12/19/2023 0 Comments A family venture money cheat![]() ![]() It shouldn’t be difficult to provide, and so the lengthy timeline may indicate something nefarious is at play.ĬHARLOTTE, NORTH CAROLINA - AUGUST 26: Baker Mayfield #6 of the Carolina Panthers throws a pass in. That’s because many management agreements allow tag-along investment rights athletes get to invest in a start-up, but so do the managers at a similarly preferred valuation.Īll of the above may be the type of detailed information the Mayfields have requested, but not received. Investments also carry a heightened risk of potential co-mingling of funds between athlete and manager. Managers often fail to provide a detailed enough breakdown of earnings or returns from investments to determine if the cash inflows are complete. Supporting documentation might be a copy of the remittance paid to the entity, some sort of signed legal agreement, and proof that the properties exist, none of which are common in business manager-to-client reporting. Consider for instance an athlete that invested in a real estate venture. (Photo by Mike Coppola/Getty Images) Getty Imagesįor example, if an athlete’s cash position shrunk significantly month-over-month, it would be important to know the specific cash inflows or outflows that generated that change, as well as a reconciliation to third-party information such as bank statements (original copies, of course).Īnd yet, business managers are unlikely to provide those bank statements or other external documents. Stone Super Bowl Party at The Clayton House on Februin Scottsdale, Arizona. SCOTTSDALE, ARIZONA - FEBRUARY 10: (L-R) Emily Mayfield and Baker Mayfield attend the 2023 Rolling. ![]()
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