How Burt Reynolds’ Divorce Turned Him into a Bankrupt Actor, Selling His Own Stuff

• Burt Reynolds was one of the leading actors in the 80s.
• He was famous for his 1977 movie "Smokey and the Bandit" with Sally Field.
• He married Loni Anderson, but their divorce and a few failed shows left him broke and bankrupt.

Burt Reynolds had a booming acting career in the 80s. He was the star of the timeless 1977 film, "Smokey and the Bandit."

The movie might have topped the box office, but the actor revealed that he almost did not get his leading lady, Sally Field. Reynolds said he knew he wanted Field as his main lady, but the studio refused because they thought she was not sexy enough.

But Reynolds insisted that her talent would bring out the sexy they sought. Reynolds was right; the film was filled with some of the best chemistry, and its numbers surpassed "Star Wars" at the box office.

Even the film director Hal Needham said some scenes were pure passion between the two actors. Reynolds and Field's romance continued off-screen, but after five years, their relationship ended.

Field did not give much detail about why things ended between them. She simply said, "Relationships have to go through rough times. If they are important to you, you make those rough times make it better."

The couple was one of Hollywood's most loved duos, and there was still hope that they would reconcile, but the actors both moved on to marry other people.

Reynolds married his first wife, Judy Carne, an English actress, in 1963, but their marriage ended after two years. She was famous for her roles in "Bonanza" and "Alias Smith and Jones."

In 1988 the actor married actress Loni Anderson. The two met in 1981 and started dating a year later. They had a public relationship and became Hollywood's "it" couple, gracing several magazine covers.

In 1982, Reynolds confessed that he and Anderson were trying hard to focus on their relationship and ignore the public scrutiny. However, he was still determining how much the media would impact their connection in the long run.

Inside Loni Anderson and Burt Reynolds's Marriage

Anderson and Reynolds dated for six long years, with their fans and the media waiting patiently for them to get married. Then things started to look promising when the actors moved in together in 1984.

The couple had ups and downs when Reynold struggled with health issues. But they built a chapel on their 160-acre ranch in 1985 and eventually tied the knot there in 1988.

Reynolds took the initiative to arrange the whole wedding, and by the end of the celebrations, he said, "I married my best friend today," to which Loni responded, "I feel like Cinderella. I married Prince Charming."

The couple then expanded their family and adopted their son Quinton. "I never knew I could fall in love with anyone the way I have fallen in love with Quinton," expressed Reynolds.

However, things took a dark turn, with Reynolds saying his marriage with Anderson was a mistake. "I should have known that you don't marry an actress," he said. In his memoir, the actor revealed that his ex-wife was overly concerned about her image.

She reportedly never wore a piece of clothing again once she was seen with it in public. Reynolds said he gave her a credit card with a $45,000 limit, and it was maxed out in an hour.

Besides the overspending, Reynolds confessed that Anderson cheated on him. Eventually, the marriage ended, and the "Boogie Nights" star announced their split in 1993. The actor's representative said the union was broken, and the two could not be on the same page because their priorities differed.

Burt Reynolds Died Broke and Bankrupt

After his marriage ended, Reynolds' funds also plummeted. He also lost about $3 million in commercial endorsements when the show "Evening Shade" ended. The actor even released a statement admitting to his financial setbacks.

He said he had a cash flow problem due to bad investments and several unpaid loans. He was even behind on his child support and alimony payments. According to reports, the divorce from Anderson cost the actor about $2 million; then, he was obligated to pay $47,000 for other divorce expenses.

Reynolds also bought his ex-wife a $1,9 million home, accumulating to about $9,000 in monthly mortgage payments. In addition, he also paid $11,000 for Anderson's alimony and $26,000 for his son's private school, jujitsu lessons, computer classes, and other activities.

The father of one was embarrassed to have his financial situation blasted all over the media. He went from being the biggest box office movie star with five houses, a bunch of horses, and traveling the world in a private plane to being broke.

But a different kind of reality hit him when he had to accept that he had run out of money and was forced to file for bankruptcy. Reynolds' close friend said he had advised the actor several times to file for bankruptcy, but he refused because he was afraid to face the reality of being broke.

Reynolds believed he would come out of his debts, but things only took a downward spiral. He ended up selling some of his most prized possessions, like his Golden Globe Award for the film "Boogie Nights," one of the cars he drove in "Smokey and the Bandit," and his clothes.

The actor also had to pay $3.7 million that he loaned from CBS; then his talent manager sued him, forcing him to pay $140,000. Reynolds then confessed that his accountant took $15 million from him, leaving him with nothing to fall back on.

The actor also auctioned one of the gold watches he got from Field. He later expressed how much he regretted ending things with the actress and called her the love of his life.

All together, Reynolds auctioned about 600 items he collected from his multiple movie sets. The actor managed to keep his Florida beach-front home, which he sold to a realtor that was kind enough to rent it to him at a low price. He suffered a heart attack and died in 2018.

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