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Post by yousuck42 on Sept 18, 2014 11:03:34 GMT -5
I received an anonymous email today from, lets just say, a "friend".
The battle of words and contracts between Michael Dwyer and the USFL is far from over... Here's what I know...
1) Dwyer original sold the USFL to Jaime Cuada. Dwyer was suppose to receive a 3-year contract paying $100,000 per year. Dwyer never saw a penny. Records show no payment was ever made or cashed for these payments. 2) Jaime goes to jail for fraud and a new company with similar guys takes over. 3) Dwyer had stipulated in the contract that if Jaime was unsuccessful, the name and rights go back to him in 3 years... obviously this was not communicated to the new group. 4) The new group claims ownership and pushes Dwyer out, refusing to pay him anything. 5) Dwyer files with the State of California board to get face time with Bill Mitner and Jim Bailey.
LATEST 6) Jim sends an email to Matt Brown & Michael Dwyer stating that Michael's contract is not his issue and that Michael agreed by signing paperwork with Jim's group took over that instead of a consulting contract, game Michael Dwyer a 4% OWNERSHIP IN THE USFL
7) Michael emails back 7 minutes later and says.... If I own 4%, cash me out, because I want nothing to do with you guys. 8) Jim Bailey emails back and says he will think about it... then a couple days later, emails that he won't allow a buyout right now.
WTF!!! So it appears Dwyer wants to end this, but the USFL and Jim Bailey don't want to pay him out his 4%.... Looks like the USFL and Dwyer are at it again...
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phil
3rd String
Posts: 276
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Post by phil on Sept 18, 2014 11:29:25 GMT -5
What would four percent of this league be worth at the moment?
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Post by yousuck42 on Sept 18, 2014 13:21:58 GMT -5
That is the question Dwyer is asking.... and not getting ANY answers.
If the USFL doesn't have anything... it would be easy to say... Dwyer, here is 4% of what we have, here's a check for $40. If the USFL DOES have money though... wouldn't it be wiser to pay Dwyer off now (in the early stages of the business) with the cash on hand so you could FINALLY close this ordeal for good. I'd rather pay 4% of what I have now, then 4% later if you are successful and actually get funded/started. 4% now is worth less then what 4% later could be.
Plus the monkey finally gets off the back and no more hassles between the two parties.... Why does the USFL keep dragging this on???
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phil
3rd String
Posts: 276
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Post by phil on Sept 18, 2014 15:25:55 GMT -5
Oh, I don't disagree. If he wants cash out NOW (to make the lot payment on the trailer or whatever), it might be the best few grand the league has ever spent.
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