This is where he should get flamed by prosecutors pressing fraud charges against him. They are going to have a field day proving how he failed to disclose shaky nonbinding “commitments” as the funding base to the athletes & vendors who signed agreements with GST and passed off what were likely just conversations or “handshake agreements” as cash in hand. If he didn’t get the funding agreements contractually signed, or didn’t appropriately disclose the financial situation to the signing parties (athletes, agents, vendors), they are going to cook him like a Thanksgiving turkey in court.
MJ’s language is telling. He’s moping about an investor failing to “honor their commitment” which is a far cry from “aggressively pursuing an investor who signed a contractual obligation for an agreed-upon funding figure”.
There is a minuscule chance the athletes & vendors were informed and were as hypnotized as MJ was with GST being “the next big thing”, but decided to accept the risk in the hopes that it would work out. It’s possible that athletes like Noah Lyles and venues like Hayward Field saw these risks outlined and decided it was against their best judgement.
However I find it highly suspect to think all the athletes, vendors, and agents who signed agreements would have recklessly signed off on a document that appropriately addressed the serious risks associated. I also find it hard to believe that GST would have taken the time & care to hire competent attorneys who could craft documents with precise language to make all the parties aware of the risk. Everything we’ve found out about the GST organization has looked like a chaotic school project thrown together on the bus ride the morning it’s due. It would be shocking to me if they had they had their ducks in order and all of those athletes, agents and vendors simply took a gamble. It’s magnitudes more likely GST took the hasty risk and wasn’t being truthful about it, and have now been caught & exposed.