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A fund manager steals nearly $2 million from an NHL player

 Auteur: jwilliams
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A fund manager steals nearly $2 million from an NHL player
Credit: Capture d'écran / Screenshot
Everything can happen very quickly when a young player enters the NHL. Fans, contracts, travel, it can all be difficult to manage.

It’s not uncommon for players to deal with managers to manage their finances and make sure it’s well invested for the future.

While most stories seem straightforward, Tyson Nash’s is quite fascinating for several reasons.

He played 374 NHL games, for a total of 64 points and 673 penalty minutes. But it’s off the ice where the action is.

His money manager embezzled and then stole a lot of money from him. Chris Pronger, the former star defenseman, told the story in a “Finance Friday” video capsule.

Nash is obviously embarrassed by the situation, but it’s a very real risk.

At one point, Nash was supposed to have close to $2 million, but ended up with $200,000.

He fell into depression, but it was his partner who pulled him out of the darkness.

This story has a happy ending, because Nash and his partner are doing just fine. The former player has made better investments and even educated himself to make sure he doesn’t get screwed again.

The players are focused on their game, their practices, their families and team activities.

They know that money goes into the bank account and want to make sure they don’t spend it unnecessarily.

After all, an NHL career is short and you have to think about the future. To that extent, it’s natural to turn to someone who can manage it all. But you have to make sure that the person or company in question is doing what it takes to make the money grow, not disappear.

This story is reminiscent of Jack Johnson. His parents stole a lot of money from him.

Overtime

– See the Habs’ prospect in action.

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