Come on Lebron, you can afford it now. ------------------------------------------------------ Associated Press CLEVELAND -- An Akron businessman has sued the family of Cleveland Cavaliers rookie LeBron James, contending he was not repaid a loan of more than $115,000. In a breach of contract suit filed Thursday, Joe Marsh said he lent the money to Eddie Jackson and Gloria James during LeBron James' last two years at St. Vincent-St. Mary High School in Akron. Marsh said Jackson and Gloria James asked for the money to help support LeBron James and his mother and to "pay for Jackson to travel the country to meet with shoe company executives on behalf of LeBron." James said Thursday he was going to let his lawyer handle the matter. "Things like that are going to happen. I think it comes with the territory of being an NBA player," James said. Marsh, majority owner of Magic Arts & Entertainment in Aurora, Ohio, has said he didn't make the loan with the intention of being James' agent when he turned professional. LeBron James was chosen by the Cavaliers with the No. 1 overall pick in this year's NBA draft. He also signed a $90 million deal with Nike. Jackson, who helped Gloria James raise her son, is serving a three-year prison term for mortgage and mail fraud. LeBron James' agent, Aaron Goodwin, says James offered to repay the money Marsh said he was owed -- which Goodwin says was $149,000 -- but only if Marsh signed a confidentiality agreement. Marsh refused. Marsh, whose company represents magician David Copperfield and produces shows such as "Lord of the Dance" and "Grease," said he gave Jackson two checks totaling $50,000 in July and October of 2001 and then began issuing monthly checks for $2,500. The lawsuit includes a copy of a promissory note for $50,000 signed by Jackson dated Oct. 1, 2001. It also includes copies of two checks for $2,500 each, endorsed with the signature of Gloria James. One is made out to "cash" and the other to "Gloria James." They are dated April 23, 2003 and May 22, 2003.
I wonder if there's some scandal buried in this somewhere...why else would they want a confidentiality agreement over what is now "pocket change" to James, esp if it's repaying someone who obviously helped him out before the money was overflowing.
I might be wrong on this, but James receiving a loan, that large, would surely have been investigated by the proper authorities (just like when he bought his Hummer). Joe Marsh sounds like he is an agent. So for Lebron to take money from him, might have jeapordized his amature status. Overall, Lebron not paying this guy because he wouldn't sing the agreement is a moronic move. Now, there is mud being thrown in Lebron's direction that is going to end up sticking(keep in mind that Lebron's agent is not denying that they owe the money). Lebron is trying to strong arm the guy and the end result could be his high school team having to forfeit all their games and championships that they won when he was playing on the team. Lebron should have just repayed the guy, unconditionally, and said thank you.
Yeah, but if he did that he might have left himself open to the guy writing a tell-all book. I think that's why they wanted the confidentiality agreement.
