Jack Johnson Is Bankrupt After Leaving His Parents In Charge Of His Finances

http://prohockeytalk.nbcsports.com/2014/11/20/jack-johnson-filed-for-bankruptcy-parents-allegedly-took-advantage-of-him/

ProHockeyTalk- Sources close to Johnson have told The Dispatch that his own parents — Jack Sr. and Tina Johnson — are among the “wrong people” who led him astray financially.In 2008, Johnson parted ways with agent Pat Brisson, who represents some of the National Hockey League’s biggest stars, including Sidney Crosby, Patrick Kane and Jonathan Toews.

With no agent and little knowledge of how the financial world works, Johnson turned over control of his money to his parents.

Tina Johnson borrowed at least $15 million in her son’s name against his future earnings, sources told The Dispatch, taking out a series of high-interest loans — perhaps as many as 18 — from nonconventional lenders that resulted in a series of defaults. Johnson has cut off all contact with his family, a source said.

Have you heard of any Jewish agents with the last name Johnson? Exactly, neither have I. That's why Jack Johnson is kind of a dummy. It's pretty cynical to think that you can't trust any one with your money, but it's also quite true. The only people you should trust with your hard earned paycheck are people that are contractually obligated to oversee your wealth. In essence, you should only trust people whose wealthy is directly correlated with yours.. Agents may be slimy, no good assholes, but those are the exact traits that make them good at their job. You think athletes like having agents with a hand in their cookie jar? Hell no, but their greed makes sure you aren't bankrupt halfway through a lucrative NHL career. That's why you go with a Rosenbloom, or a Goldberg, or a fucking Seth Hebrewstein.

Were Johnson's parents entitled to a certain share of his contract? Probably. He wouldn't be where he is at in his career had his parents not shelled out the dough for equipment, camps, gas to get to tournaments, and most of all, an egregiously large time commitment. That's why the first thing you do is make a substantial financial investment upon signing the contract. Buy them a car. Buy them a house. Throw two million at them and tell them to have a nice day. Just do something that shows you are appreciative. That's day one professional athlete protocol. At the end of the day, they helped you get there, but they didn't lace up the skates. They didn't bust their ass to get to the top of their profession. They weren't drafted third overall. 

Shouldn't you have some idea of what kind of people your parents are? You spent your LIFE with them. You have to know if your mother is capable of spending $15 million and putting you in the poor house. Someone that loose with their purse strings clearly has a character flaw. You don't just become a financial fucktard at that stage of your life. How about them just lying about inheritance money and directing his attention away from defaulting loans? I don't think you become that shitty of a parent, that brand of dishonesty is reserved for the lifelong morally corrupt.

Soooo many questions. How long did it take them to spend this money? Was Jack not even checking his balance? Clearly he didn't communicate with them on a regular basis. Poor guy was just living the life of a humble NHLer. Meanwhile his parents are ballin' out and poppin' bottles all over Eastern Europe while their mansion is being renovated. I imagine him trying to buy a round and the bartender telling him his card is declined. "Nah bro, there is like 10 million on there". Nope, worst parents EVER.

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