Hitting major league pitching during baseball's steroid era proved much easier for Rafael Palmeiro than becoming a real estate tycoon has during these troubled economic times. Snubbed in January for the Hall of Fame, and set back in June by his land development company filing for bankruptcy, Palmeiro today finds himself where so many other Americans do: begging creditors for more time to pay bills.
If only Palmeiro's autograph were worth something right now, he could sell some signed memorabilia to whittle down what he owes. Not that baseball card shows would begin to truly cover his debts.
The Fort Worth Star-Telegram reports that Palmeiro's company has requested five years to sell about 200 acres of undeveloped land in Grapevine, Texas — property north of Dallas/Fort Worth International Airport. Creditors are owed about $40 million and Palmeiro personally is on the hook for about $10 million of that. But it's all right — Palmeiro has it all figured out: