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Ex-Denver Broncos Coach

The MASSIVE Real Estate Loss

9/3/2011 2:30 AM PDT BY TMZ STAFF

0802_josh_mcdaniels_house_EX
Former Denver Broncos coach Josh McDaniels -- the guy who drafted Tim Tebow last year and later got fired -- has taken ANOTHER major hit in Colorado ... losing $500k on a bad real estate deal.

McDaniels just sold his 5,685 sqft Greenwood Village mansion for $1.95 mil ... HORRIBLE for Josh considering he bought the place for $2.5 mil back in 2009 just after he reportedly signed a 4-year, $8 mil contract with the Broncos.

Don't feel too bad for McDaniels -- he got a new gig as an offensive coordinator for the St. Louis Rams ... and according to TMZ's resident football expert, they'll probably be better than the Broncos this year.


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19 COMMENTS

No Avatar

1.

some guy    

Failure seems to follow this guy around like a bad penny.

1059 days ago
2.

static    

Pat Bowlens is finding out the hard way firing a winning coach like Mike Shanahan is a bad idea.

1059 days ago
3.

Jack    

Just because this guy worked for the Patriots does not mean that he is the next Belichick, clearly he is not based on the disaster of a job he did in Denver. He can't evaluate talent and has no idea how to handle players. Cutler is a perfect example of that. Never underestimate the stupidity of owners and GM's to give jobs to fools like this.

1059 days ago
4.

ChunkyLightning    

He made 8 million on the deal so what he would of just spent that money on hookers and blow.

1059 days ago
5.

Aron C    

I dont know who TMZ football expert is but the Rams are only gonna have a 7 win season if their lucky. Broncos are looking at 9 wins this year... sorry to burst your "experts" bubble TMZ.

1059 days ago
6.

Denver-ite    

Your "resident football expert" might want to look into the Denver defense this year before giving such expert advice.

1059 days ago
7.

Ann    

I know the family that bought the house! they scored! :)

1059 days ago
8.

heh?what?    

This guy was to the Broncos what Obama is to the US.

1059 days ago
9.

alulu4youyou    

There is no doubt that he will write off the loss and thereby lower his taxes and stick the taxpayers with his risky investment and loss. The write off will constitute more welfare for the wealthy and corporations.

1059 days ago
10.

Eric Anderson    

COuld you have opted for a time share instead of outright purchase of the mansion?

1059 days ago
11.

Alex Rene    

"TMZ's resident football expert" thats about as reliable as Charlie Sheen staying sober

1058 days ago
12.

Dave    

How many people want to move into an Olive Garden?

1058 days ago
13.

Tara    

BAAAAHAHAHAHA! probably be better then the broncos, doubt that after mcdummy gets his hands on them!!!! :D

1057 days ago
14.

Alyosha Karamzov    

Actually, Denver is 1-4 and St. Louis is 0-5. Both teams are awful, though. But the pertinent fact is St. Louis has scored a total of 49 points in 5 games - less than 10 points per game. And Josh is the Offensive Coordinator. I don't think he will be in the league much longer.

1014 days ago
15.

CJ    

I wonder if "TMZ's resident football expert" cares to rescind his prediction, specifically that the Rams will "probably be better than the Broncos this year." Maybe he/she has some stock pick to share also?

957 days ago

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