On November 20, 2014, the "Columbus Dispatch" reported that Johnson had filed for Chapter 11 bankruptcy protection, claiming just $50,000 in assets against $10 to $15 million in estimated debts. Shortly after signing his first major contract, a seven-year, $30.5 million deal with the Los Angeles Kings, Johnson granted his mother, Tina Johnson, power of attorney over all his finances. Over the next few years, she and Johnson's father, John II, took out several large, high-interest loans against Johnson's future earnings, a lending practice known as "monetizing," and spent the money on homes, cars and travel.