Jack Johnson Files for Bankruptcy. And It’s Not For Reasons You Might Think

I’m not sure if the following tale is sad or simply disturbing, but here it goes. The Columbus Dispatch reported this morning that Columbus Blue Jacket’s defensemen Jack Johnson has filed for bankruptcy.

Johnson has earned over $18 million in his nine-year career in the NHL, split between the CBJ and Los Angeles Kings, and is due $5 million this year, and as the Dispatch reports, not much, if any of it, is left.

"Almost all of the money is gone, and some of his future earnings have already been promised — which is why Johnson, surrounded by a new team of financial advisers and an attorney, signed his financial surrender."

Johnson himself helped shed light on the situation, but gave the bare minimum as to what the details are.

"“I’d say I picked the wrong people who led me down the wrong path. I’ve got people in place who are going to fix everything now. It’s something I should have done a long time ago.”– Jack Johnson, Columbus Post Dispatch"

However, the Dispatch, in true journalistic spirit, dug deeper and learned from a source that it’s Mr. and Mrs. Johnson – Jack Sr. and Tina – who are among, if not are the, “wrong people,” that helped Johnson get to where he is today. When Johnson signed his seven-year, $30.5 million deal in 2011 with the Kings, he signed a power of attorney which granted his mother full control of his finances. In turn, she borrowed at least $15 million in Jack Jr.’s name against his future earnings (this part is important) and took out a fair number of high-interest loans, which have sense defaulted.

That’s just the beginning of the troubles for Jack. For the whole story, go up and click the link to the article. It’s worth it.

For most people, it’s often hard, maybe even impossible, to think how a professional athlete (or any celebrity for that matter) who makes a grand sum of money can find themselves into a situation, and often times it’s simply a desire to live a certain lifestyle, which leads to a sad demise and fall. However, like I said in the beginning, it’s because of Johnson’s parents (maybe not entirely), the people that we are supposed to trust more than anyone in the world, who have put him in the situation. That’s where it becomes slightly disturbing.

This also isn’t the first time this week a story has come out about an athlete having money fights within his or her own family. Just yesterday, I was reading about Ryan Howard of the Philadelphia Phillies, and how his family has tried to take advantage of his status as well.

Regardless of how you feel about Johnson on the ice, you can’t help but feel sorry for the guy and hope things get resolved for him soon.