One time MMA fighter and Olympic gold medalist Rulon Gardner bankrupt

source: msn.foxsports.com
 

Boxers making untold millions and ending up penniless seems to be the rule rather than the exception. 78% of NFL players go bankrupt within two years of retirement. The curse however is not limited to football and boxing. One time MMA fighter and Olympic gold medalist Rulon Gardner has filed for bankruptcy.

They even going after his olympic medal.

Gardner appeared on The MMA Hour last month and related that he was once offered $1 Million to fight Fedor Emelianenko, but turned it down because beating people up in MMA just didn't feel right.

In another setback for one of the world's most decorated wrestlers, Olympic gold medalist Rulon Gardner has filed for bankruptcy after trying to capitalize on his fame in numerous business and publicity pursuits over the years.

Court records show Gardner owes creditors nearly $3 million on a household income of $37,392.

Gardner disputes much of that debt, saying he's being asked to pay off the balance of a loan co-signed by a real-estate partner and lost $400,000 in the deal.

''I got involved in a Ponzi scheme with a lady serving time in federal prison,'' Gardner said Tuesday. He planned to release a full statement later in the day.

Less than three weeks later, the Salt Lake City auction house of Erkelens & Olson is set to sell off his most valuable belongings, including a Ford Excursion SUV, Harley-Davidson motorcycle, dozens of watches and knives, his wrestling shoes and autographed memorabilia.

Gardner's Olympic gold medal was on a seizure list for the auction but authorities couldn't find it and Gardner told them it had been stolen, deputy Cache County Sheriff Brad Slater said Tuesday.

Gardner's major creditor, Las Vegas-based WestCoast Lending Group Inc., obtained a court order for the Aug. 15 seizure at his home in Wellsville. Slater said deputies also couldn't find a Jeep that was supposed to be seized.

Gardner filed for bankruptcy protection Aug. 31 and said he's trying to stop the auction.

''I'm offering to buy the stuff back, but my money is tied up in a lot of businesses,'' he said.

He added, ''I don't have all this money people think Olympic athletes have.''

Gardner rose to fame at the 2000 Sydney Olympics by toppling Russian Alexander Karelin, who had been unbeaten for 13 years. A year later, Gardner won the world title.

Later, Gardner nearly died after a night stranded in the Wyoming wilderness, and he survived a motorcycle accident and a plane crash.

Last year, he weighed in at 474 pounds on the reality TV show ''The Biggest Loser'' before losing weight in a failed attempt to qualify for the London Olympics that friends say taxed his health.

Gardner moved to Wellsville years ago and opened a gymnasium in nearby Logan that now operates under another name. He said he had $1 million invested in the gym.

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Recent Comments »

blacksamurai site profile image  

9/20/12 10:32 AM by blacksamurai

Dicktuck It also says on his profile he has a learning disability so how in the fuck did this mental midget beatKarelin?!?!

kwnel2178 site profile image  

9/20/12 10:06 AM by kwnel2178

Gardner might be better off being a wrestling coach for an MMA camp. Right now many colleges are eliminating their wrestling programs due to lack of funding.

kwnel2178 site profile image  

9/20/12 9:58 AM by kwnel2178

One big reason for the hype of Rulon Gardner has to do with the fact that he was one the Gold doing Greco-Roman and not Freestyle which is rare for an American. Most of the NCAA wrestlers do freestlye wrestling in the Olympics, the Greco-Roman team always seems to be comprised of wrestlers from that Northern Michigan school. Bruce Baumgartner's credentials are way better than Garders and they were at the same weightclass. Baumgartner has a gold in 1984 Olympics, a silver in 1988 Olympics, a gold in the 1992 Olympics, and a bronze in the 1996 Olympics. Not to mention numerious other golds in the Pan-Am games and World Championships. However not to many people outside the wrestling world know of Baumgartner.

BALLSDEEP site profile image  

9/20/12 1:58 AM by BALLSDEEP

All of this.

Ryan Black site profile image  

9/20/12 1:14 AM by Ryan Black

The Russian wrestler that Angle faced that won him his Gold Medal in the Olympics was a far more imposing, threatening looking character from what I recall, and Angle had to beat that fucker, thoroughly, "with a broken freakin' neck," and he beat him in '96.Before his WWE career, he had an endorsement from Domino's Pizza, I believe. I remember the commercial like it was yesterday, it was pre-roids, so he had a full head of hair.I can also recall when Rulon Gardner almost lost his feet to frostbite getting stranded in the jungle. That story was bizaarre.What's crazy to me, is that story of The Biggest Loser. Crazy, because my Grandmother, who raised me, whom I was staying with at the time, watched that show religiously, and rooted for Gardner and wanted him to win the most. My Grandma always followed Olympic Wrestling, specifically... and she had me watching in 1996 at the age of nine when Kurt Angle won the Gold. And she had me watching when Rulon won, also. Interesting story, with a point; I'm sorry, the more you know... The more you FRAT:When he got on that show, my Grandmother wanted me to watch it with her, so I did... and very quickly, something caught my attention: the females on the show, are overweight, but they all have pretty faces. They all looked potentially hot. Then I quickly realized, every single "obese" person on that show- male and female- had perfect faces. Mind you- not "perfect" in a noticeable way. Not something you'd notice at all unless you know what to look for. Well, fortunately for me, one Honors English teacher I had in my sophomore year of highschool spent a whole class session explaining to his class exactly what casting companies look for when picking someone to model- so I am sorta privy as to "what to look for." I was maybe six minutes into the show, watching with my Grandma, when I had to say something. I said to her, "This is staged. All 'reality tv' is, to an extent... but these people, these contestants, they all have 'The Golden Ratio.' The Golden Ratio is a specific symmetrical alignment of the eyes, ears, nose, chin, and jawline. This is what every casting company goes by when picking these people. These aren't "just obese people." These are hand-picked, hand-selected, aspiring models/actors/actresses that went to an open casting call and were called back, likely for a secondary casting call, and these were the ones who made it through the final casting call. You might not find them particularily good looking at-a-glance, but once you look for that alignment of the eyes, ears, nose, jaw, and chin, you can tell. These stories were pre-fabricated. Everything that happens, and the drama that unfolds, is as scripted and poorly acted-out as pro-wrestling vignettes." My Grandma refused to believe the info I was presenting her with. I have a friend who is morbidly obese, and she thought he could do well on this show, if we could only get him to audition. I told her it would never happen, as my longtime friend doesn't have The Golden Ratio. It's the same reason why *everyone* can't be on TV. My Grandma, God rest her soul- said that was bullshit, basically said "it's still real to me damnit!!" and dismissed everything I said. Lol. She took it into consideration over another few conversations, but it was still her favorite show.Point being: my Grandma would be turning in her grave to know that it was really THAT staged; that fake... that they paid him to gain 100lbs. just to be on the show. Gives me a little more insight on the question, "how did these hot baisches end up getting so fackin' huge?" Oh, that's right. NBC is fuckin' PAYING these chicks to gain a hundred pounds. Those chicks on the show are likely plus size models or aspiring actresses. Fuckin' unreal. Literally. I believe it, but I can't say I'm not surprised that they're paying people to become morbidly obese, and finding people who are actually willing to do that to their bodies for money. You can permanently fuck shit up putting on THAT much weight, even if you lose it the healthy way. That's the definition of craziness, and you couldn't pay me to gain fifty pounds of fat- let alone 100! People are fucking nuts! End frat. My apologies.

blacksamurai site profile image  

9/20/12 12:45 AM by blacksamurai

Do tell... Details what were his mannerisms like?

D241 site profile image  

9/20/12 12:11 AM by D241

 I never caught on to the hype of Rulon Gardner. I liken him to Buster Douglas. In hindsight, Karelin was at the very end of his career, not THAT shocking he lost. In hindsight, beating Karelin was Rulon's biggest accomplishment. Like Buster Douglas, after his huge upset, he never stayed at the top and never amounted to much. If Buster Douglas filed for bankruptcy, would a thread about him be made with the same adulation? I wonder.

CRE site profile image  

9/19/12 11:58 PM by CRE

Bankruptcy is not the end of the world in today's economic climate it is becoming more common. It can be seen as a positive step in many financial situations. Investments that were more of a guaranteed hit in the past have become much more risky as of late, maybe he made some financial decisions that weren't the best, but hindsight is always 20/20 and whenever you invest into a business you are taking the risk that it may not work. Just because he failed financially doesn't mean he can't succeed in the future by learning from his mistakes and appropriately adjusting his lifestyle or business arrangements accordingly. Maybe he needs to bring in more income in order to support a certain lifestyle etc. who really knows. What we do know is Rulon seems like a quality person, an American Olympic gold medalist who did us all proud, with lots of knowledge to offer as a teacher, coach or mentor and most speak well of him, so we shouldn't indict him negatively for failing financially. Sure he could have made millions fighting, but that wasn't his passion. You know it's funny how the BIG BANKS FAILED, when they had the odds and the deck stacked in their favor, instead they got huge bailouts.  

devilishstoner site profile image  

9/19/12 11:39 PM by devilishstoner

No, do tell.

Invisible Lats Syndrome site profile image  

9/19/12 11:26 PM by Invisible Lats Syndrome

He found out he couldn't win by stalling until the competition was over.