Graig Nettles, who rose to baseball stardom...
Graig Nettles, who rose to baseball stardom in the mid-1970s as the New York Yankees’ third baseman, has filed for protection from creditors under Chapter 11 of U.S. Bankruptcy laws.
The financial reorganization petition filed Thursday suspends any legal action to collect debts from Nettles, 43, and his wife, Virginia, while a court-supervised creditor payment plan is developed.
Assets and liabilities each total more than $1 million, according to a petition filed on behalf of the Del Mar couple by attorney Gerald N. Sims.
Among the couple’s largest creditors are the Portland, Ore., office of the Federal Deposit Insurance Corp., owed $705,000; the Torrey Pines Bank in Solana Beach, owed $250,000; and Benjamin Franklin Leasing in Portland, owed $185,000.
Nettles, a 20-year major league veteran who played high school baseball in San Diego, returned to his hometown in a March 1984 trade between the Yankees and Padres, who released him after the 1986 season.
A part-time player for Atlanta last season, Nettles is expected to return to spring training with the Braves this year.
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