Tuesday, July 31, 2012

Another MLB Star Files For Bankruptcy

From the Las Vegas Sun: Jose Canseco Jr., the 1988 American League MVP slugger for the Oakland A’s who later admitted to steroid use, filed for Chapter 7 bankruptcy protection Tuesday in Las Vegas.
Canseco, who has been playing for the minor league Worcester Tornadoes in Massachusetts, listed extensive tax debts and other liabilities in Tuesday’s filing.
His bankruptcy petition, which says he lives in Las Vegas, lists $20,850 in assets against $1.686 million in liabilities. Among the liabilities is some $506,000 owed to the IRS as well as various judgments and accounts in collection.
Canseco ranks 34th on the all-time home run list with 462 HRs.
Canseco made millions both as an athlete and off field in acting and endorsements.
Now, he is broke.
Now, another highly paid athlete throws his finances down the drain.

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