Sports agent Leigh Steinberg has filed for Chapter 7 bankruptcy protection, right here in Santa Ana, California. Leigh Steinberg is a famous sports agent who was the real life inspiration for the movie Jerry Maguire. Some of his clients include Troy Aikman, Warren Moon, Steve Young and Ben Roethlisberger.
Steinberg's main debt is back-rent owed to the Irvine Company for his leased office space in Newport Beach. This debt is estimated to be around $1.4 million. Steinberg said that his personal battle with alcoholism and an employee taking an authorized loan has led to his debt issues.
Many people may wonder how can a super sports agent be eligible for Chapter 7 bankruptcy? Like all other debtors, Steinberg must have qualified based on his monthly income. As far as his personal assets, his attorneys must have made sure that they were fully protected using bankruptcy exemptions.