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Australian motorsport legend Dick Johnson has revealed he is broke after losing a staggering $9.1 million. A sporting icon who should be living in the lap of luxury following a famous 36-year racing career, the five-time V8 TouringCar champion is living off $300 a week and has not drawn a wage from his renowned race team Dick Johnson Racing (DJR) since 2008.
Johnson, 68, has also spoken for the first time about his ailing health. "I lost nearly everything I owned,'' he said. "My house, my factory, my health and my famous cars. Even my dignity. I was conned out of $9.1 million.''
Failed business deals forced Johnson to mortgage his $2.1 million property on the Gold Coast in 2008 along with the $1.3 million factory that contains the most successful team in the history of V8 Supercars.
The three-time Bathurst winner also lost $4 million in savings and was forced to sell the race cars that helped make him one of the most iconic drivers in Australian history. "They had to go,'' Johnson said. "I was broke and busted and left without a choice.
"It hurt then and it still hurts now. I'm sure all this drama will eventually kill me. "It might floor you to know I haven't drawn a wage from my business since 2008. Some people think I am a rich racing legend worth a fortune.
"But my wife and I have been living on less than $1200 a month. That's for food, bills and petrol. Sometimes I have enough to fly my wife to races to watch our son Steve. "My only income comes from the factory space I rent to my team. I have nothing else. I lost it all in a dodgy deal.''
Johnson's sad tale began in 2005 when major sponsor Westpoint collapsed, leaving him without a promised $12 million in sponsorship.
The man who became a household name in 1980 when he was wiped out by a rock at Bathurst formed two businesses - V8 Telecoms and FirstRock Mortgage Centre. Both companies collapsed in 2007, forcing Johnson to sell his assets to pay out creditors and save his famous race team.
"I have had many lows in my life, none more so than walking into a hotel to plead with a bunch of knockabouts to take all I had to give to save my team,'' he said. "It was damn right embarrassing and completely terrifying. Thankfully, they accepted my deal and allowed my team to survive.''
Johnson said the ordeal has made him an "old man''. "I am now 68 and I look old beyond my years,'' he said. "I am not a healthy man. The reasons stem back to that period of my life. I couldn't sleep, I couldn't eat and I constantly felt sick in the guts. From that day I have constantly battled through pulsating problems that have made me an old man. I was never a big drinker but I turned to the bottle to help me sleep and forget my troubles at night.''
The Ford warrior was forced to sack his son, Steven, as a driver this year to make it to the season opening race. Johnson's iconic race team is now on the rebound, with the team securing one of the hottest young drivers in the sport. Things are looking brighter, with several new sponsors ensuring his team's survival.
