Fernando Tatis Jr. has been crushing it on the baseball field for the San Diego Padres, and that’s why he’s one of the highest-paid MLB players. In 2021, the two-time All-Star signed a 14-year contract worth $340 million.
Recently, the 26-year-old Tatis made a legal decision to protect his earnings, suing the company Big League Advance.
Signing a future earnings contract with the company at 17 years old, when he was in the minor league, Tatis is hoping to void the deal to prevent paying the company roughly $34 million.
San Diego Padres OF Fernando Tatis Jr. sues Big League Advance
Filing the lawsuit in the San Diego County Superior Court, AP News says the baseball star is arguing that Big League Advance lured him into a predatory deal, giving him an illegal loan.
"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."
According to Tatis’ attorney, Robert Hertzberg, the baseball player was given $2 million when he was 17, in exchange for 10 percent of his future earnings. With the Padres extending him to a $340 million deal, the 10 percent is what determined the $34 million number. However, Tatis will also be expected to pay 10 percent of any other professional contracts he may sign.
The superstar is making it clear this lawsuit isn’t just about his pockets. In a statement provided by his publicist, Tatis explains he wants to make sure other young players don’t fall victim to similar deals.
"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. 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."
Big League Advance was founded by former MLB pitcher Michael Schwimer, who is also the president and CEO, and the company now goes by Big League Advantage. The company isn’t a stranger to lawsuits, as it is being sued by several others.
However, Big League Advance is also filing lawsuits of its own, recently suing Tatis’ former teammate Franmil Reyes for a breach of contract.