This Week In Sports Law: Maria Sharapova Suspended, Darren McFadden Duped, Gawker Gutted?

By June 12, 2016Bitcoin Business

Maria Sharapova Sentenced To Two Year Ban One of tennis’ greats, Maria Sharapova has been suspended for two years by the International Tennis Federal (ITF) for testing positive for meldonium, a heart disease drug. The two year penalty was not longer in length because it was deemed that Sharapova did not intentionally use the banned substance. The ITF had prayed for a four year ban.

Sharapova will appeal the suspension. The Court of Arbitration for Sports will hear the appeal, with its decision binding on the parties.

Meldonium had become a banned substance as of January 1, 2016.

Darren McFadden Says He Lost $15 Million Because of Advisor

Darren McFadden has filed a lawsuit against his business advisor Michael Vick, not to be confused with the NFL quarterback, for allegedly misappropriating and mishandling his money, which includes $3 million that was squandered as part of investing in a Bitcoin business.

A big issue is a power of attorney that Vick possessed. The lawsuit does not make it clear as to whether Vick obtained this power to act on McFadden’s behalf with or without McFadden’s true consent.

The Complaint claims that Vick used McFadden’s money as a “personal slush fund to subsidize his own lifestyle and expenses.”

Gawker Crumbles At The Hands Of Hulk Hogan Gawker Media Group has filed for Chapter 11 bankruptcy, blaming its struggles on a $140 million jury verdict after being sued by professional wrestler Hulk Hogan. Fortunately for Gawker, it has already received an opening bid of $90 million for its assets.Hulk Hogan’s lawsuit was based on invasion of privacy when a sex tape was released on the Gawker platform. Gawker was not allowed to stall the $140 million judgment and felt it was left with no choice but to file for bankruptcy.It is expected that the bankruptcy auction […]

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