Sordid details emerge about Jack Johnson's thieving parents.
One of the sadder stories we have heard about this season is the unfortunate tale of Jack Johnson. After making no less than $15.5 million over the past four seasons in the NHL, Johnson was forced to file for bankruptcy this year. It was discovered h
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One of the sadder stories we have heard about this season is the unfortunate tale of Jack Johnson. After making no less than $15.5 million over the past four seasons in the NHL, Johnson was forced to file for bankruptcy this year. It was discovered his parents, Jack Sr. and Tina Johnson, had been living a lavish lifestyle with their son's money, and essentially spent every penny he had on themselves.
According to Deadspin, more sordid details have emerged as to how far his parents actually went to take advantage of their son. The two apparently spent money on houses, cars and even diamonds, all while further plunging their son into debt.
On Sept. 9, 2008, Johnson parted ways with veteran CAA agent Pat Brisson. This was due to the influence of his father, who put intense pressure on Jack to fire the best agent in sports.
Johnson hired Jay Miller as his newest agent, and after Miller attempted to warn Johnson to be more careful in regards to his parents’ involvement in his financial holdings, Deadspin reports, “Johnson's parents came into his office the next day and told him he was fired.”
He then surrendered complete power of attorney to his parents.
On Jan. 8, 2011, Johnson signed a seven-year contract extension with the Kings worth $30.5 million.
Very soon after the extension Jack Sr. bought a Ferrari F430 for himself. (Pictured Below)
Among things they spent Jack's money on were hundreds of thousands of dollars in upgrades for one of their houses in California. They also upgraded Tina's wedding ring to a six-carat diamond, an insane rock.
Even with Jack Jr's money flowing in, the two needed even more money to keep up with their ridiculous spending.They signed up for multiple predatory loans with crippling interest rates as high as 12 percent. Below is a picture of a promissory note in which the two borrowed more than $1.86 million dollars in single loan.
They may have also forged his signature on some of these forms, as they do not seem to match his original signature.
This is Jack Jr's actual signature.
This is what is on the forms.
Possibly the worst betrayal in all this hit very much closer to the heart. Johnson expressed his want to get married and start a family, which would have required him to become financially independent from his parents. Deadspin’s source stated his parents "tried to slow down the engagement, advising Jack not to act so soon."
Johnson filed for bankruptcy on Oct. 7, and hasn't spoken to his parents since. He claimed assets totaling less than $50,000, and debts in excess of $10 million. According to Deadspin's source, just before Johnson filed, his parents attempted to convince him to take one more loan to keep his head above water.
These people really do make me sick. Although he was a grown man, and was capable of making adult decisions, you should never have to think twice about trusting your parents.
We hope he can get himself out of this hole his parents put him in.