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Bankrupt Kosar owes Browns $1.5M

By Wire report 9:45 PM Friday, June 19, 2009

Former Browns quarterback Bernie Kosar, often promoted as someone who should be involved in running the team, has filed for bankruptcy protection in Miami.

Kosar’s Chapter 11 filing lists assets between $1 million and $10 million and liabilities of between $10 million and $50 million.

He owes almost $1.5 million in “unsecured debt” to the Browns, who he played for from 1985 to 1993. Kosar also owes his ex-wife Babette $3 million and $725,000 (from a personal loan) to the owner of the Cleveland Gladiators of the Arena Football League. He owes a bank more than $9 million for bad real estate deals.

The 45-year-old Kosar got divorced in 2007 and last year saw his steakhouse go out of business.

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