Author Topic: NHL's Jack Johnson, $5mil/year, bankrupt. Thanks Mom and Dad!  (Read 2311 times)

Will

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NHL's Jack Johnson, $5mil/year, bankrupt. Thanks Mom and Dad!
« on: November 23, 2014, 12:17:33 PM »
In case you missed it, another highly-paid athlete has filed for bankruptcy:  http://bluejacketsxtra.dispatch.com/content/stories/2014/11/20/blind-sided.html

One Noisy Cat

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Re: NHL's Jack Johnson, $5mil/year, bankrupt. Thanks Mom and Dad!
« Reply #1 on: November 23, 2014, 09:16:49 PM »
    Both the NHL and the players association have financial seminars for rookies and they will be in players who went bankrupt to talk about their mistakes. But ultimately it is the player's responsibility. Unfortunately the costs involved for children to play hockey can create a real strong sense of "I owe Mom and Dad."
    But this case really seems foul.  Why give your parents total control in 2011 when you are signed with a top agent?  Why did his parents much deals with high interest rates and tough time repayments? Why is a Congressman-elect from another state one of these lenders?   Going bankrupt on hookers, blow, big mansions and fancy cars is understandable.  Real stupid but understandable. But this?

lhamo

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Re: NHL's Jack Johnson, $5mil/year, bankrupt. Thanks Mom and Dad!
« Reply #2 on: November 24, 2014, 03:26:58 AM »
The name the "business manager" who steered his parents into all these monetization contracts chose for his own business?

CYA Investments.

I bet he covered his own ass pretty well.  His client?  Not so much.

Just can't believe that people just turn their finances over to other people like this.  Or that parents would do this to their own kid.  Sickening.

MandalayVA

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Re: NHL's Jack Johnson, $5mil/year, bankrupt. Thanks Mom and Dad!
« Reply #3 on: November 24, 2014, 07:11:43 AM »
This guy's agent was Pat Brisson, who's top of the line (he handles all the big names in hockey--Sidney Crosby, Patrick Kane, Jonathan Toews, etc.) ... and he FIRED him?  I really don't have sympathy for anyone in this situation, they're all idiots.

Forcus

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Re: NHL's Jack Johnson, $5mil/year, bankrupt. Thanks Mom and Dad!
« Reply #4 on: November 24, 2014, 10:56:14 AM »
I kind of feel bad for him. I read the story and it sounds to me like a kid who became a hockey phenom at a young age and his parents controlled everything outside of hockey. They maintained that control when he became an adult and it really sounds like he didn't know better because he was never taught independence. The interesting part is it sounds like he's confronted reality now and cut ties with his thieving family. I know a lot of people (on a much smaller scale, of course), that wouldn't cut ties with their family over anything, even this magnitude of fraud. He'll probably be ok.