http://www.bizjournals.com/tampabay...-suing-north-american-soccer-league-over.html Edwards suing North American Soccer League over his purchase of Rowdies Apr 14, 2017 12:46pm EDT
The complaint is posted and can be downloaded. I'm working through it. Keep in mind, everything here is an allegation, that has not been proven. One clarification already: the Class B shares are owned by NASL Team Holdings LLC, another named defendant in the suit. Traffic is alleged to have been the "lead investor in and controlling entity of" Team Holdings. It's worth reading paras 9 to 13. Some of this has long been discussed, but I was never satisfied with explanations I had read before. Note: Team Holdings ownership of the B shares does not mean that Fath (or anyone else) does not have an interest in Team Holdings. It just means that any interest in the NASL's B-shares held indirectly through Team Holdings.
Exhibit B from the court file is interesting: This will be another fun one to watch. Edit: Relates to Count V of the complaint. Edward's is alleging that the Cosmos where giving 23% of Team Holdings for no consideration as part of the deal to join the league. Team Holdings seems to disputes this. Also, by my reading, the declaration sought under Count I indicates that Edwards has not actually paid the withdrawal fee. He wants the declaration that personal guarantees he executed are void, in the event that the NASL tries to enforce against him. I think I suggested in the old thread that this was the smart play: it's better to just not pay, and defend when they sue you, than to pay the withdrawal fee and then try to get the money back.
In november last year he wanted to buy the NASL Strikers Bill Edwards seeking control of Fort Lauderdale Strikers after team ... saintpetersblog.com/bill-edwards-seeks-control-fort-lauderdale-str...
I wonder what the end game here is - other than being let out of the exit fee for leaving. Does Edwards want control of the Strikers? Is he doing the dirty work for the USL by trying to put the final nail in the coffin for the NASL? Or is it something else? I'd like to see a settlement so that the club can focus on the MLS bid. To me, it's an unwanted distraction for both sides.
I would consider it a red flag to the BoG. Lawsuit happy people are not the partners MLS is looking for. For his sake, hopefully it's a negotiating push to get the NASL to walk away.
Not really. He's just trying to realize on his security. I suspect it's mostly about the exit fee, but he may also be able to get a personal pound of flesh off of some of the parties he feels wronged by. It also provides a template for other parties who may not be interested in paying a withdrawal fee, and is a good way to get some of the these details into the public domain that doesn't violate potential confidentiality agreements.
Just heard the first Deltas ad on KNBR radio in the SF Bay Area. I think that is their first ad ever they've ever had. Glad at least that they are getting exposure.
Interesting... I would have never put Edwards in that category of juris intellect myself, but where do you think would this line of reasoning would put him on the scale of stubborn self-righteously savant litigious nincompoops?
Probably a lot of problems and a lot of headaches for the Puerto Rico FC owner Carmelo Anthony Allegedly Knocked Up Dancer and La La is Pissed ... www.tmz.com/.../carmelo-anthony-la-la-anthony-knocked-up-da...
There was always going to be an issue for them when his career inevitably ended. His marriage potentially ending may very well have a deleterious effect as well.
So.....San Francisco looks like, if not a goner, not at all a well cat at the moment. Puerto Rico's continued poor economy plus Carmelo Anthony's marital situation do not bode well for them. Edmonton is all the way up from a terrible drawing club to a below-average drawing club. Jacksonville does not have an owner (yet). And Indy - which tried and failed again to get some money out of the state legislature for their stadium - continues to see their crowds slide. (They're off about 9% year-over-year.) Orange County is supposed to be announced very soon. San Diego supposedly would be next. Chicago has venue issues and is likely going to have to be pushed back to 2019. But if they lose SF and Edmonton and PR and only get Orange County as a replacement, will there still be an NASL for Chicago to launch in in 2019?