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

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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.

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