When an NFL-athlete client heard about the alleged fraud of star quarterback Vince Young in 2012, former advisor Kenneth Ray Cleveland used it to his advantage. “Saw that, but it is like I said this morning in my text message, you get the credit for your financial success,” Cleveland wrote in a 2012 e-mail to former Indianapolis Colts defensive tackle Cory Redding. “Dare I say Vince Young is every bit as good an athlete as Cory Redding, but Cory Redding does his homework.” To read the full article in FinancialPlanning, click: Advisor Gets Prison for $4.7M Fraud of NFL Star.
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The NFL is the nation’s largest sports franchise, generating nearly $10 billion per year. What most people don’t know is that it’s also a nonprofit organization. Even at that level of income, the NFL is a 501(c)(6) “business league” organization where the vast majority of its earnings trickle down to its 32 teams, which includes the Washington Redskins. Recently, Eleanor Holmes Norton, Washington DC’s non-voting congressional delegate, introduced a bill in the House of Representatives to strip the NFL of its tax-exempt status because it promotes a “racial slur for profitable gain.” Meanwhile, a companion bill to accomplish the…
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How the Trademark Trial and Appeal Board’s Cancellation of a Historic Mark Impacts Brand Value and the NFL On June 18, 2014, the Trademark Trial and Appeal Board canceled the federal registration for six Redskins trademarks. In this article, the authors discuss the impact that the cancellation of the trademark may have on the brand, NFL’s revenue sharing, and the value of the Redskins franchise. The authors also outline the options available to the Redskins’ team owner.