Mark Brunell, the three-time Pro Bowl quarterback who as a backup in 2009 for the New Orleans Saints won a Super Bowl, planned to file for Chapter 11 bankruptcy protection Friday, the apparent result of a string of failed real-estate investments.
Among them was a partnership called Champion LLC that included Brunell and former Jaguars teammates Joel Smeenge and Todd Fordham and is mired in foreclosure proceedings stemming from a 2005 loan for $2.2 million, according to The Florida Times-Union.
"The timing of the group's real-estate acquisitions at the height of the real-estate market, in hindsight, clearly was not good," Brunell said in a statement e-mailed to the newspaper.
The Wall Street Journal reported Brunell had not been listed among new filings of the U.S. Bankruptcy Court in Jacksonville, the city where he was to file, as of 2 p.m. ET on Friday.
Brunell faces multiple lawsuits from his involvement in Champion, The Times-Union reported. Brunell's failed real-estate investments also included projects in Traverse City, Mich., and Grand Rapids, Mich.
Brunell, who has made nearly $52 million during an NFL career spanning more than 15 years, told The Times-Union he had for years covered the group's loan payments as it sought a resolution with its creditors.
"In the end, we couldn't, and I am no longer able to shoulder this burden," Brunell said.