COLUMBUS, Ohio (AP) — Columbus Blue Jackets defenseman Jack Johnson has liquidated two homes and will turn over most of his $5 million annual salary over two seasons as he takes steps to settle a financial crisis that led him to bankruptcy court.
The Columbus Dispatch reports the 29-year-old Johnson will keep $246,000 for living expenses both this season and next under an agreement with some of his creditors. It was filed Thursday in federal bankruptcy court.
The newspaper says Johnson wasn’t available for comment and his attorney and agent didn’t return messages. Two creditors are still seeking an agreement with Johnson.
Johnson filed for bankruptcy in 2014, saying his finances fell apart under his parents’ management. He said creditors and financial advisers exploited him through fraudulent transactions and predatory lending.