Jack Johnson Files for Bankruptcy: Latest Details, Comments and Reaction

Columbus Blue Jackets defenseman Jack Johnson is a former first-round draft pick and United States Olympian, but the 27-year-old blueliner shockingly finds himself flat broke.

According to Aaron Portzline of The Columbus Dispatch, the Indianapolis native has filed for bankruptcy after a number of poor investments and decisions by his parents put him in a financial crisis.

Per Portzline, Johnson initially turned over control of his finances to his parents in 2011. What ensued was a bevy of follies that included Johnson's parents taking out as many as 18 high-interest loans in an effort to monetize his contract.

Those risky moves backfired, which resulted in Johnson being sued on three occasions. In addition to that, his parents reportedly made big purchases such as a house and vehicles without consulting their son.

Johnson told Portzline of his issues, "I'd say I picked the wrong people who led me down the wrong path. I've got people in place who are going to fix everything now. It's something I should have done a long time ago."

According to Portzline, wealth-management firm partner Gary Marcinick claims he has seen similar cases in the past:

"

These players are so young, and they have a lot of money coming in—so they're targets. They rely blindly, often, on the judgment of their parents or agents, and they sometimes have agendas that are not optimal.

Players find it difficult to question their agents. They don't even know the right questions to ask. And they're even more reluctant to question Mom and Dad.

"

Many have been taken aback by the alleged actions of Johnson's parents, including columnist Adam Proteau of The Hockey News:

Johnson is now estranged from his parents, and attorney Marc Kessler claims that he is on track to get his finances back in order, per Portzline:

"

Jack's financial situation was detrimentally affected by the actions of those who were trusted to handle his business affairs. Unfortunately, these were predatory lenders going so far as to use Jack's NHL contract as collateral.

In order to best protect his future, he's filed for Chapter 11 bankruptcy protection and he's enlisted a new group of professionals who are helping him get through these matters. Jack remains focused on hockey. He appreciates the support of the entire Blue Jackets organization and the fans during what is a pretty difficult time.

"

Kirk Irwin/Getty Images

Johnson still has three years and $13 million remaining on his current contract, according to CapGeek.com. He is coming off a solid 33-point season and should have no issue netting a fairly substantial contract by the time he reaches free agency.

Even so, this is certainly an extremely unfortunate and eye-opening situation. If nothing else, perhaps it is something that other young NHL players can learn from moving forward.

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