It all started with Aaron Portzline's investigative report into Blue Jackets defenseman Jack Johnson having to declare bankruptcy after his parents blew is money.
Over his NHL career, Columbus Blue Jackets defenseman Jack Johnson has earned $18 million. In 2011, Johnson signed a seven-year, $30.5 million contract. And on October 7, Johnson filed for bankruptcy.
While the parents spending their kids money is not an isolated incident, the magnitude of Jack Johnson's betrayal is spectacular and astonishing. Also very surprising is a player declaring bankruptcy during his career (at the age of 27). Brutal and nuts.
Here is a summary of the coverage of the story:
1) I address the layers of this case with Forbes: "Bankruptcy Of NHL's Jack Johnson: Another Sad Case OfParents Blowing An Athlete's Money"
2) My interview of Aaron Portzline of the Columbus Dispatch who broke the story.
3) My interview of Andrew Scott, sports agent at Octagon.
If you're a player, get a good agent and a good financial advisor. If your parents are Goldman or Sachs, use someone else. No family.