following the firing...
Covering Dixie Like Mildew - The SWRT roundup of SEC news.
Finally, some good news for Arkansas.
Arkansas starting quarterback Tyler Wilson has been cleared to play in Saturday's Razorback game against Rutgers. (AP via Yahoo! Sports)
Where did it all go wrong for Arkansas?
Bobby Petrino, duh. (SI.com)
Mr. Jones strikes up a conversation.
Georgia linebacker Jarvis...
New documents filed in Arkansas coach John L. Smith's bankruptcy show he has debts of more than $25 million and assets of just over $1.2 million.
Smith filed for Chapter 7 bankruptcy earlier this month after real estate investments he made in Kentucky went sour. The documents filed Wednesday show Smith's biggest assets are two retirement accounts worth about $600,000 each...
Some random thoughts three weeks into Hogmageddon:Tyler Wilson, I am impressed! I love a young man who has pride and passion. His speech after Saturday’s ballgame confirmed what I already thought. Tyler Wilson is a leader! Granted, Arkansas’ fifth-year senior quarterback said what head coach John L. Smith should have said. But somebody had to say it.I served in the US military...