Former UL Coach John L. Smith in financial trouble in Ky.

Former UL Coach John L. Smith in financial trouble in Ky.

Credit: AP

FILE - In this Nov. 1, 2006, file photo, then-Michigan State coach John L. Smith speaks to reporters at an NCAA college football news conference, in East Lansing, Mich. A person familiar with the decision says Arkansas is bringing back John L. Smith on an interim basis next year to replace Bobby Petrino. Petrino was fired April 10 after his affair with a woman he hired as his assistant was revealed by an April 1 motorcycle crash. (AP Photo/Al Goldis, File)

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by Tyler Druin

WHAS11.com

Posted on July 4, 2012 at 3:10 PM

LOUISVILLE, Ky. (WHAS11) - - Former University of Louisville Head Football Coach John L. Smith is making plans to declare bankruptcy as a result of several land developments gone bad in Kentucky.

Smith was just hired as the Arkansas head coach in April to replace Bobby Petrino who was also a University of Louisville Head Football Coach.

Petrino was fired after it was revealed he hired a mistress and gave her $20,000 in gifts.

Arkansas’ athletic director says Smith told him of his financial problems during the hiring process.

Smith says he was a partner in land deals and that the total money involved is in the multi-millions.

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