Famed sports agent Leigh Steinberg is bankrupt.
The sports agent who inspired the Hollywood blockbuster “Jerry Maguire” has filed for Chapter 7 bankruptcy protection in Santa Ana, California. After years of excessive drinking and recklessly spending millions of dollars and failing to pay personal and business taxes, Leigh Steinberg, who represented some of NFL’s greatest athletes, is flat out broke. Hopefully, Steinberg does not relapse and return to alcohol or visit an on-line Canadian pharmacy to escape the financial and legal responsibilities he created and the people’s lives he destroyed.
Some of Steinberg’s notable clients included Troy Aikman, Warren Moon, Steve Young, and Ben Roethlisberger. Additionally, he represented boxing sensation Oscar De La Hoya. Though Steinberg’s financial woes date back for several years, he stated that the filing did not come sooner “because of my moral and legal obligation to people who advanced me funds or performed services in good faith. But the constant and aggressive collection efforts and press initiatives undertaken by creditors have harassed my family and prevented me from working to be able to pay these debts.”
Unfortunately for Steinberg, the “constant and aggressive collection” is understandable considering he owned millions in unpaid personal loans, rent, and credit card debt. No one is disputing alcoholism is easy to overcome, but it’s hard to be sympathetic to a multi-millionaire who dwindled millions and then files for bankruptcy so he doesn’t have to pay it back. According to court records, Steinberg reported $483,500.00 in assets but $3,180,139.22 in liabilities.
A representative of one of the several secured creditors exclaimed that Steinberg better “show me the money!”
Steinberg filed in the US Bankruptcy Court, Central District of California (Santa Ana); Petition # 8:12-bk-10425-TA.
