San Diego Padres star Fernando Tatis Jr. has filed a lawsuit against a company that lends money to MLB players.
According to Brittany Ghiroli and Dennis Lin of The Athletic, Tatis filed a legal complaint on Monday in the Superior Court of California, County of San Diego, against Big League Advance Fund and Big League Advantage, LLC (BLA). The company essentially loans money to players in exchange for a percentage of future earnings.
Tatis signed an agreement with BLA when he was in the minors in 2018. He told Ken Rosenthal of The Athletic at the time that he needed money for a personal trainer and basic expenses like food and rent.
The lawsuit filed by Tatis accuses BLA of “exploitative, predatory business practices, which shamelessly push illegal loans on young, vulnerable athletes, most from economically disadvantaged Latin American countries.” The complaint describes BLA as an “unlicensed lending business that evades legal oversight and siphons millions in earnings from California workers.”
“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 press release. “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 signed a 14-year, $340M deal with the Padres in 2021.
Under the terms of a typical BLA agreement, a player does not have to repay the money he was loaned if he never makes it to the major leagues. However, the percentage players must pay to BLA after they sign an MLB contract can be significant.
As The Athletic notes, former MLB catcher Francisco Mejía also sued BLA in 2018. He accused the company of using “unconscionable” tactics to get him to agree to give up 10 percent of his future MLB earnings after he was loaned a total of $360,000.
Tatis, a two-time All-Star and former Gold Glove Award winner, is in his sixth MLB season with the Padres. He entered Monday batting .268 with 14 home runs and 34 RBI.
