FORT LAUDERDALE, Fla. (AP) — Former NFL and Miami Hurricanes star quarterback Bernie Kosar will have his assets sold off.
Court papers show that U.S. Bankruptcy Judge Raymond B. Ray in Fort Lauderdale changed Kosar’s bankruptcy case to a liquidation, or Chapter 7.
The order, issued Wednesday, says a court-appointed trustee will sell Kosar’s assets and and distribute the proceeds to his creditors.
Kosar listed $9.2 million in assets and $18.9 million in debt in court documents filed Sept. 23. He had filed for bankruptcy protection in June.
His initial filing said he owed $1.5 million to the Cleveland Browns, the team he played for from 1985 to 1993. He also owed $3 million to his ex-wife and more than $9 million to a bank for bad real estate deals, among other debts.