The story of Jack Johnson will not have a happy ending. If you recall back in 2014, the parents of the Blue Jackets’ defenseman — Tina and Jack Sr. — were using an attorney he gave them to borrow more than $10 million in high-interest loans.
Blue Jackets defenseman will be the lowest-paid player in the NHL after bankruptcy settlement
Jack Johnson will forfeit two years of salary.
Aaron Doster-USA TODAY Sports
Ultimately unaware of his parents’ dealings that estranged the family, Johnson had to file for bankruptcy protection back in Oct. 2014. Just last Thursday, more than two years after the original story broke, it was revealed that Johnson has reached a settlement that will cost him most of his annual $5 million salary for the next two seasons.
Johnson’s parents, unnamed in the recent settlement, used the borrowed money to buy a pair of cars and used upwards of $800,000 on home improvement.
In the settlement, Johnson has had to liquidate a pair of homes in Ann Arbor, Michigan and Manhattan Beach, California along with a Ferrari valued at $125,000. According to a creditor, Johnson will be “the lowest-paid player in the NHL for the next two seasons.”
Johnson will be allowed to keep $246,000 for “living expenses” but will be the NHL’s lowest-paid player thanks to the settlement. The Blue Jackets’ defenseman is in the last two years of a seven-year, $30.5 million deal he signed with Los Angeles back in 2010.
(via The Columbus Dispatch)
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