Arkansas Coach Faces Bankruptcy

Tools

By Sports Department

Story Created: Jul 4, 2012 at 4:39 PM EDT

Story Updated: Jul 4, 2012 at 4:39 PM EDT

FAYETTEVILLE, Ark. (AP) -- Arkansas coach John L. Smith says he is making plans to declare bankruptcy as a result of several land developments gone bust in Kentucky.

Smith was hired by the Razorbacks in April to replace Bobby Petrino, who was fired after revelations that he had hired his mistress in the football department and given her $20,000 in gifts.

Arkansas athletic director Jeff Long says Smith told him of his financial problems during the hiring process. Long says he is comfortable the issue will not affect Smith's ability to coach Arkansas in the wake of the Petrino scandal.

Smith, also a former head coach at Michigan State and Louisville, says he was a partner in the land deals and that total money involved is in the ``multimillions.''

Add a comment

Name:

Comment: 1000 Characters Left

ABC Columbia and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

Current Weather

Columbia
Current: 78°
Cloudy
High: 78°
Low: 69°
Wind: 6 MPH
Pressure: 30.04
Humidity: 76 %

What's on WOLOTV Full Schedule