Arkansas Razorback Head Football Coach John L. Smith always believed real estate development was the safest investment of all, saying “you may not make money, but you won’t lose money.”
But the taking on of too much debt has had the Arkansas coach to rethink that philosophy in recent years after several of his land deals went bust in Kentucky. Smith told The Associated Press that he is making plans to declare bankruptcy, perhaps during the upcoming season.
LITTLE ROCK, Ark. (AP) — Arkansas coach John L. Smith is trying to wipe away $25.7 million in debt in bankruptcy court and hang onto $1.2 million in retirement accounts and some personal property, all while he leads the Razorbacks through one of the strangest seasons in team history.
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