A Sucker Born Every Minute
Over the past couple of weeks, we’ve received a huge volume of e-mails for all sorts of remarkable deals that range from new licensing deals to medical miracles to more golf outings (that’s in addition to all the get-rich-quick schemes and Nigerian scam deals!). Among the most common e-mails of late have been those “recruitment” sites that ask all retired players to sign up for a licensing deal immediately. Lots of talk and absolutely no substance on just exactly what they intend to do once they have your name on that licensing agreement. They don’t tell you exactly how they intend to represent you or what to expect in terms of payment. Just sign up to be included and we’ll take care of the details later. The worst part? They don’t disclose any information whatsoever on what their cut will be. Some of the retired players in our network have inquired about this new deal and we want to describe a real-life scenario and let you make your own minds up.
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Imagine someone coming up to your front door and telling you they have an unbelievable deal for you. Just sign up to join our group and some time later, you just might get a little something from someone. Never mind that you’re actually signing all your rights away to someone you’ve probably never met before in your life (and probably won’t ever again). And ignore the fact that not only do they not tell you what they’re going to give you but they’re not going to tell you what’s in it for them. They might even trot out a retired player or two to convince you they’re legit. It was bad enough that the NFLPA and its legal department created a legal document called a Group Licensing Agreement to convince retired players to sign up for a licensing deal that was actually sent out to thousands of you for years. It was then actually used to defraud the retired players out of millions in royalties. (We’re still wondering why there weren’t Federal charges filed for interstate fraud against the PA and all of the individuals involved? They used the US Postal Service across state lines to perpetuate a long-term fraud. The SEC uses that all the time as a key part of its arsenal in fraud cases).
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Our advice to anyone who gets an offer that sounds too good to be true: It probably IS too good to be true. Everyone always needs to be even more vigilant when it involves e-mail offers with no disclosure. That old warning Caveat Emptor (Buyer Beware) still holds true – especially when it comes to the Internet.
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And while we’re on the subject of scams, this helps us introduce a new post on the CBS Sports blog from this morning titled Why the NFLPA wants to see the Books. The title speaks for itself and it’s actually a decent analysis on some of the ways the NFL has been making and losing money on its numerous business deals. We’d all like to know just how the NFL is The comments are all worth reading. Click HERE to read the post on CBS Sports blog.
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There’s obviously so much money on the table that everyone’s always fighting for a bigger piece of the pie. But given the history of your treatment, the best advice for all retired players is to stick together and share as much information as possible so each of you can make your own informed decisions.
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