John Smoltz’s Wyoming Lot Headed to Foreclosure

Source: Netbrawl.com

Here’s a headline that raised a few eyebrows recently: Former Atlanta Braves pitcher and Cy Young Award winner John Smoltz faces foreclosure on property he owns in Wyoming.

According to the Jackson Hole News & Guide, Smoltz owes the lender approximately $1.6 million on a lot he purchased in December 2005 in the Snake River Sporting Club, which has been embroiled in a major bankruptcy case and has changed ownership several times since 2004.  Smoltz’s lot, which is in the Jackson real estate market, is set to go up for auction on Aug. 23.

This news comes somewhat as a shock for the mere fact that Smoltz made about $135 million in his career and is presently a broadcaster for TBS, which can only mean he could be doing a strategic default, perhaps due to the troubled financial situation of the Snake River Sporting Club.

Baseball fans will likely remember Smoltz as the bearded starter (and later, closer) on one of Major League Baseball’s most dominant rotations. The threesome of Greg Maddux, Tom Glavine and Smoltz gave the Braves a formidable rotation for seven consecutive seasons (1993-1999), but they only produced one World Series title. Go figure.

Individually, Smoltz won a Cy Young Award (1999), was an eight-time All-Star selection and was the 1992 National League Championship Series MVP. Although he did not reach 300 careers wins due to an elbow injury, he recorded 213 wins and 154 saves— a strong argument to land in Baseball’s Hall of Fame.

According to BND.com, county leaders have foreclosed on $6 million worth of bonds related to the Snake River Sporting Club site because developers failed to install infrastructure and roads as promised. And perhaps Smoltz, who knows a thing or two about throwing, knew throwing good money after bad was a losing proposition.

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