San Diego Padres star Fernando Tatis Jr. has filed a lawsuit against Big League Advance (BLA), a company that offers players an upfront payment in exchange for a percentage of their future MLB earnings, according to the Associated Press. As a 17-year-old minor leaguer, Tatis signed a deal with BLA that paid him $2 million in exchange for 10% of his future earnings.
Tatis signed a 14-year contract worth $340 million in February 2021. He owes $34 million to BLA as part of his agreement. Here are more details from the Associated Press:
The lawsuit, filed in San Diego County Superior Court, accuses BLA of using predatory tactics to lure him into an “investment deal” that was actually an illegal loan. BLA misrepresented itself to Tatis, hiding its unlicensed status and pushing him into loan terms banned by California’s consumer protection laws, the suit alleges.
…
“I’m fighting this battle not just for myself but for everyone still chasing their dream and hoping to provide a better life for their family,” Tatis said in a statement provided by a publicist. “I want to help protect those young players who don’t yet know how to protect themselves from these predatory lenders and illegal financial schemes — kids’ focus should be on their passion for baseball, not dodging shady business deals.”
BLA and similar companies have been accused of predatory tactics and locking young minor-leaguers, often Latin American players from poor backgrounds, into agreements they don’t fully understand. Former major league catcher Francisco Mejía is among several others suing BLA.
Tatis, 26, says he used the $2 million advance to hire a personal trainer, eat healthier, and live in a nice home while making his way up the minor-league ladder. The lawsuit alleges “BLA has for years run an unlicensed lending business that evades legal oversight and siphons millions in earnings from California workers.”
Former Philadelphia Phillies pitcher Michael Schwimer is the president and CEO of BLA. Technically, the BLA advance is not a loan. If the player does not reach the big leagues, he does not owe BLA any payment.
Tatis has since emerged as one of the game’s top players. He entered play Monday with a .268/.359/.460 batting line, 14 home runs, and 15 steals. He is a two-time All-Star.
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