Arkansas football coach John L. Smith has a $24.5 million deficit between his financial liabilities and his assets, according to documents filed Wednesday in U.S. Bankruptcy Court, the Northwest Arkansas News reported Thursday.
Smith filed for Chapter 7 bankruptcy on Sept. 6. His financial problems apparently resulted from a real estate investment in Kentucky that went bad during the recession. He was Louisville's head coach from 1998-2002.
Smith was hired as Arkansas' head coach on a one-year basis after Bobby Petrino was fired. The Razorbacks, who were ranked No. 10 in preseason, are 1-2, following a 52-0 loss to Alabama on Saturday.