* Things not so good for Sports Publishing

November 4, 2008

According to this item from Publisher’s Weekly by Jim Milliot:

Sports Publishing, which filed for Chatper 11 in late October, has released the names of its largest unsecured creditors. Along with the usual suspects of printers, manufacturers and various financial institutions, Sports Publishing owes Olympic champ Michael Phelps $57,578.08. The company released Michael Phelps: Beneath the Surface, in March 2005 and on its Web site is promoting an updated edition. Phelps wrote the book with sportswriter Brian Cazeneuve, which, the court documents show, is owed $49,093.58. In the weeks prior the Chapter 11 filing, several authors complained that Sports Publishing and its president Peter Bannon owed them thousands of dollars. Bannon has acknowledged that some authors got “caught in the middle” of his financial problems.

I know it’s not a baseball item, but SP has done scores of them over the years. The quality has always been steady but unspectacular, kind of like a lot of baseball players.

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