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John L. Smith Reportedly Owes over $25 Million According to Court Documents

FAYETTEVILLE, AR - SEPTEMBER 15:    Head Coach John L. Smith of the Arkansas Razorbacks watches on the sidelines during a game against the Alabama Crimson Tide at Razorback Stadium on September 15, 2012 in Fayetteville, Arkansas.  The Crimson Tide defeated the Razorbacks 52-0.  (Photo by Wesley Hitt/Getty Images)
Wesley Hitt/Getty Images
Ryan RudnanskySenior Writer ISeptember 19, 2012

Arkansas head coach John L. Smith owes over $25 million, according to bankruptcy documents via USA Today.

Smith, who filed for bankruptcy on September 6, reportedly only has $300 cash at his disposal and $500 in his checking account.

The losses come from real estate investment blunders from 1998 to 2002 when Smith was coaching Louisville—the biggest claim being $20 million from Terra Springs LLC.

The 63-year-old has listed slightly more than $9,700 in monthly income, but more than $27,600 in monthly expenses.

It's quite the cloud hanging over Smith's head as he attempts to lead Arkansas this season in the wake of the Bobby Petrino scandal.

After starting out with a 49-24 victory over Jacksonville State, the Razorbacks have lost their last two games—a 34-31 overtime shocker against Louisiana-Monroe and a 52-0 blowout to No. 1 Alabama. Smith filed for bankruptcy two days before Arkansas was uprooted by ULM.

For a program that went 11-2 (6-2 SEC) last season, it's been quite the fall from grace. Smith's current situation doesn't make it any easier for the team to come together.

The good news for the program is that its next ranked opponent is on November 10, against South Carolina. The bad news is that it may not matter the way the team is playing right now.

Arkansas has been trying to look ahead since the Petrino scandal, but it appears there are still plenty of distractions in Fayetteville.

 

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