Mark Brunell's Crisis: How he lost $50 million

[911Carrera]

That's why I keep educating myself so I can make my own investment decisions. I can live with losing my own money. I can't with letting someone lose it for me.

JACKSONVILLE, Fla. -- Every little boy dreams of becoming a football star.

As a college quarterback for the University of Washington, Mark Brunell was able to realize that dream. In 1993, the young player was drafted by the Green Bay Packers.

Two years later, a new football franchise would pick up the promising quarterback.

The Jacksonville Jaguars had their franchise QB--and this city's love affair with Mark Brunell began.

Fast-forward 18 years. Mark Brunell is still playing football, but for a different team. And the stories are less about his playmaking and more about his financial troubles.

Despite becoming a three-time Pro Bowl player, winning a Super Bowl, and making upwards of 50 million dollars, Mark Brunell is broke.

The money is gone, and Action News has uncovered the papers that show how Jacksonville's beloved former quarterback is now playing defense in Bankruptcy court.

According to court filings, Brunell sank his fortune into nine businesses and enterprises, five of which are no longer in operation. Brunell is now the focus of no less than six lawsuits.

Among the biggest financial losers was a company called Champion LLC, which purchased high-end investment properties. But when the real estate market crashed, Brunell lost every cent of his investment and even more trying to cover the loans with his own money.

Another financial bust was Brunell's investment in a Whataburger franchise. His entire investment was lost on that venture. In all, there are $24,729,766 in claims against the former Jags QB.

"He's trusting and maybe that's a weakness. He looks for the best in people," said Michael Huyghue, Commissioner of the United Football League. In Brunell's day, Huyghue spent more than five years in the front office at the Jaguars.

Huyghue knows Mark as a man of faith and family. He says Brunell is a smart, educated man--and never one to flaunt his success.

"There's no better character person, he's got toughness as an athlete [...] a guys guy. He's the kind of person who will always do the right thing, but his story is more widespread. Not just in football, but other sports as well."

Ken Ruettgers retired from the Green Bay Packers in 2006 and started a non-profit to help players learn how to live without football.

"It's something like 78% of former NFL players, two years after their last game are either bankrupt, divorced, or unemployed," said Ruettgers.

So while Mark Brunell's story is not uncommon--he has handled his financial misfortune with grace. According to his bankruptcy filings, once he retires from the Jets this year he will come home to Ponte Vedra to work as a medical sales representative.

Brunell also continues to do charitable work through his family's foundation.




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Copyright 2011 High Plains Broadcasting LLC All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

 

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