The Federal Bureau of Investigation (FBI) has initiated an inquiry into the financial operations of OneTeam Partners, a licensing firm co-founded by the Major League Baseball Players Association (MLBPA) and the National Football League Players Association (NFLPA) in 2019. The investigation aims to scrutinize the firm’s financial transactions and the extent of the unions’ involvement.
Background of OneTeam Partners
Established in 2019, OneTeam Partners is a collaborative venture between the MLBPA, NFLPA, and private equity firm RedBird Capital. The company’s primary objective is to manage group licensing rights and monetize athletes’ name, image, and likeness (NIL) across various platforms. Since its inception, OneTeam has played a significant role in negotiating media deals and creating revenue streams for athletes.
Details of the Investigation
According to sources familiar with the matter, FBI agents have contacted at least three players involved in union leadership roles to gather information about OneTeam’s financial dealings. It’s important to note that these players are not considered targets of the investigation but are being approached for their insights into the firm’s operations.
The investigation is being conducted by the U.S. Attorney’s Office for the Eastern District of New York, based in Brooklyn. While specific details remain confidential, the focus appears to be on understanding the financial relationships and transactions between OneTeam Partners and the associated players’ unions.
Responses from Involved Parties
In response to the investigation, OneTeam Partners issued a statement acknowledging awareness of the ongoing inquiry concerning their partners. The company emphasized that it is not the subject of the investigation and has not been accused of any wrongdoing. OneTeam expressed its commitment to cooperating fully with the authorities.
The MLBPA stated that it has not been contacted by federal agents but intends to cooperate fully if approached. Additionally, player leadership has reportedly retained separate legal counsel outside of the union to navigate the situation.
Implications and Industry Impact
The investigation into OneTeam Partners’ financial dealings could have broader implications for the sports industry, particularly concerning how players’ unions engage in business ventures. It raises questions about transparency, governance, and the management of collective licensing agreements.
While the investigation is in its early stages, it underscores the importance of clear financial practices and accountability within organizations that manage significant revenue streams on behalf of athletes. The outcome could influence future collaborations between players’ associations and commercial entities.