VANCOUVER -- Flamboyant entrepreneur Nelson Skalbania, who has been embroiled in a number of financial controversies, told a private dinner Tuesday he has filed for personal bankruptcy, a radio station reported.
Radio station CKNW reported Skalbania said 'I have filed for personal bankruptcy.
I am making a change in my life.' in a speech to a dinner honoring Conservative Party leadership aspirant Peter Pocklington.
The station said a number of people present at the dinner confirmed Skalbania had said he had filed personal bankruptcy.
Skalbania is best known for his involvement in professional sports, but he compiled a fortune from real estate deals.
He was briefly owner of the now-defunct Montreal Alouettes Canadian Football League team. He also owned the North American Soccer League Calgary Boomers, which also folded. Recently Skalbania sold his half interest in the Vancouver Canadians baseball team of the Pacific Coast League.
In a November interview with the Vancouver Sun, Skalbania said the recession and overconfidence had cost him $50 million in losses. He said he lost $12 million in his sports franchises, alone.
The federal government -- one in a list of creditors -- has sought to collect $2 million in back taxes from the entrepreneur.
In the Sun interview, Skalbania had vowed: 'I will never declare bankruptcy.'
Pocklington was reportedly invited by his friend Skalbania to address the private dinner at Vancouver's plush Bayshore Inn as part of his tour of major cities to drum up political support.
CKNW said that after Pocklington delivered his address, Skalbania delivered his surprise announcement and immediately left the gathering.
Skalbania could not be reached for comment.
