Found September 21, 2012 on Rumors and Rants:
I’m no Darren Rovell — much to the delight of anyone who has ever met me — but I know a great sports business story when I see one. Or in this case, two. The financial woes of Arkansas football coach John L. Smith and free agent quarterback Vince Young came to light this week, and I’m not sure which tale is sadder. Or funnier, if you’re a sadist. THE JOHN L. FILE Season Highlights: Named Arkansas interim head coach five months after taking head coaching job at Division I-AA Weber State, his alma mater. Promptly guided Razorbacks from Top 10 to back-to-back losses to Louisiana-Monroe and Alabama. Had press conference imploring reporters in attendance to smile. Financial Woes: Has $25.7 million in liabilities compared to $1.2 million in assets, which caused him to file for bankruptcy. Apparently those losses came from bad real estate deals while he was head coach at Louisville from 1998-2002. His assets on hand were $300 in cash and $500 in his checking account. The only property he ...
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