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Documents: John L. Smith has just hundreds of dollars on hand

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Arkansas coach John L. Smith wants everyone to smile. Given that he’s recently filed for Chapter 7 bankruptcy because of some bad real estate investments, you have to give him credit for staying positive — especially when you find out just how much money he actually has (and owes).

Per the USA Today, bankruptcy documents filed Wednesday show that Smith has just $300 in cash on hand and $500 in his checking account. Smith’s 10-month contract with Arkansas pays him just under $20,000 a month. Of that, he lists $9,278 in net income but $27,620 in expenses. In all, he owes $25.7 million in liabilities and has only $1.2 million in assets.

Wow.

Smith told the Associated Press in July that he was planning to file for Chapter 7 bankruptcy, which designed to liquidate debts.

Smith is a content machine for sites like CFT, and we admittedly have fun at the expense of his, shall we say, demeanor. But the financial struggles JLS is facing? It’s terrible.

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11 Responses to “Documents: John L. Smith has just hundreds of dollars on hand”
  1. southernpatriots says: Sep 19, 2012 9:09 PM

    That kind of financial pressure can really affect most people very adversely. That could be at least one of John L.’s pressure sources. The other three could be defense, defense, defense.

  2. southernpatriots says: Sep 19, 2012 9:13 PM

    Another way of looking at the three additional pressures on Coach John L. are:

    1. offence 2. defense 3. special teams

  3. roundup5 says: Sep 19, 2012 9:31 PM

    I know John L., is a super nice guy however, how can one
    stay focused with all that debt and everything he has lost.
    If I were Arkansas, I would speed up the replacement and
    hire as “head Coach in Waiting”, so they can keep any
    potential recruits in the fold. Otherwise, they are going
    to lose some of the more talented ones!

  4. lbijake says: Sep 19, 2012 11:16 PM

    Somehow I think the AD should have known about this before the hire, which makes the whole thing suspect.

  5. prostock75 says: Sep 19, 2012 11:50 PM

    @lbijake …he did know, Smith was upfront with him about the bankruptcy during the interview

  6. rsmeans says: Sep 19, 2012 11:55 PM

    First Arkansas should fire their AD who in many ways is responsible for all the Arkansas woes.

  7. choochoorider says: Sep 20, 2012 3:23 AM

    Rsmeans. Ur an idiot!!

  8. 10kmp says: Sep 20, 2012 8:56 AM

    I don’t understand why anyone would hire Smith to coach their football team, even on an interim basis. He just comes off as a goofball. He plays the fool and seems to enjoy doing so… which is dumbfounding. Having said that I sincerely feel sorry for the guy, and I hope that he makes it thru this intact.

  9. thefiesty1 says: Sep 20, 2012 9:48 AM

    I wish I had $20k a month to try to live on. Bad real estate investments are hard on everyone.

  10. kozbee says: Sep 20, 2012 11:10 AM

    Coaching i would guess he`s trying to pocket a few bucks but the way Ark is running his paychecks will be short coming soon.Smith is no type of coach i would expect to run a team and now a long way to even being a National contender.Smith and the AD both need to be fired and relign the Razorback team.Sucks being Smith i would bet.

  11. hobbes1957 says: Sep 20, 2012 12:02 PM

    Has Arkansas covered a line this year?… Just sayin’..

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