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New Cardinals manager Mike Matheny lost his dreamhouse, faces lawsuit

Nov 19, 2011, 8:06 PM EDT

St. Louis Cardinals Chairman and Chief Executive Officer Bill DeWitt (L), new Manager Mike Matheny (C) and Sr. Vice President and General Manager John Mozeliak (R) hold a press conference about the new hire in St. Louis Reuters

As it turns out, Mike Matheny needed the Cardinals managerial job a lot more than Terry Francona did.

St. Louis’s new hire lost his 17-room house in Missouri and may yet owe more than $4 million due to bad real estate deals, the St. Louis Post-Dispatch reported Saturday.

Jack Wagman presents a very well researched and detailed account of how Matheny and his business partners suffered during the real estate downturn, costing Matheny both of his homes. Matheny currently lists his in-laws’ home as his address.

Matheny is expected to be one of the game’s lowest-paid managers, at something less than $750,000 annually, after replacing Tony La Russa, so he may remain in debt for the foreseeable future, depending on how the lawsuit goes. The Cardinals, though, knew all about these dealing when they hired him and still believed he was the right man for the job.

As for Matheny’s home, it’s currently listed online with a $2 million asking price. It has seven bedrooms, 10 baths, a practice baseball field and an indoor batting cage on 11 acres.

  1. addictedzone - Nov 20, 2011 at 10:16 AM

    He won’t have the seven bedrooms, but where Matheny will be spending most of his time he’ll still have the baseball field, the indoor batting cage, and more than ten bathrooms.

    • kiddingmeright - Nov 22, 2011 at 6:17 PM

      Dear Matthew P~ Pretty weak story to be putting out there. May I suggest you concentrate on the game of baseball, it’s issues, players, teams etc. and leave this kind of stuff to the grocery store tabloids? A lawsuit for a business situation that is directly linked to one manager or player in this economic environment is not worthy of any mention. Write about real baseball maybe?

  2. JBerardi - Nov 20, 2011 at 10:24 AM

    I’m sure this has nothing to do with his sudden desire to manage a baseball team, an activity he was seemingly uninterested in for the first five years of his retirement…

  3. astrosfan75956 - Nov 20, 2011 at 1:35 PM

    Will he throw games for the money? They just gave us a reason he would need too.

  4. clarknaddison - Nov 20, 2011 at 1:52 PM

    haha his home is listed for 2mm? Did he ever make more than 2mm a year? What an idiot…as a cubs fan, im glad the cards hired this loser as to manage their team.

    • paperlions - Nov 20, 2011 at 2:23 PM

      Matheny made over $18M as a player during his career. I realize that, as a Cubs fan, you are used to calling baseball players users with a 100% rate of accuracy, but in this case you might want to shut it.

      • clarknaddison - Nov 20, 2011 at 2:59 PM

        anyone who makes over 18mm in their career and is debt is flat out sad. the icing on the cake is that the cards upper management hired him to manage their team.

    • cintiphil - Nov 20, 2011 at 4:59 PM

      Are you joking, or just a loser? the Cubs have made more bad deals with money players than the rest of the NL. We made some poor deal here in Cinti, but not anything like you guys. The Phills deal for Howard is not as bad as a guy named Alfonso, or even the Milton deal. We have to go a long way to match just those two. Is there a Carlos deal in there too?

    • ultimatecardinalwarrior - Nov 20, 2011 at 9:13 PM

      It’s not Matheny’s fault that the real estate bubble burst in ’08. This has happened to a lot of Americans, and not all of them are as lucky as Matheny to have a well-paying talent to fall back on.

  5. rcali - Nov 20, 2011 at 3:39 PM

    How does somebody live in a house with only 7 bedrooms?

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