SBD/Issue 152/Law & PoliticsPrint All
Amount Of Bush's Settlement With
Lake Is Not Known
Saints RB Reggie Bush has "reached a settlement in a civil case brought by Lloyd Lake, one of the financiers of failed marketing agency New Era Sports & Entertainment," according to a source cited by Robinson & Cole of YAHOO SPORTS. The amount of Bush's settlement with Lake is not known, but "comes just days before Bush was expected to give a court-ordered deposition in the suit, centering on $300,000 in unpaid rent, cash and other benefits allegedly provided to the Heisman Trophy winner and his family while he was at USC." This marks the "second settlement by Bush with a New Era Sports founder in the past three years." In '07, he "ended a civil suit brought by Lake's former New Era Sports partner, Michael Michaels, settling for between" $200,000-300,000. Robinson & Cole note settlement talks "appeared to be in the works since Monday morning, soon after San Diego Superior County Judge Steven R. Denton ordered that Lake, Michaels and Bush all submit to depositions in hopes of moving the civil suit forward." The settlement "should mark the last chapter in Bush's saga involving New Era Sports," as the NCAA "recently wrapped its investigation into USC and is expected to reveal its findings as early as next month." Michaels and Lake were "key figures in the NCAA's investigation into Bush, whose family lived rent-free for almost a year in a $757,237 Spring Valley, Calif., house Michaels said he purchased for the family in April 2005" (SPORTS.YAHOO.com, 4/21).