The Federal Bureau of Investigation (FBI) has delved into the financial affairs of a business owned by the Major League Baseball Players Association (MLBPA) and the National Football League Players Association (NFLPA). The FBI’s interest revolves around a multibillion-dollar group-licensing firm that these unions, in collaboration with a private-equity partner called RedBird Capital, initiated known as OneTeam Partners.
According to sources familiar with the matter, FBI agents have been in contact with MLB players to gather insights into the financial transactions linked to OneTeam Partners. The investigation focuses on deals struck by this partnership for media rights and leveraging athletes’ names, images, and likenesses. While certain players involved in union leadership have been contacted by law enforcement regarding these financial matters, they are not subjects of the inquiry.
In response to inquiries about the investigation, OneTeam Partners stated that while they are aware of ongoing allegations concerning their partners, they themselves are not under scrutiny or accused of any wrongdoing. The union executives affirmed their willingness to cooperate fully if approached by government authorities. Additionally, player leadership has sought independent legal counsel apart from the union.
Operating out of Brooklyn’s Eastern District office in New York, the investigation is shrouded in secrecy. Neither a senior FBI official nor representatives from the Eastern District were available for comments or confirmation about the probe. However, it is understood that OneTeam Partners’ valuation soared when other player associations such as women’s basketball and soccer were added to its list of represented athletes.
This recent scrutiny follows previous challenges faced by both MLBPA and NFLPA concerning their involvement with OneTeam Partners. Allegations ranging from nepotism and corruption led to an unfair labor practices complaint filed against MLBPA late last year. In response, audits were conducted to examine equity grants made within these unions through OneTeam Partners.
Despite facing criticism over his alleged involvement in granting equity options within OneTeam Partners, MLBPA’s executive director Tony Clark denied any wrongdoing. Having significantly enhanced union finances during his tenure through partnerships like OneTeam, Clark remains adamant about upholding integrity in all operations.
Financial records reveal substantial returns generated through the partnership – $160 million paid to MLBPA between 2020-24 alone. This windfall contributed significantly towards bolstering union assets which now stand at over $353 million – an all-time high figure for MLBPA according to official documents.
Similarly, NFLPA underwent an audit pertaining to its dealings with OneTeam which concluded that governance practices were aligned with industry standards. Financial disclosures indicate payments amounting to $422.8 million received by NFLPA from OneTeam over five years – attesting to significant financial benefits reaped through this alliance.
As investigations unfold and speculations mount surrounding these high-stakes partnerships between professional sports unions and commercial entities like OneTeam Partners; questions linger about transparency issues within these collaborations.
Leave feedback about this