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 Post subject: NMR: How does a pro athelete go 6 mill in debt?
PostPosted: Wed Apr 12, 2006 8:38 pm 
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Major Label Sell Out
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Oh yeah it's Darren McCarty

Quote:
AP

Detroit β€” Former Detroit Red Wing Darren McCarty, one of the city's most popular professional athletes in recent years, has filed for bankruptcy.

In documents filed in U.S. Bankruptcy Court in Detroit, McCarty listed assets of $1.9-million (U.S.) and debts of $6.2-million.

In addition to at least $185,000 owed to casinos in Detroit and Las Vegas, he listed debts to banks, credit card companies, friends, utilities, law firms and a roofing company.

McCarty, 34, said in court filings that many of his assets are tied up in insurance polices, his NHL pension and $490,000 in business loans that are unlikely to be repaid.

McCarty played 11 seasons for the Red Wings. The defenceman's combativeness, charitable work and sideline as a rock guitarist made him a fan favourite. McCarty also scored the winning goal in the clinching game in 1997 as Detroit won its first Stanley Cup in 42 years.

The Red Wings bought out McCarty's contract in July after a lockout of NHL players cancelled the 2004-2005 season. He currently plays for the Calgary Flames.

McCarty listed his income as $2.1-million in 2003, $1.5-million in 2004 and $193,959 in 2005. According to court documents, McCarty received $538,729 from the Red Wings when they bought out his contract, but his ex-wife Cheryl received 75 per cent of that -- $404,046.

Marty Fried, McCarty's lawyer, blamed the bankruptcy on last season's NHL lockout, the divorce that was finalized in February, 2005, and a smaller contract with the Flames.

β€œHe's not making the money he used to make,” Fried told the Detroit Free Press in a report published Wednesday. He said McCarty now makes about $850,000.

The Free Press said it could not reach McCarty for comment.


How does AP call him a defenceman?

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 Post subject:
PostPosted: Wed Apr 12, 2006 10:20 pm 
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maybe he also removes fences


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PostPosted: Wed Apr 12, 2006 10:22 pm 
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looks like someone's gonna be on the injured list with "broken legs".

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PostPosted: Wed Apr 12, 2006 10:24 pm 
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Also impressive: didn't MC Hammer throw away like, $60 million?

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 Post subject: Re: NMR: How does a pro athelete go 6 mill in debt?
PostPosted: Wed Apr 12, 2006 10:39 pm 
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Damen Wrote:
his ex-wife Cheryl



Ding, ding, ding!!! We have a winner.


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PostPosted: Thu Apr 13, 2006 4:22 pm 
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I just heard something on the radio this morning about how Steve Garvey is in even more debt than this.

np: "Pigs (Three Different Ones)"

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 Post subject: Re: NMR: How does a pro athelete go 6 mill in debt?
PostPosted: Thu Apr 13, 2006 4:26 pm 
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frostingspoon
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Saint Patrick Wrote:
Damen Wrote:
his ex-wife Cheryl



Ding, ding, ding!!! We have a winner.


I know, 75%. Someone justify that to me, please. What was he keeping her from doing by marrying her that would've netted her $404,000?

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 Post subject: Re: NMR: How does a pro athelete go 6 mill in debt?
PostPosted: Thu Apr 13, 2006 4:51 pm 
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Quote:
AP

In addition to at least $185,000 owed to casinos in Detroit and Las Vegas,

Dumb-ass.


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