|Cardinals manager Mike Matheny has more than baseball on his mind lately. (Getty Images)|
Derrick Goold and David Hunn of the St. Louis Post-Dispatch wrote an excellent piece on the financial troubles of Cardinals manager Mike Matheny. Basically, Matheny heavily leveraged himself in the real estate market, and he suffered massive, life-changing losses when the bubble popped. Goold and Hunn write:
Matheny, 42, has over the past two years come to grips with losing everything.
He sat his kids down -- twice -- to describe his lost financial goals, illustrate the gap between their debts and net worth, and ask for their patience and understanding.
He sold his estate in Wildwood to pay off bank debt. He moved his family out of the house --himself. It took more than a month, he said.
For a year and a half, they lived with his wife's parents in Chesterfield. He was so upset with the land deal, he refused to drive by it on his way downtown.
Matheny expects to lose all of his savings, to liquidate all of his investments and real estate holdings -- including his childhood home in Ohio, in which his parents still live -- and to have to make up the difference with his future earnings, month-by-month.
Matheny would be the first to acknowledge that these wounds are largely self-inflicted, but it's not a happy story in any context. In that sense, it's impressive that Matheny was, in his first season as a major-league manager, tasked with helming the defending champs, replacing the legendary Tony La Russa and doing so without the services of Dave Duncan and Albert Pujols, all the while lugging around the reality of his financial ruin.
Do read the whole thing. It puts Matheny -- the manager and the public figure -- in a whole new light.
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