About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

LOG IN
LOG IN


1 Agents @ Sports L. 1 (2022-2023)

handle is hein.journals/agnspdl1 and id is 1 raw text is: Winter 2022 Vnl 1 TCCiP 1 Lawsuit Against NFL Agent Demonstrates Financial Challenges of Industry By Christopher R. Deubert, Senior Counsel, Constangy, Brooks, Smith & Prophete, LLP O n September 22, 2022, Opes Capital Fund I, LP, a private equity fund, filed suit against NFL player agent Damarius Bilbo in the United States District Court for the Northern District of Georgia (22-cv-3823). The suit alleges that Bilbo has failed to repay loans totaling $1,325,000 which were intended as short-term working capital for Mr. Bilbo's professional sports agency enterprise. The lawsuit, regardless of its outcome, speaks to the challenges of the sports agent business. Bilbo is a former NFL player with, according to Spotrac.com, ten clients, including Denver Broncos running back Melvin Gordon and Washington Commanders defensive end Chase Young, both former first round picks. While Bilbo formerly operated independently, according to his LinkedIn profile, he is now the Head of Football for Klutch Litigation Continues Between Penn State and the RV Company that Obtained Permission from Coach's Agent to Use School's Marks By Jeff Birren, Senior Writer O utstanding head coaches play a critical role for earning millions of dollars a year, and in turn rake in many tens of millions of dollars directly and indirectly from the football program. Often, these large sums can lead to conflicts. At The Pennsylvania State University (Penn State), the university sued an RV rental business for trademark infringement in 2019. The rental company stated that it had received the necessary permis- sion from the head coach's agent. Recently the Court declined to dismiss Penn State's Complaint based on the defendants' assertion that the coach's agent was an indispensable party to the litigation. Sports Group, a sports agency founded by LeBron James and his agent, Rich Paul. The lawsuit raises questions as to why Bilbo, with such an accomplished resume, would have ever required such a loan. Nevertheless, such loans are common in the NFL agent business. Copyright © 2022 Hackney Publications (hackneypublications.com) AGENTS @ Sports Law