So UnThotful
Superstar
And doing this with a bad shoulder that's gonna need off season surgery and he caught Covid a month ago
Tatis pretty much saved San Diego Sports
Fernando Tatis Jr signs 14yr, $340M extension with SD Padres; He’s 22, hasn’t played a full season
- Thread starter Rev
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And doing this with a bad shoulder that's gonna need off season surgery and he caught Covid a month ago
Tatis pretty much saved San Diego Sports
Watched them highlights this morning - jealous I’m not a Padres fan in San Diego right now. He had that park jumping.
Most Exciting Player in baseball. He worth every dollar of that contract.
Most Exciting Player in baseball. He worth every dollar of that contract.
Eye Cue DA COLI GAWD
<--- Cleveland Browns winning that many, boi!
Best baseball talent since Barry Bonds and Babe Ruth
Eye Cue DA COLI GAWD
<--- Cleveland Browns winning that many, boi!
those Padres games are rockin. Dodgers series had a playoff feel
Lets see Tatis jr win a few MVPs before declaring him over A-God. Dude still hasn't played a full season yet.
Foxmulder
Superstar
Don’t know why arod has all these stans on this board. Until Tatis fails a drug test Tatis > Arod.
Had a feeling this would come back to bite him. There it is.
got this Sportico newsletter today, and it included an article about Tatis having to give 1% - 10% of his contract to this group of investors who make money by giving young MLB prospects cash advances when they’re coming up in the minors. I didn’t know this kinda record company thing really existed in pro sports...in terms of the shyt being a real deal investment group with a long list of players.
Cliff notes below...
Tatis Jr.’s $340 Million Contract Will Be Shared With Investment Fund – Sportico.com
A former Philadelphia Phillies pitcher, Schwimer is president and CEO of Big League Advance, a group that gives young prospects upfront cash in exchange for a cut of all their future MLB earnings. The fund has signed contracts with 344 players, none more prominent than Tatis, whose new 14-year extension is among the largest in baseball history.
Big League Advance inked its deal with Tatis five years ago, when he was playing in Single-A, Schwimer said. The shortstop was part of the fund’s first round of investments, $26 million that was distributed across 77 players.
Though Schwimer declined to say how much the fund provided Tatis or how large its stake is (it’s somewhere between 1% and 10%), he said the company offered more to Tatis than any player before him. If it’s 5%, in the middle of that range, the payday for Big League Advance off of Tatis’ new contract would be $17 million.
Schwimer formed Big League Advance in 2016 with the belief that he could use data to identify young prospects most likely to make it to baseball’s top tier. The fund has prominent investors, including mutual fund manager Bill Miller, former Goldman Sachs partner Steven Duncker and Marvin Bush, brother of former President George W. Bush. Cleveland Browns executive Paul DePodesta also has an ownership stake, which is in a blind trust.
Big League Advance gives cash advances to young prospects in exchange for a cut of their MLB earnings. If the player never makes it the majors, Big League Advance loses its initial stake. If the player becomes one of baseball’s most electrifying young talents, Big League Advance earns a hefty return.
The structure of the deals is simple: The company establishes a set amount for each percentage of MLB earnings the player is willing to give up on the back end. For example, if the company offers a prospect $100,000 for 1%, it is then up to the player to decide if he wants to take $300,000 in exchange for 3%, or $1 million in exchange for 10%.
The income-sharing business is not without its controversy. The MLS players’ union has called such third-party agreements “exploitative.” The MLBPA, which doesn’t represent minor league ballplayers, has expressed fears about conflicts of interest that might arise from these deals.
Big League Advance itself has also been the subject of litigation. In 2018 it was sued by Cleveland Indians prospect Francisco Mejia, who claimed he was taken advantage of in a deal that gave him $360,000 in exchange for 10% of his MLB earnings. Mejia later dropped the lawsuit and apologized.
Padres star Fernando Tatis, Jr. is taking legal action against Big League Advance, claiming the future earnings contract he signed with the company at 17 was predatory.
Tatis, 26, claims BLA signed him to an illegal loan masked as an investment opportunity while he was in the minor leagues.
BLA is a company that invests in minor leaguers to help them stay afloat during their early careers but takes a cut of their major league earnings. Its website says it has signed more than 700 athletes since its founding in 2016. For players like Tatis, who signed a 14-year, $340 million deal in 2021, the backpay to BLA can be massive.
Tatis received $2 million from BLA in exchange for 10% of future earnings, his attorney said, meaning he would owe them $34 million from his current deal alone. The suit also claims BLA hid its unlicensed status from Tatis.
“I’m fighting this battle not just for myself but for everyone still chasing their dream and hoping to provide a better life for their family,” Tatis said in a statement. “I want to help protect those young players who don’t yet know how to protect themselves from these predatory lenders and illegal financial schemes—kids’ focus should be on their passion for baseball, not dodging shady business deals.”
The Associated Press reported Tatis filed his suit Monday in San Diego County circuit court, claiming the contract violated California consumer protection laws. The lawsuit was not available in a records search on the court’s website Tuesday morning.
A representative for BLA did not immediately return a request for comment.
mvp_status
Superstar
lmao and he gets popped for roids the very next year after this post
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I view this a lot differently than a pay day loan. Those are very predatory, especially with all of the fees and interest that add up.
I look at this situation differently from that as most of these players will not pan out. It's a big risk and investment to make. You're not getting hit with interest and going into massive debt. You took money up front and offered to give a percentage of your future earnings. If you failed to make the MLB and make a living doing that, then the company is out of money. I don't think there's any way Tatis should win this.
Edit: I did not see that BLA allegedly hid that they were unlicensed. That would change my thoughts on his if it's true.
i just don't understand how a MLB father allowed that to happen.
Trojan 24
Veteran
Obviously it's a bullshyt deal, but he signed the shyt. Hopefully this makes them ban or restrict these deals moving forward. At least use a tier system where if a guys gets one of these huge contracts they can only claim 1-2% after 50 million or something
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