Local Sports Entrepreneur Files For Bankruptcy
EL PASO, TX – Local entrepreneur Jim Paul has filed for chapter seven bankruptcy protection after accumulating more than $1-million dollars in debt.
Jim Paul’s name has been synonymous with success throughout his career. Friday he talked to ABC-7 about his plans to get out of debt and back up on his feet again.
Paul got his start in El Paso on Don Haskins’ 1962 freshman basketball team and it did not take long for “the bear” to notice him. “You can almost tell when a guy gets in school what kind of person he is…Jim’s work ethic was great. I always knew he was going to do well,” stated Haskins.
Paul’s fingerprints are all over the El Paso Diablos. He also helped bring the Buzzards Hockey team into town several years ago. “He bought a baseball team that was so far down it was unbelievable and he made it into the biggest thing in this city,” said Haskins, in regards to Paul’s accomplishments with the Diablos.
Paul, who currently promotes contemporary Christian concerts and publishes a local magazine, tells ABC-7 he realizes his talents are in promoting and not accounting. “Chapter seven bankruptcy is a very bad thing in my vocabulary – in my life,” he said, “it’s a result of bad investments and bad decisions.”
Paul is determined to bounce back up and many are convinced he will. “They will not knock Jim Paul out…he will be back in the saddle before too long,” said Haskins.
