The St. Louis Post Dispatch has a story on new Cardinals manager Mike Matheny’s financial troubles. According to the story, Matheny and his wife owe more than $4 million from business deals that have gone bad.
Matheny has several business and property ventures including one that that included development of two plots of land in the suburb of Chesterfield. When demand for real estate dried up, Matheny was unable to pay back the debt he borrowed and was subsequently sued by the bank. The debt will cost Matheny his 17 room estate in Wildwood, which included an indoor batting cage, a water slide, a treehouse with electricty and a floating island green in the middle of a private lake.
The Cardinals said they were aware of his financial troubles during the interview process.