25 Jul2014
Written by CFB Blogger. Posted in Blog
Steve Donner and his wife, Lynne, who list their address as Seminole County, Florida, have recently filed for Chapter 7 bankruptcy in
U.S. Bankruptcy Court in Florida.
According to a news report in the
Democrat and Chronicle by Matthew Daneman and Steve Bradley, Mr. Donner established the
Rochester Knighthawks lacrosse franchise in 1994, owned the
Rochester Americans (Amerks) hockey team when it won the
Calder Cup in 1996 and was part-owner of the
Rhinos soccer team and
Rattlers outdoor lacrosse team. He was inducted into the Rochester
Knighthawks Hall of Fame in January.
In Chapter 7 bankruptcy documents, the Donners list just under $17,000 in assets, most of that in the form of two automobiles. He also lists 29.7 shares in the Knighthawks, with a listed value of zero.
The couple also lists $9.5 million in debts with the single largest debt of $8.5 million owed to
NBT Bank for a loan issued to Donner and his former Rhinos partners as advance money for the construction of Rochester’s soccer stadium, now called
Sahlen’s Stadium. Along with $14,000 worth of medical bills and $34,000 in unpaid credit cards, the Donners also show $19,000 in business debts owed in conjunction with the
Orlando Titans, the
National Lacrosse League team that played for one season in 2010; $735,000 owed to
RR Sports Associates of Pittsford and Andrew Gross Jr.; and $79,000 owed to
Federal Credit Union from a short sale of their North Greece, New York, home, which they sold in 2012.
The Donners’ paperwork shows a joint monthly income of about $4,000; he worked as a project manager for the
Daytona Ice Arena and now works for a meat-packing company. Mrs. Donner works in business development at
FFC Mortgage Corp. of Henrietta.
In the news article, the erstwhile sports mogul stated, “’It’s not that big of a thing, it’s just a restructuring of my finances, really. I was just trying to see over time if I could fix this. It’s not gloom and doom. I’m fine, everything is OK.’”
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