Originally written on Fox Sports South  |  Last updated 11/12/14
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.
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