Fiduciary Duty

Apr 25, 2009

DeMaurice Smith

Over the past 25+ years, Dave and his fellow retired players have consistently emphasized the fiduciary responsibilities of their Union, the NFLPA, and its management to those retired members who have contributed to make the game what it is today. So it was a great leap forward from the Gene “I don’t work for them” Upshaw era just to hear new Executive Director DeMaurice Smith quoted yesterday at a press conference in New York from his first players’ meetings. The new Executive Director was quoted as saying that the NFLPA has a fiduciary duty to its retired players.

Sports Business Journal’s Daniel Kaplan has a short piece from that press conference HERE and the Retired Players has a piece on this news HERE (along with a link to the legal definition of Fiduciary Duty Law HERE).

Could this be another reason DeMaurice Smith is already running into such opposition from the inside over issues like his tenure and salary?

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One Response so far | Have Your Say!

  1. Dave Pear
    April 25th, 2009 at 9:11 pm #

    Dave Pear
    Dear DeMaurice Smith,

    A federal jury in San Francisco ordered the NFL Players Assn. to pay $28.1 million in damages to retired players for “Breaching their Fiduciary Duty” in the Players Inc. Trial.

    The language in the courts that jurors found the union to be guilty of included such phrases as “malicious and oppressive conduct with evil motive,” and “conduct that was outrageous and grossly fraudulent.” Wow!!

    Surely the NFLPA Leadership has also been guilty of violating their Fiduciary Duty over Disability!

    When is the union going to settle their $28.1 million in damages to retired players?

    Keep your guard up, DeMaurice, as you attempt to negotiate your contract with the NFLPA Leadership that has a most contentious nature.

    Regards,
    Dave Pear