SAN DIEGO (AP) — San Diego Padres star Fernando Tatis Jr. filed a lawsuit Monday against Big League Advance in an attempt to void the future earnings contract he signed as a 17-year-old minor leaguer that could cost him about $34 million.
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.
Attorney Robert Hertzberg said the suit also seeks public injunctive relief to protect young athletes from being lured into such deals.
Hertzberg said Tatis received $2 million up front in exchange for 10% of future earnings. Tatis signed in February 2021. Hertzberg said Tatis would also be on the hook for future earnings from any subsequent contract he might sign, unless the deal is voided.
“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.”
Tatis, a son of the former big league infielder, declined further comment before Monday night’s game against the Washington Nationals.
Hertzberg said that even though Tatis signed the deal in his native Dominican Republic, he is covered by California consumer protection laws.
BLA declined comment.
“California lawmakers have put in place serious, straightforward protections against predatory financial activity, but BLA has still disregarded our laws to pursue a business model built on prohibited, deceptive and abusive practices,” said Hertzberg, a former speaker of the California State Assembly and majority leader of the California Senate.
Tatis has blossomed into one of the game’s biggest stars, although he’s been dogged by injuries and handed down by MLB in 2022. He debuted in 2019 and was an All-Star at shortstop in 2021 before being moved to right field, where he was an All-Star last year.
BLA sued former one-time Padres outfielder Franmil Reyes on June 16 in Delaware Superior Court, claiming breach of contract. BLA says Reyes owes $404,908.87 in past due payments plus $298,749.13 in interest, as well as a yet-to-be-determined amount from when he played in Japan.
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