These Athletes Have Lost Their Jobs And Their Millions
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Bruce Berenyi – Bad Investments
Society of American Baseball Research
Former Cincinnati Reds and New York Mets pitcher Bruce Berenyi was so important to his teams that his arm was actually insured! So, after injuring it, he retired from baseball with a $202,000 disability payment from Lloyd’s of London in 1986. However, just a few years later, Berenyi had accumulated over $300,000 in debts and filed for bankruptcy in 1992.
However, he was able to keep his pricey condo in North Miami Beach. The estate was definitely a smart choice. You see, Florida actually allowed bankruptcy filers to keep all the equity they have in-home, and Berenyi paid cash, so his home was safe. Just 14 months after buying the condo, he threw a curveball to his lenders by declaring personal bankruptcy. The banks lost their money, while the pitcher spends his golden days on his property!
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