From Millionaire To Bankruptcy - The Jack Johnson Story
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- Опубліковано 12 сер 2020
- On October 7th 2014, just three years after signing a 7 year, $30.5 million contract, former third overall pick Jack Johnson announced that he had filed for Chapter 11 Bankruptcy. The way in which he reached this point though shocked not only the entire hockey world, but Jack himself...
This is the story of Jack Johnson's journey from millionaire to bankruptcy!
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And today he is a Stanley Cup champion! Up yours, Jack's parents!
I think he was celebrating with the Cup wit his dad though. I could be wrong, but the video I saw looked like his dad.
@@Nay-kp6uu Well looks aren't the truth, maybe just the father of his wife
Update: won the Stanley Cup tonight!
Little update: Jack Johnson is now a Stanley Cup Champion. As an Avalanche fan, I am pleased with what he brought to this team. He wasn't lighting it up on the score sheet, but he was a decent player. He was smart in his own end, he didn't turn it over too much, and he brought some grit. Jack Johnson also stepped up in Girard's absence during the playoffs. He deserves to enjoy the Cup with the Avs
He should sue his parents for swindling
BosoxnationI972 his parents lied to him and tried to stop him from filing for bankruptcy
BosoxnationI972 yeah both at fault
BosoxnationI972 For real. How about KEEP your own money and if your parents need some, GIVE it to them. Never ever sign your life away like that. It’s just like Dane Cook’s brother stealing millions of dollars from him.
Kane Garvey and know your parents, like my dad works related to business and so does my step mom (banking) they aren’t greedy or dumb with money
OfficialMike Mike exactly man
Glad he was able to get back into on his feet. I had no idea
Especially since he's overpaid in Pittsburgh.
Wow. His parents suck.
You must TRUST - The People - You share YOUR DOUGH with !
Joe Hung everybody is over paid.
@@joehung1552 ur a clown. Ur opinion is irrelevant
Happy for his Stanley Cup today with Colorado. Congratz Jack!!
I thought this was going to be a video about him being a young kid who signed a big contract for more money than he knew what to do with. Then made a bunch of poor financial decisions and blew a bunch of it but it'd kinda be understandable, cause he was young and had more money than he'd ever seen before. But nope. The guys own parents royally fucked him over and then continued to rake him over the damn coals while he was being the responsible one and trying to fix their mess and start his own family. I couldn't imagine doing something like that to my kid. Like I get they put him through hockey in the first place and it'd be nice if in return he did buy them a house or something but you're not fucking entitled to that. It's his own hard work and dedication that got him to the NHL level.
You would be surprised. Many Canadian hockey parents that condition their sons toward NHL careers invest substantial amounts of their own money, and their own ambitions for professional success onto their children. They expect a financial repayment from their "investment." These are clinical narcissists who feel that they literally own their children, as they produced them into being. It is a dark element of human psychology.
@@evilsciencelab3854 100% Correct.
@@evilsciencelab3854 really? Is their an article on this I can read? That's fn insane.
Zack Demianczyk if you look up narcissist parents as a starting point and then whittle down to sport or theatre parents with the condition you’ll get a good idea about it. As a coach and player I’ve dealt with parents both from a sports side and theatre. It’s horrendous
@@zacharythomas5839 It happens way more often than you think. For Canadians it can be with hockey parents. But it happens with a lot of different things. Theatre parents, parents who put their kids through beauty pageants. Hell you want a real good example look up what happened with Kobe and his parents.
Jack should sue his parents for fraud.
I am sure he spoke with legal counsel. It is hard to prove, especially when he could have had the POA revoked. I firmly agree with you BTW. I think he probably decided to make the best of a bad situation and pay off the debt, sign a new contract and rebuild his finances and look after his family
@@matthewwilliams5619 I think so, too.
He should be PROUD - of His Parents ! They taught Him - How to pick a Sport - That Could be a / and turn Profession !
Holo Holopainen learn basic English grammar before making dumb comments bud.
@@jug6290 Thanks / Merci ! How is Your French ?
I’ve been playing hockey for 12 years and this doesn’t surprise me at all hockey parents are actually the worst
Ehh sucky people are sucky people. I was a goaltender throughout highschool and my parents always supported me and taught me the value of a dollar. Hockey isn't cheap to play.
your experience, my time playing hockey i saw nothing but great parents who were there for there kids all the time and usually made friends with everyone's families every time. Hockey in canada and the northern states is kind of a "club." usually the parents are affluent or have some sort of money and everyone kind of knows each other at higher levels!
I remember reading the article that first mentioned this and it broke my heart. I can't imagine my parents doing that to me or anyone and I felt so bad for Johnson. He may not be a great player, but he's serviceable and solid. Shame on his parents for what they did and I'm happy to hear and see Johnson doing well now!
In my region, you only have your family. I can’t imagine all the emotions and pain he’s been through. Not just losing all of your money, but basically losing your parents as well.
I love my mom and dad, but if they did that I would never speak to them ever again
Trust US - We are Your Future !
Holo Holopainen tell that to him
@@greenlukesky4615 You play Hockey - We INVEST Your Money ! To have an Better Future !
Holo Holopainen I get that but the point is that he trusted his parents and they obviously blew it. I totally agree with you
I don't think Jack Johnson speaks to his parents
Congrats on the Cup Jack!!
Ive met Jack a few times. He really is a great guy. He didnt deserve that.
Before the video I thought "jeez, these players aren't the smartest of the lot", but now I feel really sorry for Johnson. These must be one of the worst parents I've heard of. Yes, they brought him up and all, but what they have done is disgusting. Glad he is still going to be fine with all the money from a current deal.
it would be hard to go through life thinking only the worst of people though. These discussing parents also put a lot of money into giving Jack the opportunity so to suddenly not trust them when he signed his big contract at a young age would be a bit odd. Who of any of us would expect such terrible things from our parents?
The dangers of signing POA documents granting that kind of power to your parents. I actually have used this example in my work when advising clients on the risks of trusting family with that power and authority.
This!!!
I’ve done the exact same thing lol
@@cbjm36 You aren't the first and unfortunately not the last. Hopefully you recovered from your situation and didn't have the same issues.
Matthew Williams ooh no I was saying I use the JJ example when advising clients lol
@@cbjm36 Ahh. Got you. This and the Mike Tyson examples are some of the craziest situations involving POAs being abused that I have ever heard of.
The Jack Johnson Story: What Happens When Narcissistic Parents Take Control Of The Finances
Even though he might not have produced the points some had expected, the A on his jersey (at more than one team) shows that hes a leader and somebody whos helped the teams hes played for in other ways. The points arent everyrhing in hockey, succesful teams need leaders and this dude pribably is one.
An he is a frigging defense man..a great def guy is way better than points..I'm a huge avalanche fan a got maker as a scoring mad rookie .yet also need def man that stop goals.
Let's hope he can stay in the NHL and get some money before retiring.
His parents are absolutely disguisting.
He's fine now once again a millionaire
@@shibbyjim yay! is he still playing?
Booged yeah he’s signed for like 3-4 more years at 3.25 million a year. I know this story sucks but he isn’t gonna have to work a day in his life again once he retires
Flash Majora thank god, he shouldn’t have to after what he’s been through, hopefully his parents get what they deserve and aren’t apart of his life anymore
@@FearedTheory he'll also get another fat contract when he's a free agent
I heard about this just a few days ago now I know what happened but instead of research I got to watch a video from one of the best Hockey youtubers!
Great to see him win a cup. Crazy story
This story blows my mind, because my mom used to know Jacks mom and always said she was decent.
Well some people are good at putting on a front for the public, when in reality theyre awful at home. My mom is "one of the nicest hard working people i know" says a lot of people, but at home, different story.
The worst people often appear the nicest.
Everybody has 3 faces, the first, is the one you show to the world. The 2nd, you show to your family and friends. The 3rd face, is the one you never show to anybody.
Many people said the same thing about Bernie Madoff
Damn. Damn damn damn. Now I don't want Pittsburgh to get rid of him. Poor guy.
It's ok.... if they buy him out he still gets a lot of money for not doing anything! So that makes it better for both parties because Penguins fans are tired of watching him do "something"
@@adamrichmond6348 Well, I'm not your average Penguins fan tbh. I still believe Murray was the correct choice over Fleury at the time, I still believe Letang is overhated for his efforts, and I believe that Jack can return to form if used the right way.
It was heartbreaking but MM was the only real choice then. You can't let a guy that won 2 cups as a rookie go unless it was for a top 3 pic or young stud player (at the time it was reported the jets were not too happy with PL but they already had Hellabuck). The Penguins may over rate Letang (I personally think hes pretty good) but let's be honest, that D without him is sketchy at best.
@@adamrichmond6348 It's a matter of if you wanna be optimistic about the team or pessimistic. We have star power, in theory we should be a powerhouse, it's just a matter of putting it into action.
Had the pleasure of working for the Jackets for a time and be around Jack Johnson. The most genuinely nice and humble athlete I have ever met, and one of the most genuine people I have ever met. Didnt just say "How is it going?" as a pass by greating. He was genuinely asking how you were, how your parents were, how your college classes were going, etc.. Glad he got that, we will say rather generous, contract in Pittsburgh to bank for retirement.
My father was a cheapskate leech as well. Haven't talked to him since May 18th, 2017.
Sorry to hear man.
Did You make any - to regret ? That You let Him have ?
Holo Holopainen
$4k USD.
Good thing he made back millions from his music career
Meg took 80%
are you thinking of jack white?
reiko57 No, Jack Johnson is the name of a musician, a solo vocalist and guitar player.
reiko57 He actually has an interesting story as well. A surfer, he grew up in Hawaii then moved to Santa Barbara California and attended UCSB, where he allegedly got his break after a bootlegged recording of him playing guitar on the beach was circulated throughout the local surfing community.
i laughed at this comment. Bravo good sir.
Such a Sad story, that a son trusted his lively hood to unscrupulous, greedy parents. Shame on them!
I hope he got the beach house back.
I guess money is the root of all evil, with parents like his. Congratulations to him on his marriage, and I’m happy to hear he’s with Pittsburg and under the care of trusted financial professionals.
Thanks for sharing such a cautionary tale....
Absolutely wild, if I was making that much money my parents would ask for nothing and they would be getting everything, hard to imagine parents doing this to their kid, makes me really appreciate the wonderful people who raised me
I have alot more respect for him now
At least he didn’t give up, props for real that takes a lot
His parents should have to put on hockey gear and fight him at center ice sometime
I'd pay to see that. I'd give the money to the man's creditors myself.
Best comment I've seen
Make them fight Tom Wilson and Matt Tkachuk. The first time in my life I'd root for those two goofs.
@@theevilascotcompany9255 I'd like to see Tom rag Jack's father around like a shitty towel lol
I wanna see them fight john scott and paul bissonette
me before watching this video :
Matt Murray has a higher chance at scoring than Jack Johnson...
me after :
uhh... damn i like him now
Still true tho 😂😂
AND NOW HE'S A STANLEY CUP CHAMPION!!!!!!!!!! WAY TO GO JACK!!!!!
Did I know about this? Honestly, yes, but I did not know the full extent of how badly the Johnsons blew all of Jack's money. Where I come from, filial piety is considered a virtue, where fully grown children return the favor to their parents for taking care of them. However, some parents (I said some, not all) take this as a form of entitlement that everything their children make, they deserve a cut, using "filial piety" as their pretext. This is especially true for parents who have narcissistic personality disorder, and the sad thing is that NPD can be hard to diagnose, so children of narcissistic parents often wonder why their parents are never satisfied with what they have, unaware that their parents are only using them to prop up their narcissistic needs.
The guy is a battler still in the game ...its a tough tough game on the ice and off the ice. Lots of victims and short disappointing carreers , most never make it. Congratulations to a good player and still battling and probably all the wiser now.
wow, I didn't know that story! sad that these financial distractions may have impacted his on ice performances
I remember when this new first broke. His parents were so bad, some of the loans and spending was done against FUTURE earnings...money that he hadn't even earned yet but might earn in the future.
I'm a jackets fan and we had a bad breakup but I always liked him. I used to to do security at nationwide arena. Really nice guy
That's just sad, I hope justice is served and he rightfully sue's his parents
First contract just 850,000. I'll take it. But in reality I never knew parents that would do that to their kids in sport.
I hope he recovers most of the money he so deserves and the parents seek counseling and everyone can heal.
Very sad story.
Man, now I see why Johnson has a 3.3x5 year deal in Pittsburgh. Yeah it may be a bad deal, but now I know why he took that deal
It's not a bad deal. He's just not that good.
Career: -114, 47% Corsi, 46.7& Fenwick. Those aren't stats you want to see on a defenseman, or any player for that matter.
He took the deal because it was offered to him fym
it’s a great deal for johnson. for the pens... not so much.
I never knew about any of this. Thanks for the in depth explanation. I am diving pretty deep into a rabbit hole of your videos now.
your videos are getting better, this was pretty great
His parents saw him as a personal slush fund first, and then son second. Terrible feeling that would give oneself. Jack needs to sue them and try and have them arrested, then get a restraining order. Those two people have done more harm to him than anyone else in the entire world. They are literally his worst enemies and always will be.
Here's a sad fact, something I witnessed when I went to redwings @ kings games. Jack's parents would show up in Redwings jerseys. Nothing branded with their sons name.
Damn really
@@EpicEric2002 yes, I only ever saw his little brother wear his jersey. The dad always looked arrogant. They would show the family in the stands on the big screen.
@@peterpuck10CA damn I feel so bad for him like parents are supposed to be there for u
@@EpicEric2002 tell me about it. Poor guy is barely recovering from money problems. As far as the parents, how does one recover from that damage. Smh.
Damn... thats not right at all.
This why I hated hockey at a young age love it know but it always felt like I was playing for my dad to someday make him rich..jack your a beast bro 💪 he's still doing better than anyone chirping his career
Some parents have a "you owe me" mentality and essentially are pimping out their children. It's one thing to motivate your children to reach their potential, but not for the parents' gain. I'm sorry you had to go through that, and I'm glad Jack has the support of his wife and (hopefully) trustworthy financial advisors.
He was a great asset to the CBJ lineup during his time in Columbus and I was, for one, sad to see him go and am even more so saddened by this story.
It's bad enough when you hear stories about how players agents took advantage of players and left them broke (the most egregious example being what Alan Eagleson did to Bobby Orr), but one would think that the people you should be able to trust are your parents. That they would treat him like the Jack Johnson Finance Co. to fund their lifestyle is abominable. Granted, he's an adult and had a couple of years of college and you'd think he'd know how to manage his money or should have realized what was going on. He probably was so into his career and felt confident his parents were acting in his best interests, and no doubt they were very convincing with their charade.
Great video, hadn't heard about this before
I remember seeing him play in Columbus and met him later that night. One of the nicest guys I ever met. I always felt terrible what happened and really hope he's doing much better
Didn't know. Informative 👍
Honestly this needs to be shared to the entire Penguins fan base. really sorry to hear that Jack Johnson has had to go through all this stuff. He had a decent year this season but his playoff performance and pairing with Justin Schultz was hard to watch as a Penguins fan.
Great vid! Subscribed
Great video
This is really sad. These young talented kids are so unprepared to deal with so much money. A lot of the time it’s their agents and financial advisors that are trying to fleece them. Can’t imagine it being your own parents.
Dude, they were all in it together.
This happens more than you think.
As a Blackhawks fan, I am ecstatic to have this guy during our rebuild. When Kane and Toews leave during this rebuild the young locker room will need a guy like this who hits, sticks up for his teammates, occasionally flashes some of the offensive ability that caused him to be picked 3rd overall many years ago and has been through many severe life experiences. I know we're trying to lose to get Connor Bedard, but acquiring this guy creates the appearance at least that the Hawks aren't tanking it because he is an indisputably valid positive pickup. So, no league investigation.
Stanley cup champion whit the Avalance. Good for Jack! 👍
wow i feel for this guy man thats a kick in the ballz
Lord!!!I two years ago, I sold his parents a Bed and Breakfast near State College, PA, where they have followed their younger son who plays Hockey for Penn State. I wondered why they had such difficulty finding financing and ended up with some third party from Califiornia co-signing the deed. VERY strange transaction....now I have an idea why.
Congrats on winning the cup!!!! You're a stud. Maybe you could put Flynn Johnson on the cup or something like this
Pretty sure his best friend (sid) had something to do with him getting that 4 year deal in Pittsburgh.... in which he’s wayyyyyy overpaid
Thinking yeah. 5 years though, not 4.
To Captndarty: GOOD ONE,LOL!
His parents affected his play , I'm sure.. he could never focus on playing.. OMG THAT REALLY SUCKS.. I HOPE HIS Parents get theirs
Damn thats just heartbreaking...
Great parents!
Where Do You Get Parents like that ?
We love him in Colorado! GoAVSGo!!!!!!
Sign your own checks as the saying goes. He would have been better off giving his parents 2 mil and telling them there's no more where that came from.
Crazy story--I had no idea.
As a Penguins fan I'm obviously glad that Jack Johnson was able to get back on his feet and I think it's awesome that Sid brought him there in order to get him some money, but my god is he a terrible defenseman. Bringing JJ to Pittsburgh was the biggest mistake in Sid's career
I knew some of that but not all the details. That's so crazy and so sad. I'm hoping he isn't still in contact or very limited contact with his parents
Yes jacks my favorite player with the kings and till this day idk why though
When people tell me family is the only thing you can trust in the world... those naive souls. It's not bulletproof. It's a concept you place trust in just like everything else in society. People will be people. Every man for himself.
When I was young I hated credit card seeing my mom get into issues wit it make life hard growing up in Nebraska You have opened my eyes I saw this 18years ago When I got my 4 card .its all good I’m in a good place now it all thanks to jon@creditpatchup.com Fico is now 786 got two card capital one platinum and Amex Cash.i will apply for JetBlue plus in september all thanks to jon@creditpatchup.com now I can cover for all my bills 😜😜
HE JUST WON THE STANLEY CUP OMG
Wow, this is some of the most disgusting things I've ever heard. If they are true.
Really feel for Jack, he got a chance to live rich for the rest of his life and still working with the things he loved the most- but got screwed by his own parents.
Greed..
It doesn't matter because he will lift the Stanley Cup soon!
IT HAPPENED
I swear Jimmy Rutherford just gave this guy a big contract on Pittsburgh because he felt bad lmao
You should always trust your parents -- "but never blindly trust anyone"
including your parents. I've seen brothers and sisters become lifelong
enemies over very little money over estate hassles/ wills etc. When there
is money on the line, it turns people into strangers. You need to have lived
awhile to understand this.
These young kids should go to a school, and be educated on how to
find trustworthy and independent counsel.
Great signing Rutherford
i cursed him since he didn't want to sign with the Canes. laughed when he signed that huge contract. and now i'm crying for him.
Nice video . Never knew this . Nice parents. Guess you can’t trust anybody . 🤷♂️
Holy shit! On top of ALL that he was playing for John Tortorella?! That poor bastard.
Wow. What an ordeal. Had no idea.
Talk about stealing and family woes. This is unfair for Josh to experience
like the info - hate the stock footage
Who else is here after he won the cup?
By the time his Pittsburgh contract is over he should have a couple million in the bank and he'll only be 36 he could stretch out his career to 40 or longer playing overseas.
...to PTO...to pity contract...to STANLEY CUP CHAMPION!
Jack Johnson needs to do the only thing he's good at..... *hit hard and shoot hard*
sounds dumb but he's gotten away from that
I honestly believe he can turn around his career if he does that
a comeback is not impossible for him
I've also heard the reason he went back to college after the canes drafted him was because his parents didn't want to live there
Yea and as a canes fan this was one of the worst draft picks ever. got nothing from a 3rd overall pick which could be the reason why the hurricanes sucked for so long with shit like this happening. Fuck those parents
Then he became a millionaire again...good thing he ditched his parents
Glad Jacks enjoying that winning culture in Pittsburgh
sad, i hope the rest of his life is great...
Lol Jacks uncle used to come into my moms work all the time and talk to her.
I have heard of people being taken advantage and losing all their savings. But this takes the cake what his parents did to him. To bad they did not go to jail for it.
Forreal 😂
He's now in the Stanley Cup Final. Wow.
I remember when this story first came out when jack was still with the jackets. I’m still in shock of what his parents did
I'd flat out disown my own parents and have them arrested on the spot if they pulled something like Johnson's parents did.
That's absolute BULLSHIT
The 1 downvote on this video must be his parents :)
Similar story happened to my cousin
His parents blasted through millions of dollars from an inheritance...so they started going through my cousins inheritance(their own son) eventually there was nothing left, so they asked my cousin for 10k just so they could get back on their feet....they took the money to go to Italy for a vacation.....my cousin doesn't speak to them anymore and neither does the rest of my family.
You gonna do more streams ?