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New Cardinals manager Matheny still dealing with financial setback

New St. Louis Cardinals manager Mike Matheny talks to reporters after it was announced Matheny would become the 49th manager in team history at Busch Stadium in St. Louis on Nov.14, 2011.
Bill Greenblatt
/
UPI
New St. Louis Cardinals manager Mike Matheny talks to reporters after it was announced Matheny would become the 49th manager in team history at Busch Stadium in St. Louis on Nov.14, 2011.

Mike Matheny is taking on one of baseball's most high-profile jobs even as he continues to recover from a big financial setback.

The St. Louis Post-Dispatch reports that Matheny and his wife may still be responsible for more than $4 million from a business deal gone bad. The St. Louis Cardinals say they were aware of the situation when they named Matheny manager last week.

The former catcher has a number of business and property ventures. One was an attempt to develop two plots in the St. Louis suburb of Chesterfield.

Matheny was forced to sell his 17-room estate last year after borrowing heavily for the commercial project that never took off.

Matheny declined comment, citing ongoing litigation.