Former Jacksonville Jaguar QB Brunell Files for Chapter 11 Bankruptcy
Former Jacksonville Jaguars quarterback Mark Brunell has filed for Chapter 11 bankruptcy protection, due primarily to a number of lawsuits he faces over failed business loans and bad real estate deals.
Brunell, who reportedly earned over $50 million during his 11 years in the NFL, was most recently the back-up quarterback last year for the Super Bowl Champion New Orleans Saints. He currently lives in Ponte Vedra Beach, Florida, and is a free agent this year.
An article in the Florida Times-Union reported that Brunell is currently involved in a lawsuit stemming from a $2.2 million loan made by CNL Bank in 2005 for a real estate project in Jacksonville Beach. CNL started foreclosure proceedings on the property in May of 2009.
Brunell also had a judgment entered against him and his partners in two Michigan real estate deals worth $1.1 million.
In a statement, Brunell said that he had been making the payments on the real estate loans himself when the partnership known as Champion LLC – which includes former Jaguars players Joel Smeenge and Todd Fordham – could no longer service the debt. He said he was filing Chapter 11 bankruptcy because he could no longer afford to shoulder the burden of those payments alone.
Brunell also said he remains committed to the Jacksonville community, and to continuing to support his Brunell Family Foundation that raises funds for critically ill children and their families.
Greg Gilbert
Keith Maynard
