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Jack Johnson Reaches A Settlement With The Bankruptcy Court

from Aaron Portzline of the Columbus Dispatch,

More than two years after news of his personal financial crisis rocked the hockey world, Columbus Blue Jackets player Jack Johnson has reached a settlement in bankruptcy court with six of his eight creditors.

Johnson, 29, has liquidated two homes — one in Ann Arbor, Michigan, the other in Manhattan Beach, California — as well as a Ferrari valued at $125,000, and he will be, according to one creditor, “the lowest-paid player in the NHL for the next two seasons.”

As part of the agreement, filed by Judge John E. Hoffman Jr. in U.S. Bankruptcy Court in Columbus on Thursday, Johnson will turn over most of his $5 million annual salary from the Blue Jackets both this season and next, keeping only a negotiated sum for “living expenses.”

continued

Filed in: NHL Teams, Columbus Blue Jackets, | KK Hockey | Permalink
  Tags: jack+johnson

Comments

Primis's avatar

And the parents… will get no penalty and will go merrily on their way, free to figure out how they can scam someone or something else.

There’s no mention in court documents of Johnson’s parents, Jack Sr. and Tina,

Ugh.

Johnson said he was unaware that his parents were using the financial power of attorney he granted them to borrow millions of dollars at astounding interest rates, often as high as 24 percent. When a loan became too much to pay — especially during the offseason, when NHL players don’t get paychecks — other loans were taken to pay it off.

Can you imagine the kinds of pieces of complete and utter s*** his parents must be to have pulled that knowing that there would never be any personal reprocussions for them, and that they were completely screwing over their own kid?  They were simply playing their con as long as they could, knowing it would eventually have to end, and so they were just trying to wring every dime out of it that they could.

 

Posted by Primis on 11/12/16 at 10:12 AM ET

NIVO's avatar

downright disgusting. I mean how could you not trust your own parents. Of course you would do/help them in any way you could once you had financial peace for yourself. This is just disgusting, and embarrassing for him.

Posted by NIVO from underpants gnome village on 11/12/16 at 01:52 PM ET

NIVO's avatar

hopefully he gets himself another contract even if its for less for a few years just to have some kind of wealth after hockey. In his case, just slap it in banks/gov. bonds and dont let anyone touch it. No harm in eating ramen for 2 years.

Posted by NIVO from underpants gnome village on 11/12/16 at 01:53 PM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

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