NFL Player Mark Brunell Files Chapter 11
According to the Florida Times-Union, Brunell also invested in several other failed real estate projects in Michigan and Michigan-based Select Bank won a $1.1 million judgment against Brunell and his partners. Brunell has tried to keep up with the payments on his own but was no longer able to do so. "The timing of the group's real estate acquisitions at the height of the real estate market, in hindsight, clearly was not good," Brunell said in a statement e-mailed to the Times-Union. Brunell is currently a free agent and has not signed with another NFL team.
Brunell, who used to play for the Jaguars, has been active in the Jacksonville community, and created the Brunell Family Foundation in 1997 to raise funds for critically ill children and their families.The organization has raised nearly $800,000 to benefit charitable causes.
Professional athletes face a lot of choices when it comes to spending their money. Often real estate looks like a stable place to put one's money and see it grow rapidly but many athletes have faced trouble as the real estate market floundered and developments went belly-up.