Sure Sports, broker in NFL player impersonation loan fraud, files for Chapter 11 bankruptcy
Sure Sports, the loan brokerage firm that arranged fraudulent loans to individuals impersonating NFL players Michael Penix Jr., Xavier McKinney, and David Njoku, has filed for Chapter 11 bankruptcy protection. According to the report, the firm brokered at least three loans totaling $11.7 million in 2023 and 2024 to someone who turned out to be former Alabama lineman Luther Davis, who attended loan closings in disguise. Davis has pleaded guilty and is scheduled to be sentenced in December, while his co-defendant has already received a six-year prison sentence. Sure Sports, which was founded in 2009 and has arranged hundreds or thousands of athlete loans, faces at least two civil lawsuits from lenders who allege the firm failed to conduct proper due diligence, and the Chapter 11 filing is expected to pause those cases against the company.
Sure Sports is showing no signs it is slowing down; on the same day the company filed Chapter 11, Sportico detailed its plans for loans to MLB players in case there is an extended lockout next year.
Why it matters
For service providers: Sports finance and loan brokerage firms operating in the athlete lending space may face heightened scrutiny following this high-profile fraud and bankruptcy case.
For brands: Lenders and financial institutions that extend credit through sports loan brokers face potential exposure if due diligence standards are not rigorously applied.
For athletes: Pro athletes whose identities could be used in fraudulent loan schemes should be aware of the risks, as the three NFL players named in the fraud had no involvement but were still implicated by name.
Read the full story at Front Office Sports
Sources
- Front Office Sports · Daniel Kaplan: Broker in NFL Loan Scam Files for Chapter 11 Bankruptcy
- Sportico · Justin Birnbaum: Athlete-Lender Sure Sports Files for Chapter 11 Bankruptcy Protection