Former MLB pitcher Livan Hernandez files for bankruptcy

Former major league pitcher Livan Hernandez has filed for Chapter 13 bankruptcy in federal court in Fort Lauderdale, Fla., according to court papers obtained by the Miami Herald.

Hernandez earned approximately $50 million during a major league career that spanned 17 years.

The 42-year-old Cuban said he owes up to $1 million to as many as 50 creditors, according to the documents. The former pitcher also owes back taxes as well as $220,000 to a local businessman who gave him a loan in 2013 -- one year after the conclusion of his major league career.

Chapter 13 allows filers to come up with a payment plan in an attempt to make creditors whole.

Hernandez began his career with a flourish, as he was named the National League Championship Series and World Series MVP for the then-Florida Marlins. He was selected to a pair of All-Star Games while playing for nine different teams during his career.