Nerlens Noel is suing his former agent Rich Paul, claiming he is responsible for $58 million in lost earnings. The lawsuit alleges that the agent violated fiduciary duties by not securing a contract with a team before negotiating with other teams.
The Nerlens Noel is Suing Rich Paul, Claims Agent Is Responsible For $58M In Lost Earnings is a story about the NBA player Nerlens Noel suing his agent Rich Paul.
The former 76ers big man is suing his agent, Rich Paul, for $58 million in lost earnings. Noel has accused Paul of withholding information that could have helped him land a lucrative contract.
The nerlens noel is suing rich paul is a story about the NBA player who has filed a lawsuit against his former agent. He claims that he was responsible for $58 million in lost earnings.
Rich Paul is one of the most well-known figures in sports, well recognized for his involvement with Klutch Sports and his friendship with LeBron James. Rich Paul is being sued by Nerlens Noel, a current NBA player and past client, despite his generally positive reputation.
According to Sports Agent Blog’s Darren Heitner, Nerlens Noel is suing Rich Paul for depriving him of $58 million in profits. According to the report, Nerlens Noel ended his connection with his previous agent because Rich Paul promised him a max deal, which he never received.
The article includes a litany of Noel’s complaints, including his belief that Paul failed to assist him in finding new sponsorships or agreements. Nerlens Noel is a player who has previously turned down a large contract and lost out, having previously turned down a $70 million offer from the Mavericks.
Paul, who represents LeBron James, Anthony Davis, Trae Young, Draymond Green, and Ben Simmons, is accused of interfering with Noel’s previous connection with Happy Walters, who represented him when he was selected into the NBA out of Kentucky in 2013. According to the Complaint, Paul informed Noel in 2017 that he “was a 100 million guy” and that if he ended his connection with Walters, he could get Noel a maximum contract.
All of this is said to have occurred during Simmons’ birthday celebration in Los Angeles, where Paul was seated next to Noel during the dinner portion of the event. Noel parted ways with Walters after the party and signed a Standard Player Agent Contract (SPAC) with Paul. Noel also allegedly followed Paul’s advice and rejected a four-year, $70 million qualifying offer from the Dallas Mavericks in lieu of taking a one-year, $4.1 million qualifying offer with the aim of subsequently pursuing a max contract on the free agency market. On the qualifying offer, Paul received a 4% commission.
“Neither Paul nor anyone at Klutch Sports presented any real proposals to Noel in terms of strategies or ideas on how Noel might secure a long-term contract or even a significant contract for the following season during the free agent season, which began on July 1, 2018, and after Noel’s one-year contract with Dallas expired,” the Complaint states. “In fact, no genuine proposals or agreements were offered to Noel on the opening day of free agency in the 2018 NBA season.”
Paul had nothing to do with Noel joining with the Oklahoma City Thunder, according to Noel, who claims that Russell Westbrook and Paul George persuaded him to join them. The club signed Noel to a two-year, $3.75 million league-minimum contract, and Paul was given a 2% commission.
Paul has been chastised for failing to make an attempt to negotiate contracts or agreements for Noel throughout his time with the Thunder in 2018-19 and afterwards. On the second year of his contract with the Thunder, Noel rejected a player option and instead entered the free agency market. He was forced to accept another one-year league minimum deal with the Thunder after receiving no other offers.
Brett Brown, who was coaching the Philadelphia 76ers at the time, reportedly informed Noel that the 76ers front office had attempted to reach Paul to negotiate a possible trade but that Paul had failed to reply. This was also said to be the situation with other team representatives who were contacting them.
Eventually, Noel claims he considered ending his connection with Klutch Sports; however, he was convinced by the company’s Lucas Newton that they were working on a three-year contract with the Thunder that would pay Noel $7 million to $10 million per year. As a result, Noel chose to remain with his current agency.
Then came free agency, and the first day was rather calm. Representatives from the Houston Rockets and Los Angeles Clippers wanted to explore possibilities with Paul, according to Noel, but they were unable to reach him. Leon Rose (previously of Creative Artists Agency and later of the New York Knicks) approached Noel about a deal, and he eventually agreed to a one-year contract for $5 million.
Noel ended his partnership with Paul and Klutch Sports in December 2020, citing the fact that Paul “had a history of mismanaging and neglecting other clients and losing them considerable money” as the last straw. He felt Paul and Klutch Sports were only interested in servicing their high-profile clients, and that they didn’t have the resources to serve Noel as well as Norris Cole or Shabazz Mohammad. After Noel’s first season with the Knicks, he signed a three-year contract for about $32 million with basketball agent George Langberg.
Noel wants to be compensated for losing $58 million in missed earnings after being persuaded to leave Walters and turn down a $70 million four-year contract from the Mavericks. He claims Paul violated his fiduciary responsibility by convincing Noel to cancel his representation arrangement with Walters and then failing to conduct any significant effort on Noel’s behalf in terms of obtaining contracts, new endorsement agreements, or giving Noel ways to maximize his worth and profits.
While Rich Paul has yet to react to the accusations, it seems that Nerlens Noel has some significant grievances. We’ll most likely learn more about this issue shortly, and if the accusations are accurate, Paul may be liable for some significant losses.
Related Tags
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Related Tags
- rich paul
- nerlens noel contract
- rich paul net worth
