Quote (Killingyouall @ Jan 12 2021 07:00am)
Apparently it is a scheme to avoid paying more of his debts.
My friend is an accountant and said his plan was probably to finalize his bankruptcy proceedings before he plays again.
Since he has formally declared bankruptcy and has far greater liabilities than assets he would be handing over most of his salary to debt collectors.
He is not losing much money by nulling his contract. The strategy is to save his body so he can play a few more years after his bankruptcy is settled.
I am not sure if/how this can be challenged but that is the reason. He had a binding contract, so maybe he can be forced to play.
Quote (StayPositive @ Jan 12 2021 07:07am)
What kya said, if he keeps playing now he owes every penny he every makes to creditors, forever. If he tears up his contract and declares bankruptcy, he could potentially make a bit of money again in coming years.
ahh i suppose that makes sense.
altho i dont seem to remember jack johnson doing that. but then again, probably different types of bankruptcy