SBJ/April 25 - May 1, 2011/Labor and AgentsPrint All
San Diego Chargers wide receiver Craig “Buster” Davis has reached a settlement in a federal lawsuit he filed against two financial advisers who have represented a number of high-profile NFL players, as well as a businessman who has attracted multiple NFL players as investors in oil wells and other projects.
The lawsuit, filed in federal court in New Orleans last year, alleges Davis relied on misrepresentations by financial advisers Michael Rowan and Jason Jernigan to transfer $500,000 out of his bank account for an interest in Teton Air Ranch, a private jet hangar project being built in Idaho by businessman Bryce Karl. The case is of great interest to the NFL player community because many NFL players are, or were, clients of Rowan and Jernigan and have invested in that project or another project, involving oil wells, also run by Karl.
That client list has included Mario Williams, Carnell “Cadillac” Williams, Carlos Rogers and Jonathan Stewart, among others, sources said.
Davis sued Rowan and Jernigan for breach of fiduciary duty, Karl for unjust enrichment, and all three for fraudulent misrepresentation and civil conspiracy, among other things. Rowan and Jernigan’s company, Capital Management Group Wealth Advisors, was also named as a defendant in the lawsuit, which asked for unspecified actual and punitive damages.
Brad Schlotterer, Davis’ attorney, confirmed last week that the case has been settled.
“Craig Davis has come to terms with Bryce Karl, Jason Jernigan and [Capital Management Group], and the case has been settled,” Schlotterer said. “We are in the process now of the defendants fulfilling the terms of the settlement.”
Schlotterer declined further comment.
Terms of the settlement are confidential.
Allen Miller, attorney for Rowan, had no comment. Attempts to reach Jernigan and Karl were unsuccessful.
Jernigan and Rowan are also being sued by New Orleans Saints defensive end Alex Brown in Illinois state court. The lawsuit alleges Brown suffered $4 million in losses in investments, including an investment in a project run by Karl. Karl is not a named defendant in that lawsuit.
“It was tough for me,” Myers said in a telephone interview last week. “It still is. I haven’t gotten over that, leaving Arn after 14 years. It was the hardest.”
Myers, 36, is a soft-spoken basketball player agent who has quietly served as Tellem’s right-hand man in supervising his large NBA player practice for years. On April 14, Myers was named assistant general manager of the Golden State Warriors.
Myers said he informed Tellem of his decision to leave Wasserman Media Group and join the Warriors three days earlier.
“A lot of people thought it was an easy decision for me,” Myers said. “The No. 1 reason it was difficult was that I was leaving him — not being able to see him on a regular basis, a guy who taught me most everything I have learned about the business.”
Myers said a major factor in accepting the Golden State job is the fact that he is from the San Francisco Bay Area and has family there. He is expected, in his new role, to succeed current Warriors General Manager Larry Riley in the next few seasons.
Myers started working for Tellem after graduating from UCLA, where he played on the basketball team as a forward. He graduated from law school, taking night classes, while working for Tellem during the day.
Myers’ NBA clients included Brandon Roy, the twins Brook and Robin Lopez, and Tyreke Evans. None of Myers’ clients is expected to leave Wasserman as a result of Myers taking the Warriors job.
“While it is bittersweet to see him go, I am filled with pride over his accomplishments,” Tellem said. “It is a wonderful opportunity for him to return home and a terrific opportunity for him to work for one of the premier franchises in the NBA, with a storied history and a very committed and enthusiastic new ownership group.”
Joe Lacob and Peter Guber acquired the Warriors last year.
Tellem said he does not expect to add an agent to replace Myers. “We have a deep group of talented agents,” he said.
Asked what it will be like when he has to negotiate with his new boss, Myers chuckled a bit nervously. “Oh man,” he said. “There are a lot of different words to describe what it will be like. It depends on who has the leverage, I guess.”
Said Tellem, “I will miss seeing him every day, but I look forward to that first moment when they [the Warriors] want to sign one of our players. The good thing is, I will get to have good meals with him in San Francisco.”
CSE SIGNS BOWEN, COUCH: Career Sports & Entertainment signed ESPN NBA analyst Bruce Bowen and Fox Sports college football analyst Tim Couch for representation. Bowen, a former NBA forward who won three championships with San Antonio, has been with ESPN since 2009. Former NFL quarterback Couch, who was the No. 1 overall draft pick in 1999, is a game analyst for Fox Sports South. They will both be represented by CSE coaches and broadcasters agent Mark Carmony.
EXCEL SIGNS NBA PROSPECTS: Excel Sports Management signed two prospects for June’s NBA draft, including projected lottery pick Kemba Walker of the University of Connecticut. Excel founder and NBA agent Jeff Schwartz will represent Walker. Additionally, Excel NBA player agent Mike Lindeman will represent Hofstra University point guard Charles Jenkins.
NFL PLAYERS, PROSPECT SIGNED: Rosenhaus Sports, the Miami NFL player rep firm owned by agents and brothers Drew and Jason Rosenhaus, signed New York Giants cornerback Bruce Johnson and Houston Texans offensive guard Kasey Studdard. … Octagon signed Chicago Bears wide receiver Earl Bennett for representation. Agents Doug Hendrickson and CJ Laboy will represent him. He was formerly represented by Bus Cook. … Lagardère Unlimited signed University of Alabama running back Mark Ingram for representation. Agents Joel Segal and Chafie Fields will represent him. Ingram previously was represented by agent Rocky Arceneaux.
Liz Mullen can be reached at email@example.com. Follow her on Twitter @SBJLizMullen.