Terrell Owens Suing Former Agent Drew Rosenhaus for Up to $6.5 Million
The rocky relationship between former All-Pro wide receiver Terrell Owens and his former agent, Drew Rosenhaus, has taken another turn for the worse, as Owens is suing the super-agent for up to $6.5 million.
According to Rand Getlin of Yahoo! Sports, legal documents have been obtained that state Owens is suing Rosenhaus and his brother, Jason Rosenhaus, for breach of fiduciary duty, fraud and negligence.
Getlin reports that the lawsuit stems back to Rosenhaus' recommendation that Owens allow Jeff Rubin to be his financial advisor. Rubin has since been banned from the securities industry after 30 players (Owens included) lost a combined $40 million in an illegal casino project that is now bankrupt, according to Kaja Whitehouse of the New York Post.
Among his accusations are claims that the Rosenhaus brothers knew that Rubin lacked the experience necessary to properly manage Owens' assets and that the brothers had a "mutual, reciprocal referral relationship" with Rubin.
Owens reportedly filed a lawsuit against Rubin back in January 2013, per Getlin and Jason Cole of Yahoo! Sports, but has proceeded with the suit against Rosenhaus for his failure to warn Owens about the red flags surrounding Rubin.
In June 2012, the star receiver dropped Rosenhaus as his agent in favor of Jordan Woy, saying he wanted "someone who believes in my ability to help an NFL team and believes in me as a person," per Calvin Watkins of ESPN Dallas.
Owens' case is just the latest example of how fast an athlete can lose the fortune that they amass while playing professional sports. According to Spotrac, Owens is the second-highest-earning wide receiver in NFL history with over $83 million in career salary.
That can disappear rather quickly when entrusted to the wrong hands, though. Owens will look to recoup some of his monetary loss with this lawsuit.
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