Bankrupt Unitas Is $3.2 Million in Debt

Johnny Unitas and his wife owe creditors as much as $3.2 million, bankruptcy filings show.

The former Baltimore Colt quarterback and his wife, Sandra, met with six creditors Wednesday to disclose their assets and debts as part of a Chapter 11 bankruptcy proceeding. The couple listed assets of about $1.4 million.

Unitas filed for Chapter 11 reorganization in February. The bankruptcy filing allows individuals or corporations to continue operating while in bankruptcy.

The couple’s assets include their Baltimore County home, appraised at $305,000; an Ocean City condominium that has been on the market for about two years at $200,000; a vacant lot in Florida estimated to be worth $10,000; stock portfolios worth $29,261, and several American-made cars and a truck. Unitas also holds a promissory note valued at $124,216.

Unitas has an NFL pension fund valued at $642,957, but it is protected by the Bankruptcy Code.