Termini and Klutch agreed to a three-year contract, later extended to 2020. Klutch agreed to pay Termini 25% of Klutch and Paul's royalties for NBA contracts and marketing deals. As indicated in the complaint, the contract contemplates that there are payments to be made even if the agreement between Klutch and the NBA player is terminated. Termini will also be the “exclusive provider” of contract negotiation services to Klutch. Termini estimates he negotiated “more than $1.4 billion in contracts” for Klutch during free agency prior to the 2019-2020 season. His services were used in deals with Draymond Green, Ben Simmons, Eric Bledsoe, Tristan Thompson, JR Smith and, most notably, LeBron James. Termini says it was his idea to implement a “one-and-only” contract strategy for James in which James earned more than $19 million over three short contracts with the Cavaliers—instead of one long deal—when he returned to the Cavs in 2014. -via Sportico / June 26, 2024
Source link
