Craig McDermott bankrupt

[Craig]

Owes $40m

And yet he is still driving a Mercedes SUV and living in a $9m mansion

[Mister Wright]

Just proves cricketers should stick to commentating after finishing their careers.

[social]

Originally Posted by Craig

Owes $40m

And yet he is still driving a Mercedes SUV and living in a $9m mansion

Never had the best of reputations and guys like AB were wise to get out of their business dealings with him when they did

Unfortunately, he appears to be one of those guys whose creditors will suffer more than he does - stay tuned for a deal where he settles for .00000000245 cents in the dollar

[Richard]

Originally Posted by Craig

Owes $40m

And yet he is still driving a Mercedes SUV and living in a $9m mansion

[Langeveldt]

He's got a piece on the side and a climate controlled wine cellar.. I don't care how much debt he is in..

[howardj]

My Dad used to know Macca.

He's a garden variety arsewipe from all reports (Macca that is).

[archie mac]

Originally Posted by howardj

My Dad used to know Macca.

He's a garden variety arsewipe from all reports (Macca that is).

I once faced him in the nets when I was a junior player, he was very quick and very arrogant

[armchairumpire]

Just because you are good with a cricket ball doesn't make you automatically good at other things - and that includes doing commentary.

However, I once saw McDermott modeling clothes and he looked OK. Perhaps he should have stuck to that.

I feel sorry for people who invested and might have been dazzled by his high profile. A lesson in that for all of us!

[social]

Originally Posted by armchairumpire

Just because you are good with a cricket ball doesn't make you automatically good at other things - and that includes doing commentary.

However, I once saw McDermott modeling clothes and he looked OK. Perhaps he should have stuck to that.

I feel sorry for people who invested and might have been dazzled by his high profile. A lesson in that for all of us!

To be fair to McDermott, he has had a long and at times very successful career in property development.

It's not as though he's a dope that rolled the dice with no experience and lost a shed-load of money.

People were persuaded to invest in his companies because of his track record but unfortunately, he's gone broke - not the first developer to do so and wont be the last

[armchairumpire]

Originally Posted by social

To be fair to McDermott, he has had a long and at times very successful career in property development.

It's not as though he's a dope that rolled the dice with no experience and lost a shed-load of money.

People were persuaded to invest in his companies because of his track record but unfortunately, he's gone broke - not the first developer to do so and wont be the last

Fair point Social. However, I think sometimes people are more trusting of famous people who endorse products even though they might not be any better than their competitors.

[social]

Originally Posted by armchairumpire

Fair point Social. However, I think sometimes people are more trusting of famous people who endorse products even though they might not be any better than their competitors.

True and McDermott certainly played up his cricketing profile.

In fact, one of his developments that went under also had AB and Alfie Langer as spokespeople and "supposed" investors/directors in effort to appeal to the Mums and Dads of Queensland