All too often a former professional athlete is faced with financial struggles despite making millions during their career. Former NHL player Chris Simon has been forced to file for bankruptcy as his debt climbs over half a million dollars.
According to a report from the Ottawa Citizen that shares information from court documents in a family court dispute, Simon has fallen behind on three years of child-support. In total, Simon owes $128,875 in back child-support. Simon earned over $15 million in salary during his 20-year NHL career but has asked the court to forgive him for falling behind on child support after claiming he has not been able to earn a steady income after having his hockey career ended due to injuries in November 2015. In addition to knee injuries, Simon also shows symptoms of CTE. That should not be a shock considering his enforcer role in the league that resulted in over 100 fights and 1,824 penalty minutes over the years.
“I have no ability to pay the alleged arrears or enter into any form of payment agreement,” Simon said in an affidavit filed with the family court office earlier this month. “My financial situation is bleak.”
Simon has signed over power of attorney to his mother and his reported gross income in 2016 was $3,836.13. Simon has a cottage in Ontario that is in foreclosure with $300,000 owed on the property. Simon has had a bank file a civil suit against him for the cottage, cars, boats and an ATV owned by him. In addition, Simon also has $25,000 owed to a book publisher for an advance on a book that was never written. He also owes $1,444 for cellphone charges and $30,000 in back taxes. Simon also reportedly has credit card debt of $33,189 and over $18,000 on a loan for a development deal.
Simon also faces a claim from his first ex-wife that he failed to report his income properly when arranging to pay a reduced child-support payment after moving to Russia to play in the KHL. Simon has since separated from his second wife, with whom he has four children.
This all sounds too familiar a story for former athletes. Poor money management seems to have caught up to Simon in the worst of ways and it’s hurting those he owes money to who now have to pay for his mistakes.
