Danny White, the former Dallas Cowboys quarterback who recently filed for Bankruptcy Court protection from creditors, says he's unsure about his football future but convinced he took the right step toward financial reorganization of his business interests.
"A lot of people perceive it as a negative, but it's really a positive move for (my family)," said White, who coached the Arizona Rattlers to the Arena Football League championship last month."The last 10 years, every penny I made went into a black hole," he said Tuesday. "While I have creditors to deal with, I'll be able to move again in a positive direction. It's a huge relief to get this done."
White, from Gilbert, Ariz., listed about $50,000 in assets and between $11 million and $13 million in debts, mostly from real estate ventures in Dallas that went sour after he retired from pro football in 1989.
He said Tuesday he was "either naive or greedy" in those investments, adding: "I trusted people I shouldn't have trusted with my money, like so many athletes do after a short career. It was a mistake."
White has said he expects to make good on his debts if creditors grant him sufficient time.