October 30, 2014
MIAMI (AP) - Former NFL and Miami Hurricanes star quarterback Bernie Kosar has filed for bankruptcy protection in Miami.
Kosar's Chapter 11 filing Friday lists assets between $1 million and $10 million and liabilities of between $10 million and $50 million.
Kosar owes almost $1.5 million in "unsecured debt" to the Cleveland Browns, who he played for from 1985 to 1993. Kosar also owes his ex-wife Babette $3 million and $725,000 (from a personal loan) to the owner of the Cleveland Gladiators of the Arena Football League. He owes a bank more than $9 million for bad real estate deals.
The 45-year-old Kosar got divorced in 2007 and last year saw his steakhouse go out of business.
Kosar, who also played for Dallas and Miami, retired from the NFL in 1996.