Jack Johnson Is Fighting For His Contract In Bankruptcy Court

Columbus Blue Jackets defenseman Jack Johnson filed for Chapter 11 bankruptcy last October, after being scammed out of millions by his parents. Now, he’s attempting to convert his filing into a Chapter 7 case—which, in very broad terms, would allow Johnson to resolve his debts by liquidating his assets instead of via… »9/10/15 2:20pm9/10/15 2:20pm


Serie A Side Parma, $106 Million In Debt, Declared Bankrupt

Serie A side Parma, who are dead last and a sure thing to be relegated, was declared bankrupt in Italian court today, according to The Guardian. While it looks like they will finish out the Serie A season—possibly with funding from the league or Italian soccer federation—there remains the possibility that the club… »3/19/15 8:08pm3/19/15 8:08pm

The 11 Best Things For Sale At Curt Schilling's Bankruptcy Auction

Curt Schilling is being sued by the state of Rhode Island as a result of that whole video game company going bankrupt and defaulting on $75 million in loans thing. In an attempt to satisfy his creditors, Schilling's putting the contents of his Medfield home up for estate auction, enabling you (or somebody else) to buy… »10/08/13 9:15am10/08/13 9:15am

New Owner Of Chicago Arena Football Team Is A Bankrupt Convicted Felon

David Staral Jr. bought the Arena Football League's Chicago Rush in February. He replaced an owner whose tenure had lasted three months before the league "terminated its relationship" with her because of financial issues. But, look: Staral has three convicted felonies to go with even bigger financial issues. »5/07/13 6:11pm5/07/13 6:11pm

Lawsuit Alleges That Curt Schilling's Company Concealed Financial Information To Get Loan From Rhode Island

It's been months since the Curt Schilling's quixotic pursuit to create an online role playing game ended with his video game company, 38 Studios, going belly up. 38 Studios didn't go bankrupt until after it had taken a $75 million dollar loan from the state of Rhode Island, though, and new court documents reveal that… »4/08/13 12:55pm4/08/13 12:55pm

Auburn Wrests Title Of "Team Everyone Wants To Play" From Arkansas

Arkansas beat Auburn today, which in itself wouldn't be so strange except that as recently as this morning it was reasonable to ask whether Arkansas would ever win another game, ever, ever. The Hogs were a preseason top-10 team that lost f̶i̶v̶e̶ four games—in September. If someone was to cushion the fall, Tulsa… »10/06/12 7:48pm10/06/12 7:48pm

Arkansas Coach John L. Smith Realizes He's Actually $40 Million In Debt, Not $25 Million

John L. Smith is even more broke than he initially thought. He first filed for bankruptcy on Sept. 6. In a subsequent filing, on Sept. 19, he reported $25.7 million in liabilities and $1.2 million in assets. You don't have to be a CPA to know that this is a bad cash flow position. But wait, it gets worse. Smith filed… »10/03/12 7:15pm10/03/12 7:15pm

Report: The NHL Is Planning To Seize The New Jersey Devils From Their Owner

Jeff Vanderbeek, he's the guy above, not the guy from Dawson's Creek. He owns the New Jersey Devils, or at least he "owns" them in the same way that the Wilpons own the Mets or Frank McCourt owned the Dodgers. Oodles of his debt weigh the team down, and he can't pay it off. The Devils missed a loan payment back in… »6/18/12 11:40am6/18/12 11:40am

The Mets' Owners Have Reached A Settlement With The Bernie Madoff Bankruptcy Trustee

The federal trial was supposed to begin this morning, but Richard Sandomir of The New York Times tweeted that the Wilpons and Saul Katz have instead reached a settlement that will cost them $162 million. Irving Picard, the trustee representing the victims of Bernie Madoff's Ponzi scheme, had been seeking $303 million. »3/19/12 10:10am3/19/12 10:10am

If There's A Lockout, Charlie Batch Could Lose His Super Bowl Rings

Batch declared bankruptcy in December, and his creditors now have the option of seizing the property he used as collateral to secure his debt. That includes "a 2006 Kawasaki personal watercraft, and sports memorabilia and jewelry." Among that, his two Super Bowl rings, as well as his collection of autographed jerseys. »3/23/11 4:15pm3/23/11 4:15pm