by Structured Settlement Watchdog
Have you been approached to invest in receivables purportedly guaranteed by professional athletes, their teams, or leagues in baseball, football, basketball, or soccer? Has the investment delivered the promised results as presented by the promoters of the so-called factored sports contract investment, or have you incurred financial losses?
Sports fandom is about more than just entertainment. It can boost your self-esteem and make you happier — and you don’t have to root for the winning team to reap the benefits. Source: CNBC Corey Steig July 23, 2020
Being a sports fan is a “very psychologically healthy activity,” says Daniel Wann, professor at Murray State University whose research program centers on the psychology of sport fandom. Fandom connects us to other like-minded people, which satisfies our human need for belonging, he says. Source: Ibid
Should sports fandom extend to investing in receivables that purport to be from Basketball, Football or Soccer Player or Agent's Contracts?
Healthy skepticism is the fine margin between fandom and "dumbdom". A number of receivables deals originated by Atlantic Solutions, LLC and distributed through NV Partners LLC/SMA Hub/Hub Business Trust have been the subject of lawsuits in the last several years.
- Michael Vick, former Virginia Tech and NFL great who pled guilty in 2007 to involvement in dog fighting and spent 21 months in prison See Washington Post In court, Oregon company claims it made a $400,000 bet on NFL great Michael Vick—and that things haven’t gone well August 9, 2019 and Michael Vick agrees to chip away at a nearly $2 million judgment stemming from an unusual financial deal. November 27, 2020
- Brendrick DeAngelo Simmons Agent for Paul Millsap, an NBA player.
This author is aware of investors still waiting for their money on the Michael Vick deal, although NV Partners/SMA Hub has had a confessed judgment against Vick since July 2019.
In the Simmons deal, some investors were paid off in settlements of an Arizona lawsuit in October, but investor litigation on multiple other fronts is ongoing.
Are there any other investors out there who have been solicited to buy and/or have bought receivables that are alleged to be originated from and/or guaranteed by professional baseball players, professional soccer players or their teams?
If so, I 'd like to hear your story. Have things gone the way you were sold by the promoters of the investment? Did the athlete or obligor on your investment pay on time? If not, was the payment schedule compromised in any way? Did you ever have to incur legal fees to protect your investment?