Lomu finances hit by generosity, others' obligations
The NZ Rugby Players Association has established an independent trust, the Jonah Lomu Legacy Trust, for the benefit of his two young sons. With special audio feature.
Click the NBR Radio box for on-demand special feature audio: NZ Rugby Players Association chief executive Rob Nichol talks about the reasons why Jonah Lomu’s finances deteriorated
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The poor state of Jonah Lomu’s financial affairs was down to three or four reasons, the head of the NZ Rugby Players Association says.
The rugby star died unexpectedly last month, aged 40, from a heart attack.
The NZ Rugby Players Association yesterday announced it had established an independent trust, the Jonah Lomu Legacy Trust, for the benefit of his two young sons.
Chief executive Rob Nichol tells NBR Radio the organisation had been concerned about Mr Lomu’s financial affairs for a while.
He says there is unlikely to be a financial windfall following probate of the estate, for various reasons, but the organisation wanted to “look beyond those” to set up something “meaningful and trusted” for his sons.
Mr Lomu began his career before the players association existed, Mr Nichol says, and while he did very well as a player, more recently there were “three or four reasons” why the situation soured.
“One of them was his generosity.
“He took on obligations, both financial and otherwise, for others, at the expense of [wife] Nadene and the kids and the family, there’s no doubt about that.”
Mr Nichol says Mr Lomu’s long-term illness restricted his ability to work for the past 15 years, and he was not good at asking for help.
“He didn’t want to be a burden on others and I think that’s a significant reason as to why they’re in the situation they’re in.
“Finally, he was an optimistic guy – he would have been absolutely fine, I have no doubt about that whatsoever.”
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NBR Radio
Wed, 16 Dec 2015
Wed, 16 Dec 2015
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Lomu finances hit by generosity, others' obligations
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