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.