Connect with us

Sports

Tom Brady, Larry David, other celebrities named in FTX suit

Source image: https://apnews.com/article/entertainment-technology-sports-celebrity-business-24690dec0c1541a911f4d201e568ebee

NEW YORK (AP) — A host of Hollywood and sports celebrities including Larry David and Tom Brady were named as defendants in a class-action lawsuit against cryptocurrency exchange FTX, arguing that their celebrity status made them culpable for promoting the firm’s failed business model.

FTX has been in the public eye for more than a week, after the third-largest cryptocurrency exchange ended up with billions of dollars worth of losses and had to seek bankruptcy protection on Friday. The Bahamas-based company and its founder, Sam Bankman-Fried, are under investigation by state and federal authorities for allegedly investing depositors funds in ventures without their approval.

Lawmakers also announced plans to investigate the failure of FTX, with the House Financial Services Committee saying it plans to hold a hearing on FTX in December.

Before its failure, FTX was known to use high-profile Hollywood and sports celebrities to promote its products. It had the naming rights to a Formula One racing team as well as a sports arena in Miami. Its commercials featured “Seinfeld” creator David, as well as Brady, the star quarterback of the Tampa Bay Buccaneers, basketball players Shaquille O’Neal and Stephen Curry, and tennis star Naomi Osaka.

The lawsuit filed late Tuesday alleges that these sports and TV celebrities brought instant credibility to FTX, and should be held just as culpable as Bankman-Fried.

“Part of the scheme employed by the FTX Entities involved utilizing some of the biggest names in sports and entertainment—like these Defendants—to raise funds and drive American consumers to invest … pouring billions of dollars into the deceptive FTX platform to keep the whole scheme afloat,” the lawsuit said.

Class-action attorney Adam Moskowitz pointed to previous cases where the U.S. government fined celebrities Kim Kardashian and Floyd Mayweather for promoting crypto.

“The crypto industry needed celebrity endorsers to get any credibility,” Moskowitz said.

The plaintiff in the case is Pierce Robertson, who is also involved in a case involving Voyager Digital, another failed cryptocurrency company that was endorsed by Dallas Mavericks owner Mark Cuban. Voyager Digital failed for bankruptcy protection this summer, but FTX had pledged to buy Voyager’s assets for $1.4 billion, which would have led to financial relief for Voyager’s depositors. FTX’s failure now puts its aid to Voyager in question.

The lawsuit was filed in the Southern District of Florida. Moskowitz is the attorney representing the victims in the collapse of a Florida residential tower in Surfside, Florida.

Well-known attorney David Boies, who represented the U.S. government against Microsoft in the 90s and Al Gore in the 2000 election, is also named as an attorney on the case.

The Miami Heat were starting a four-game road trip in Toronto on Wednesday. Forward Udonis Haslem, also named in the lawsuit, is away from the team for personal reasons.

___

Fatima Hussein in Washington and Tim Reynolds in Miami contributed.

Source: https://apnews.com/article/entertainment-technology-sports-celebrity-business-24690dec0c1541a911f4d201e568ebee

Continue Reading

Sports

Report: NWSL to expand in Boston, Utah and California

The National Women’s Soccer League is close to expanding by three teams, which will be in Boston, Utah and the San Francisco area, according to a Friday report in the Wall Street Journal.

The women’s pro league previously indicated it would add at least two teams by 2024. The Wall Street Journal, citing unnamed sources, reported that the franchises in northern California and Utah are set to start play next year, with Boston to join at a later date.

The NWSL did not confirm the report in a statement Saturday to The Associated Press, saying: “We remain engaged in our expansion process and are excited about our prospects. When we have news to share, we will do so.”

The NWSL has 12 teams, after Angel City in Los Angeles and the San Diego Wave joined the league last year.

The Wall Street Journal also reported that the Boston and Bay Area groups will pay about $50 million in franchise fees. The Utah team will pay a reduced fee because of a previous agreement struck when the Utah Royals folded in the 2020 season.

Before the NWSL draft earlier this month, league commissioner Jessica Berman said it would be “somewhere between days and months, more like weeks, when we’ll be in a position to share information” about an expansion.

“What I can say is that I couldn’t be more excited about the opportunities we have in front of us,” she added.

___

AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP_Sports

Continue Reading

Sports

Former MVP Candace Parker to sign with champion Aces

LAS VEGAS (AP) — Former two-time MVP Candace Parker announced on social media Saturday that she would sign with the defending champion Las Vegas Aces.

Parker spent the past two seasons playing for her hometown Sky, leading Chicago to the WNBA championship in 2021. She also won the 2016 title playing for the Los Angeles Sparks.

She posted on Instagram that Chicago would always be her home, but “my family’s home is on the west coast.

“To play for a championship close to home is the perfect situation for us. I’m looking forward to continuing the journey this summer in Las Vegas.”

The free-agent signing period begins Wednesday, and the Aces can’t comment until then.

Parker, a 6-foot-4 forward/center, adds to an already loaded lineup that includes reigning MVP A’ja Wilson, who also won the league’s top award in 2020. Wilson also was last season’s Defensive Player of the Year.

Chelsea Gray was MVP of the WNBA Finals and Kelsey Plum MVP of the All-Star Game. Wilson, Plum and Jackie Young were All-Star starters.

Parker and Gray were teammates on Los Angeles’ 2016 title team.

The Aces traded one of their key pieces, two-time Sixth Woman of the Year Dearica Hamby, to the Sparks on Jan. 21, creating speculation Las Vegas was creating salary cap room to sign a big-name player.

Parker, the 2020 Defensive Player of the Year and the 2016 Finals MVP, certainly fits that bill. Even at 36 last season, she averaged 13.2 points, 8.6 rebounds and 4.5 assists for the Sky.

“Candace has done so much for our franchise in her time here,” Chicago coach and general manager James Wade said in a statement. “I understand her reasons for wanting to be closer with her immediate family. We wish her nothing but the best. She will always be a part of the Sky family. We will celebrate her time here as she deserves.”

Losing her is a big blow to the Sky, who made the semifinals in last season’s playoffs before losing in five games to the Connecticut Sun. Kahleah Copper is the only starter under contract for next season, so the Sky could head into a rebuild.

“I am beyond grateful for the opportunity to win a championship in my hometown and parade down the same streets I watched the Bulls parade down as a young girl first falling in love with the game of basketball,” Parker posted.

Parker joins the Aces at a time the Women’s National Basketball Players Association said it wanted that organization investigated regarding allegations that Hamby made after being traded. She posted on Instagram she was “lied to, bullied, manipulated, and discriminated against” because she is pregnant with her second child.

The Aces still have not commented on Hamby’s allegations.

___

AP sports: https://apnews.com/hub/sports and https://twitter.com/AP_Sports

Continue Reading

Sports

Estrada, Hofstra end No. 18 Charleston’s 20-game win streak

CHARLESTON, S.C. (AP) — This season, Hofstra has been a one-man show. This time, Aaron Estrada had some help as the Pride ended the nation’s longest winning streak.

Estrada scored 25 points, but just two in the second half, while Darlinestone Dubar added 18 as Hofstra had four players in double figures to knock off No. 18 College of Charleston 85-81 on Saturday — ending the Cougars’ 20-game win streak.

“That’s a really big for our program,” Hofstra coach Speedy Claxton said. “To beat a nationally ranked team on their home court when they’ve got it rolling like they do speaks volumes about our kids.”

Claxton saw a team effort to take down the hottest team in the country.

“It wasn’t just Aaron,” Claxton said. “He had a great first half, but we had other guys step up and make baskets or get rebounds when we really needed them.”

The loss ended Charleston’s spotless run that began after losing to then-top-ranked North Carolina on Nov. 11.

Hofstra, the CAA’s leader in field-goal shooting, used that to move past Charleston in the second half as it made 18 of 32 attempts. The Pride led 76-69 with 6:10 to play before the Cougars cut it to two points on Ryan Larson’s foul shots with 2:02 to play.

But Charleston managed just two free throws after that and missed all four 3-pointers they tried.

This is the second straight season the Pride have beaten a Top 25 team. A year ago, Hofstra defeated then No. 24 Arkansas 89-81. The Pride’s only other victory against a Top 25 team came against Southern Illinois in 1976.

Hofstra (15-8, 8-2 Colonial Athletic Association) beat the Cougars (21-2, 9-1) at their own game — 3-point shooting. The Pride were 11 of 22 from 3-point range and overall shot 56 percent from the floor in the second half.

Estrada, who had 23 points in the opening half, shredded the Cougars defense at will. Estrada was 5 of 9 from 3-point range.

“Estrada is a great player, hit a bunch of tough shots, especially in the first half,” Charleston coach Pat Kelsey said. “Hofstra is a very, very talented team. It’s not just Estrada. They were better than us tonight.”

Then Estrada took over. The CAA’s leading scorer at 21.1 points a game scored 16 of the next 24 points for the Pride, including four 3-pointers.

Ante Brzovic’s dunk at the buzzer gave the Cougars a 46-44 advantage at halftime.

Tyler Thomas had 17 points and eight rebounds for Hofstra.

Brzovic finished with 18 points to lead the Cougars.

BIG PICTURE

Hofstra: The Pride are on a roll in 2023. winning seven of their past eight games, including three in a row.

College of Charleston: The Cougars chances of receiving an NCAA Tournament at-large bid took a major blow with the loss to the Pride. Despite having the nation’s longest win streak for three months, Charleston will most likely have to win the CAA Tournament in March to advance to the NCAAs.

NO PLACE LIKE HOME

The Cougars’ 20-game win streak wasn’t the only streak to end on Saturday. College of Charleston played 14 of its first 23 games at TD Arena to start the season and were a perfect 13-0 at home before facing the Pride. Charleston’s 13-game home win streak included three wins in the Charleston Classic. The Cougars became the first mid-major program to win the ESPN event, beating Virginia Tech 77-75 in the championship game. Charleston will finish the season playing four of their final eight games on the road.

POLL POSITION

Charleston’s first loss in nearly three months might drop the Cougars from the national rankings. They have been part of the last four rankings, entering at No. 23 before reaching No. 18 this past week.

UP NEXT

Hofstra returns home to play Towson on Thursday night.

College of Charleston starts a two-game road trip at Drexel on Thursday night.

___

AP college basketball: https://apnews.com/hub/college-basketball and https://apnews.com/hub/ap-top-25-college-basketball-poll and https://twitter.com/AP_Top25

Continue Reading

Trending