Not long after he was hired as the Cardinals’ replacement for Tony La Russa in the dugout, it was reported that Mike Matheny was in serious debt due to bad real estate deals that cost him his 17-room home in Missouri.
14 months later, Matheny was still fighting over just how much he owes the Business Bank of St. Louis, but he lost his case today in front of Judge Tom DePriest, the St. Louis Post-Dispatch reports.
It was reported last year that Matheny might owe more than $4 million after he stopped making payments on land he and a business partner bought. No financial details came out of today’s judgment, though. That matter will be settled during a March 13 hearing.
Matheny made nearly $20 million in a major league career that came to a close in 2006. He sold his home for $1.9 million in 2010 prior to its foreclosure. $1 million of that went to the Business Bank, which claimed that Matheny owed $10.2 million. While his annual salary from managing the Cardinals was never disclosed, Matheny likely makes somewhere between $1 million-$1.5 million per year.