Fernando Tatis Jr. just lost a massive court battle and it could cost him millions
Fernando Tatis Jr.’s pockets just got a lot smaller. A San Diego Superior Court judge officially dismissed the San Diego Padres superstar’s attempt to void a controversial 2017 agreement he signed with the Big League Advance Fund, a talent investment firm that gave the then teenage prospect a $2 million advance in exchange for 10% of his future earnings. The ruling means that Tatis Jr.remains on the hook for tens of millions of dollars, including an immediate $3.2 million already awarded in arbitration and more than $240,000 in the firm’s attorney fees. Tatis Jr.
was just 18-years-old and a minor league prospect when he made the deal with the firm. For Tatis Jr., the dismissal is a brutal legal loss wrapped inside a much larger ongoing fight between how young athletes, especially in other countries, are monetized before they fully understand the business surrounding them. Tatis Jr.’s lawsuit painted the company as predatory, accusing former big league Michael Schwimer and BLA representatives of targeting financially disadvantaged teenagers with flashy promises and quick cash. According to the court filings, Tatis alleged he was “fraudulently induced” into the deal during a dinner meeting in 2017 where the focus centered on immediate money for him and his family, and not the long-term consequences of the deal. When Tatis Jr.signed the deal, he was not the face of the Padres.
He was an electric talent with a bright future.Anyone with two eyes could see that he would one day become a star and with baseball’s bloated contracts in a league without a salary cap, 10% of his future earnings was going to be much greater than a $2 million dollar up-front payment. However, he is the son of Fernando Tatis Sr., a 14-year major leaguer who made close to $20 million in career earnings.
Why on earth would his son need a $2 million advance?Four years after receiving that advance, Tatis Jr.signed a 14-year, $340 million mega contract that transformed that or...