ESPN is reporting that Bernie Kosar has filed for Chapter 11 Bankruptcy in Miami.  Kosar’s filing lists his assets between $1 million and $10 million and debts falling between $10 million and $50 million.

Kosar owes the Cleveland Browns almost $1.5 million in unsecured debt.  He also owes ex-wife Babette $3 million and the owner of the Cleveland Gladiators (Arena Football League) $725,000.  Kosar’s big hole is that he owes a bank about $9 million for bad real estate deals.

I knew the 45 year-old Boardman Spartans grad liked to invest and had a hand in ownership of some local Arby’s franchises.  Kosar also had ownership of a steakhouse which went out of business last year.

Kosar played his college ball at the University of Miami (FL) and was drafted by the Browns.  His 10 + year NFL stint also had stops in Dallas and Miami until he retired in 1996.  Kosar got divorced in 2007.

I can only hope Bernie can pull it together, he is a class act.