Former Major League Baseball outfielder Yasiel Puig is in increasing legal and financial distress after filing for Chapter 11 bankruptcy in early July just weeks before he is set to be sentenced in a federal case for illegal sports betting.
Former MLB Star Yasiel Puig Files Bankruptcy Amid Court Battle
Court documents indicate the filing was made July 2 in a Florida bankruptcy court. The move allows Puig to restructure his finances while still addressing outstanding obligations to creditors. The paperwork estimates put his total assets at somewhere between $10 million and $50 million, and his liabilities are estimated to be between $1 million and $10 million. However, the court soon flagged the filing as incomplete, saying key…