Former All-Star Livan Hernandez Files For Bankruptcy After Blowing Through $53M in Career Earnings
It’s not often you see a former baseball player who is forced to file for bankruptcy, as contracts in MLB are fully guaranteed and the money is ridiculous at times.
Former MLB all-star pitcher Livan Hernandez, a one-time World Series hero for the Florida Marlins, just added his name to that short list after he filed for Chapter 13 bankruptcy, according to court documents obtained Monday by Jose Lambiet of the Miami Herald.
“While the case is in its infancy and shows no precise numbers, Hernandez declared owing up to $1 million to as many as 50 creditors.
Hernandez’s paperwork shows that his debts are mainly consumer-style IOUs to businesses like credit card companies Capital One, Chase and Bank of America.
He also owes back taxes to the IRS, according to his papers, and a judgment to a local businessman who lent Hernandez $220,000 in 2013 but hasn’t been paid back.”
Per Lambiet, it’s estimated that Hernandez earned a total of $53 million during his career in the majors. His current net worth is less than $50,000 on the day he filed for bankruptcy, June 30.
Hernandez played for nine different franchises, posting a career record of 178-177 and a 4.44 ERA over 3,189 innings.