Arkansas head football coach John L. Smith may soon file for bankruptcy as a result of several failed real estate investments in Kentucky, the Associated Press reports.
Smith, who was hired in April to replace Bobby Petrino, said he wanted to come clean about his financial problems now in hopes that they don’t become a distraction once the season begins.
“There have been some sleepless nights trying to get this resolved,” Smith told the AP. “There comes a point in time where you say ‘Enough is enough,’ and I want it cleaned up and whatever we have to do, we have to do.”
Arkansas athletic director Jeff Long said he knew about the financial problems during the hiring process, and that he didn’t believe the issue would affect Smith’s ability to coach.
The Razorbacks are expected to begin the 2012 season ranked in the top 10 thanks to returning star quarterback Tyler Wilson and record-setting running back Knile Davis.