The Gray Pages

Tuesday, August 21, 2007

Great moments in the history of the world

August 8, 1992: Jack Clark Files for Bankruptcy

JACK CLARK, in the second year of a three-year, $8.7 million contract with the Boston Red Sox, has filed for bankruptcy and listed $6.7 million in debts. "He had some expensive hobbies, and I think they got ahead of him," said FLETCHER A. ROBBE of Long Beach, Calif., the ballplayer's lawyer.

The 36-year-old Clark filed a Chapter 7 bankruptcy petition on July 30 in Santa Ana, Calif. Details of the filing appeared in The Orange County Register yesterday. Clark, batting only .211 and sidelined with shoulder injuries, could not be reached for comment.

Clark, who previously played for San Francisco, St. Louis, the Yankees and San Diego in a career that began in 1975, listed debts of more than $11.4 million and assets of nearly $4.8 million in his filing.

He was also listed as having bought 18 automobiles, including a 1990 Ferrari that cost $717,000 and three 1992 Mercedes Benz cars costing between $103,000 and $143,000. He still owes money on 17 of the automobiles, is liable for about $400,000 in Federal and state taxes and lost about $1 million in the past year in a drag-racing venture, the petition said. (AP)


... incidentally, Jack Clark's ability to waste his $8.7 million pales in comparison to Lou Gorman's ability to waste Jean Yawkey's $8.7 million. At least Jack Clark got a car.

0 Comments:

Post a Comment

<< Home