Stoudemire sued by ex-business managers - East Valley Tribune: East Valley Local News

Stoudemire sued by ex-business managers

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Posted: Friday, November 27, 2009 12:25 pm | Updated: 12:58 am, Sat Oct 8, 2011.

Amaré Stoudemire is being sued by the managers of a firm who say they helped handle the business dealings of the Phoenix Suns star.

In legal papers filed in Maricopa County Superior Court, the owners of 360 Degrees LLC say Stoudemire and two corporations he set up owe them more than $154,000. That includes both professional fees and out-of-pocket expenses.

Attorney Dennis Roach who represents Stoudemire, declined comment.

According to the lawsuit, Michael Hodges began accompanying Stoudemire to various business meetings in August 2003. It also says that Hodges assisted Stoudemire with negotiation and completion of the player’s contract with Nike in the fall of 2005.

Finally, in 2005, Hodges and partner Lindsay Thelen formed 360 Degrees, which then entered into what the partners said were written and oral agreements with Stoudemire.

Provisions included development and protection of the player’s “brand,” review and negotiation of business and charitable agreements, arranging transportation, managing his media appearances and serving as his liaison to the marketing and public relations departments of the Suns.

For that, the lawsuit says, Stoudemire and his companies, the Amaré Stoudemire Foundation and Amaré Stoudemire Enterprises Inc., were supposed to pay $7,000 a month beginning in July of 2006, a fee that was boosted to $10,000 a month nearly a year later. The agreement, according to the legal papers, required the defendants to “fully and promptly” reimburse the company for all expenses it incurred.

During the 1½ years the agreement was in effect, the owners of 360 Degrees said they specifically negotiated, drafted and competed:

• The National Basketball Association 2006 “Cover Athlete” agreement between Stoudemire and Sony Computer Entertainment America Inc.;

• A similar agreement with Sony for 2008;

• An endorsement agreement between Stoudemire and Energy Brands Inc., a Coca-Cola subsidiary.

And attorney Oliver Beabeau, who represents 360 Degrees, said his client also performed other services, including the production and coordination of basketball camps and tournaments as well as a baby shower for Stoudemire’s daughter.

The lawsuit claims unreimbursed expenses of more than $119,000. It also says 360 Degrees advanced Stoudemire and his companies more than $67,000 for expenses to cover production and coordination of basketball camps and Stoudemire Foundation charitable and special events, only $15,000 of which was reimbursed.

And the $10,000 in management fees for the last month of the contract also were not paid, Beabeau states in the lawsuit.

The legal papers charge Stoudemire and his companies with breaching their contract and acting in “ bad faith.”

No date has been set for a trial.

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