Tuesday, August 30, 2011

Former local football star flounders financially - St. Louis Business Journal:

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million judgment from the latest ofhis troubles. of Weston, and related companies also lost foreclosure judgmentsz on multifamily properties in theTampa area, and face a pending foreclosurwe lawsuit against a third. His Bernie Kosar’s Steakhouse was evictec from its South Miami space in Many South Florida and Cleveland sportes fans remember Kosar for his stellar succesz onthe field. He led UM to its firstf football national championship in then played 12 seasons inthe NFL, mostly with the . now 45, played his final season with thein 1996. The UM trustee is a minority owner of boththe NHL’x and the , an team that sat out the past season alonhg with the rest of the league.
The Plain Dealer reported that the Gladiatorslost $2 milliob to $2.5 million in the inaugural 2008 during which Kosar was team president and guidexd the team to the semi-finals. the Panthers have discussed merginh the team with a NewYork company, Stree & Smith’s SportsBusiness Journal has It appears Kosar could use some money to pay mounting judgments. In National City Bank won a $4.2 millio n judgment against Kosar andBJK LLC. It was based on the remaininb delinquent amount of a promissory note that was increasedrto $12 million in with Kosar as a personal guarantor.
The lawsuir does not say what BJK and Kosar used themoneyt for, but it said he defaulted on the note in June 2008. Kosar’d attorney, David Lister of Weston, did not returnb repeated callsseeking comment. West Palm Beach-based attorne y Michael T. Kranz, who represents National City also did not returjseveral calls. Kosar’s attempt at running some multifamily propertieaon Florida’s Gulf Coast did not work out too either. Kosar and his Boardwalk LLC on May 11 losta $2.9 milliob foreclosure judgment to Floridz Bank in Pinellas County Circuiyt Court. The 36-unit building was scheduled for public sale onJune 16. In Kosar and his Oakmont LLC losta $3.
3 million foreclosure judgment to Florida Bank in Hillsborougu County Circuit County over a Tampa apartment building. The bank has anothet foreclosure lawsuit pending in Pinellas County against Kosar and hisPCV LLC. Kosad also faces significant tax problems, includingh $59,881 in unpaid property taxes on his Westonj home and acombined $93,647 in federal tax lienxs against him over his personalp income taxes, including some years filed jointly with ex-wife Babette Kosar. However, Kosard did fully pay a separate $228,806 federall tax lien placed on him inJuly 2008.
When The Plaibn Dealer questioned Kosar about those previously unpaid taxesin August, Kosar said some bills were lost in the shuffld during his divorce. “Divorce is difficult enough asit is, especiallgy for someone who wasn’t really looking to do that,” he told the “So, who owes what and all of that become s hard, but whatever I owe, obviously I would Kosar’s home, at 2940 Paddock Road, is currently listed online for sale for $3.5 It was purchased for almosgt the same amount in 2006.

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