Bankrupt Kosar owes Browns $1.5M

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By Wire report 9:45 PM Friday, June 19, 2009

Former Browns quarterback Bernie Kosar, often promoted as someone who should be involved in running the team, has filed for bankruptcy protection in Miami.

Kosar’s Chapter 11 filing lists assets between $1 million and $10 million and liabilities of between $10 million and $50 million.

He owes almost $1.5 million in “unsecured debt” to the 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.

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I feel bad for Bernie but it just show's there are no boundries on who succeeds and fails. I truly feel sorry for him but he's not the first and won't be the last. Good Luck in the future Bernie.

JEME
7:15 AM, 7/8/2009

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The Browns should help Bernie out as well as the team and hire him as the QB coach or possibly as Offensive Coordinator. Pay him a couple mil a year so he can get back on track. He did a lot for this city back in the day!!

Jon H
8:44 PM, 6/24/2009

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Seems like the $1 1/2 million he owes to the "Browns" would be the Art Modell Browns of old, now the Ravens.

ironmyke
4:34 PM, 6/22/2009

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wow!
that's just scary since he majored in finance at the university of miami and was always portrayed as a very intelligent man! I guess it shows that anybody can run into financial problems no matter how smart you are!

bulldog
4:51 PM, 6/20/2009

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