Star athletes not immune from business disputes
By Pankaj Ladhar of Manos • Alwine P.L.
National Football League wide receiver Randy Moss has made his way around the league and the country. He has used his remarkable athletic ability to make great plays on the field, often out-leaping and outrunning defenders for big plays. But off the field, Moss has not proven to be quite as fleet of foot, running into several obstacles that have not been as easy to overcome as an opposing cornerback.
As you may know, Moss spends the offseason training and working out South Florida. The Miami Herald reported recently that Moss has now filed a lawsuit against the owners of a barber shop in which he invested.
According to a lawsuit Moss has filed in this matter, he invested $160,000 into a barbershop as part of an agreement that was supposed to see Moss’ investment repaid in addition to receiving up to one quarter of the revenues from the barbershop.
But Moss contends that the owner of the barbers shop initially tried to repay him with checks that were worthless. Moss says the owner then tried to engage in a shell game in which he changes the name of the legal entity that owned the barbershop in an attempt to avoid paying Moss.
It is great when athletes and other entertainers that have experienced some success decide to diversify their income streams by seeking out opportunities outside of the professional sports and entertainment industries. It remains to be seen what the court decides in thisa matter, but successful athletes and entertainers must tread carefully as there are many individuals who seem them less as business partners and more as meal tickets.
Source: Miami Herald, “Return to field by Randy Moss follows salon suit,” Jose Lambiet, March 18, 2012