“Real Life Jerry McGuire” Discusses Bankruptcy, Alcoholism, and More

Photo via AP

Recently news reports hit the internet stating Leigh Steinberg, 62, the superagent who inspired Tom Cruise’s Jerry McGuire character, filed for Chapter 7 bankruptcy.  Throughout Steinberg’s illustrious career, he’s represented top athletes such as Troy Aikman, Ben Roethlisberger, Steve Young, Warren Moon, Oscar De La Hoya, and hundreds more. Other career highlights from the powerful sports agent include, a record eight of his clients being selected as the No. 1 overall pick in the NFL Draft and more than 60 first-round selections.

But all of the professional highs could not rid him of personal lows.

Recently Steinberg spoke out on his current financial situation, battling an alcohol addiction for several years, and his plans for moving forward.  While the life of a sports agent is often portrayed as glamorous, Steinberg’s revelations offer another perspective; similar to many multimillionaire athletes who go bankrupt after their careers end.  As Biggie Smalls said, “Mo’ Money, Mo’ Problems.”

Read the confessional email Steinberg wrote to his family, friends, associates, and the Orange County Register:

The public interest in my financial affairs and the inaccurate descriptions of my situation have led me to write this column: I filed for Chapter 7 personal bankruptcy.

I delayed taking this step for a number of years because of my moral and legal obligation to people who advanced me funds or performed services in good faith. But the constant and aggressive collection efforts and press initiatives undertaken by creditors have harassed my family and prevented me from working to be able to pay these debts. Prospective clients have been pushed away after receiving notice of my debts. It doesn’t seem logical to prevent a person who owes you money from working in their chosen field by attempting to ruin his reputation, but that is what has happened. I have lived with this in recent years, and it is time to follow a more constructive path.

I have struggled with alcohol for a number of years. In the past five or six years I began to check out episodically for short periods. My judgment and oversight of my affairs was not consistent and at times impaired. I am responsible for my own addiction — no one forced me to drink — and in revealing my struggle with alcoholism, I am in no way justifying or excusing my circumstance. But I discuss it to provide context as well as understanding and inspiration to those who also battle addictive behavior. I surrendered to the reality that I was an alcoholic and my behavior was impacting family and associates in March 2010. I surrendered to the concept that until I tackled alcoholism, other priorities needed to be put aside.

Continue reading at ocregiester.com.

- S. Renee