Wednesday, April 12, 2006

How can this be?

Darren McCarty has filed for bankruptcy.

n documents filed in U.S. Bankruptcy Court in Detroit, McCarty listed assets of $1.9 million US and debts of $6.2 million.

In addition to at least $185,000 owed to casinos in Detroit and Las Vegas, he listed debts to banks, credit card companies, friends, utilities, law firms and a roofing company. ...

McCarty listed his income as $2.1 million in 2003, $1.5 million in 2004 and $193,959 in 2005. According to court documents, McCarty received $538,729 from the Red Wings when they bought out his contract, but his ex-wife Cheryl received 75 per cent of that - $404,046.


Yikes. Between this and the Rick Tocchet-Janet Gretzky saga, it's been a strange season.

UPDATE: James Mirtle has a good post on the issue. This is probably a bigger problem than a lot of realize most of the time, and I imagine guys who are on the verge of having to do what McCarty did but manage to dig themselves out of the hole are not few and far between, which is sad as much as it is shocking to those of us in the "real world", where six figure gambling debts are as foreign a concept as it gets.

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