FTX’s multi-million dollar clawback wishlist includes promotional payments to Shaquille O’Neal, Naomi Osaka, and a handful of other current and former pro athletes and sporting teams.
Bankrupt crypto exchange FTX is probing if it can reclaim the millions of dollars paid to celebrity athletes and sports teams that promoted the exchange before it filed for bankruptcy last November., FTX’s financial advisors laid out a detailed list of high-profile figures and businesses it paid in its marketing efforts to see if they’re under rules allowing bankrupt companies to reverse the payments.
The list includes $750,000 made to former basketball pro Shaquille O’Neal, over $300,000 to Tennis pro Naomi Osaka, over $270,000 to former baseball star David Ortiz and over $200,000 to American football quarterback Trevor Lawrence. Highlighted excerpt of payments FTX said its made to various athletes and professional sports teams. Source: Kroll
Also included are nearly $420,000 made to pro basketball team the Golden State Warriors and over $250,000 in various payments to Miami Heat. The filing warned, however, that the final amount FTX may recover from the efforts “may vary materially from the amount reported.”
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