Dermontti Dawson Files for Bankruptcy
By admin
Former Pittsburgh Steelers center Dermontti Dawson has filed for Chapter 7 bankruptcy, The Herald-Leader reports.
According to his filing in U.S. Bankruptcy Court in Lexington, Kentucky, Dawson lists $1.417 million dollars in assets and $69.659 million dollars in liabilities, many of which are real estate ventures.
"Unfortunately, my personal guaranty exposure on the debts of numerous real estate interests has led to the Chapter 7 filing. Today's real estate market and economic conditions, plus the fact that I own non-controlling minority interests in the entities which own the real estate, left me with limited options. I certainly wish things had turned out differently and look forward to continuing my contributions to this community," Dawson said on Thursday.
Dawson, 45, was a second-round pick (44th overall) out of the University of Kentucky by the Steelers in 1988. Dawson took the torch from Hall of Fame center Mike Webster, spending his entire 13-year career with the Black & Gold, opting to retire over wearing another uniform when he was released in 2000.
A starter in 181 of 184 career games, Dawson made 7 trips to the Pro Bowl, was a six-time first-team All-Pro, and is a member of the NFL's All-Decade Team for the 2000s. Dawson has been a semi-finalist for induction to the Hall each year he's been eligible, and was a finalist in 2009 and 2010.