Menu
No Topic Name

Securities officials quiz Black

Just days after Florida and South Carolina law enforcement agents raided and searched the offices of William "Tank" Black, the Securities and Exchange Commission questioned the agent, who has been under fire regarding alleged recruiting violations and mismanagement of his clients' money.

Black's attorney, Leonard Mungo, acknowledged that Black, who represents close to 40 NFL players and one NBA player, met with SEC officials last Tuesday and answered questions about his role in his clients' investments.

On May 21, agents from the South Carolina Law Enforcement Division searched the Columbia, S.C., offices of Professional Management Inc., Black's sports agency. Eight agents, including members of the University of Florida Police Department and the Florida Department of Business and Professional Regulation, conducted the 11-hour search.

When the agents left at 1 a.m., they took with them a box of records and disks containing information copied from PMI's computer system, Mungo said.

University of Florida Police Department investigators are sorting through the seized material. Police department spokeswoman Stacey Badics wouldn't comment on what was collected.

The University of Florida Police Department issued a statement saying Black refused to be interviewed during the search, a claim Mungo disputed.

"Tank was talking like a deejay," Mungo said. "He went beyond the call of duty to provide information."

The search came two days after the NFL Players Association accused Black of several recruiting violations and improprieties involving his handling of "certain matters on behalf of players he represents."

Union officials wouldn't name any specific violations, but sources said the alleged violations included providing cash and cars to at least five college football players, attempting to bribe school officials and improperly being involved in his players' investments. Three of the players the union claims received payments from an associate of Black's, according to the sources, are former Florida players Jevon Kearse, Reggie McGrew and Johnny Rutledge.

Mungo said the May 21 search of PMI's offices was the first time any agency had contacted Black as part of an investigation.

The SEC has been conducting a yearlong investigation into sports agents and their involvement in clients' finances. The federal agency questioned Black but didn't take any documentation.

Kearse, McGrew and Rutledge fired Black after the April NFL draft. Attempts to reach them and their agent were unsuccessful.

Also, in an affidavit provided to the union, LSU running backs coach Mike Haywood said Randall "Banks" Menard tried to bribe Haywood and another LSU official on Black's behalf, sources said. Menard is a childhood friend of former LSU running back Kevin Faulk, one of Black's clients.

SBJ Morning Buzzcast: May 16, 2024

The NFL's big draws; Jones gets his own 10-part docu-series; Netflix's eye-opening NFL deal and the PGA set for big business weekend

NASCAR’s Brian Herbst, NFL Schedule Release, Caitlin Clark Effect

On this week’s pod, SBJ’s Austin Karp chats with our Big Get, NASCAR SVP/Media and Productions Brian Herbst. The pair talk ahead of All-Star Weekend about how the sanctioning body’s media landscape has shaped up. The Poynter Institute’s Tom Jones drops in to share who’s up and who’s down in sports media. Also on the show, David Cushnan of our sister outlet Leaders in Sport talks about how things are going across the pond. Later in the show, SBJ media writer Mollie Cahillane shares the latest from the network upfronts.

SBJ I Factor: Molly Mazzolini

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Journal/Issues/1999/05/31/No-Topic-Name/Securities-Officials-Quiz-Black.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Journal/Issues/1999/05/31/No-Topic-Name/Securities-Officials-Quiz-Black.aspx

CLOSE