Jay Z’s Roc Nation Sports agency is facing a $20 million lawsuit after attempting to lure away boxer Demetrius Andrade despite already being signed with another promoter, a new lawsuit claims, according to the NY Daily News.
The publication reports that Bronx-based promoters Joe DeGuardia of Star Boxing and Artie Pelullo of Banner Promotions filed a $20 million lawsuit last Wednesday (July 29) in New York State Supreme court alleging that Jay Z’s Roc Nation Sports “intentionally interfered with an Exclusive Promotional Agreement” it has with Demetrius Andrade.
According to a copy of the complaint obtained by the NY Daily News, Andrade was offered $550,000 from Jay Z’s Roc Nation Sports to reject a fight that DeGuardia and Pelullo had negotiated with Showtime under the guise that Roc Nation would buy him out of his contract and become his new promoter.
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However, after pulling out of the Showtime deal, Andrade never received the money he was promised by Roc Nation, which also never purchased his contract from DeGuardia and Pelullo.
In addition, the lawsuit also names D.C. attorney Jeffrey Fried, alleging that he was involved in helping Roc Nation Sports sign Andrade.
The suit claims that together, Roc Nation and Fried “acted willfully, maliciously, recklessly, wantonly and with intent to injure Star Boxing and Banner Promotions.”
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According to the lawsuit, Joe DeGuardia and Artie Pelullo are seeking two causes of actions totaling “at least” $20 million in damages as well as punitive damages.
“Roc Nation’s promise to Andrade was made under false pretenses, namely, that Roc Nation was negotiating to purchase Andrade’s contract from the promoters and thereafter would negotiate a more lucrative bout for Andrade on HBO,” the lawsuit says. “Ultimately, Andrade agreed to Roc Nation’s false inducements and spurned the professional boxing match the promoters had negotiated with Showtime.”
Andrade—who was born in Providence, Rhode Island—has not competed since June 2014 and last Friday (July 31) was stripped of his WBO title for inactivity.
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To read the full story, please visit the NY Daily News.
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