Shaikin: How the Emmanuel Clase betting probe could lead to fans losing an investment
Clase is the star attraction at Finlete, a San Diego company that offers fans the chance to invest in an athlete in exchange for a share of his future earnings.
The future earnings of Clase, 27, a three-time All-Star, could be impacted by Monday's announcement that Major League Baseball had placed him on paid leave as part of what the league called a 'sports betting investigation.' The sport in question is baseball, according to an official familiar with the probe but unauthorized to discuss it publicly.
Read more: Guardians' Emmanuel Clase placed on paid leave as part of MLB betting investigation
In its offering statement, Finlete noted that Clase's current contract extends through 2026 and guarantees him at least $13.3 million, if the Guardians decline a 2027 buyout. The Guardians hold an option for $10 million in 2027 and another for $10 million in 2028. Clase would be eligible for free agency if the Guardians decline either option, or after the option years have been exercised.
However, if the league determines Clase had bet on any baseball game in which his team participated, he could be declared permanently ineligible. If the league determines he had bet on any other baseball games, he could be banned for one year.
On July 14, Finlete announced on Instagram that it had raised more than $315,000 from 'hundreds of investors in Emmanuel Clase's career.'
In its offering, beyond the boilerplate warning that investors should not invest money they could not afford to lose, Finlete cited injuries, illnesses and work stoppages among risks that could derail payments to investors.
Finlete also warned that players 'suspended or banned' from the league 'would not receive amounts under their existing player contract and may not be able to secure future playing contracts.'
Read more: Historical Horse Racing machines key to the sport's future in California are in peril
In his Clase sales pitch, Finlete co-founder Rob Connolly last year told Sportico: 'Mariano Rivera was the best ever. And this guy's in that conversation. So he's got a full career in front of him. How the hell did we land this deal? It's incredible.'
Finlete spelled that out in its offering: If you really want to make the big bucks as investors, Clase needs to sign a lucrative extension, or hit free agency and strike gold.
'The profitability of the Clase Agreement is substantially dependent on Mr. Clase entering into additional high-value MLB player contracts,' the offering read.
On its homepage, Finlete highlights seven baseball players with which it has agreements, Clase included. The other six are in the minor leagues.
Connolly did not immediately return a message seeking comment.
Read more: Orel Hershiser puts a bounty on his Topps one-of-one signed chrome card
Get the best, most interesting and strangest stories of the day from the L.A. sports scene and beyond from our newsletter The Sports Report.
This story originally appeared in Los Angeles Times.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
NFL employee 'seriously injured' in shooting at NYC high-rise where a gunman killed 4
NFL employees were told to shelter in place Monday evening as a gunman opened fire inside the New York City building that houses the league's headquarters, killing four and leaving another in critical condition. A league employee was critically injured in the shooting, NFL commissioner Roger Goodell said in a memo to employees that was obtained by ABC News. Via ESPN, Goodell said: "One of our employees was seriously injured in this attack. He is currently in the hospital and in stable condition. NFL staff are at the hospital and we are supporting his family. We believe that all of our employees are otherwise safe and accounted for, and the building has nearly been cleared." Per multiple media reports, the NFL sent an emergency alert to employees inside the high-rise at 345 Park Ave., advising them to shelter in place at the time of the shooting. 'Do not exit the building," the alert read. "Secure your location and hide until law enforcement clears your floor. Please switch phones to silent.' There was no indication Monday night that the shooter targeted the NFL or anybody associated with the league. The 44-story Manhattan building where the shooting took place houses multiple tenants, including accounting firm KPMG, investment firm Blackstone and real estate management group Rudin Management Company. NFL Headquarters has offices on floors 5-8 in the building. Off-duty police officer Didarul Islam was among those killed in the shooting, New York Mayor Eric Adams confirmed at a news conference Monday night. Islam, 36, was working security at the building at the time of the shooting. Authorities declined to immediately identify the other victims, pending notification of their families. Per Adams, two other men and one woman were killed in the shooting, and another man was hospitalized in critical condition, "fighting for his life." Adams confirmed that the shooter was also dead of an "apparent self-inflicted" gunshot wound. Citing security footage, NYPD commissioner Jessica Tisch described the scene of the shooting. She said the shooter exited a BMW double-parked outside of the high-rise while carrying an M-4 rifle. He then entered the lobby of the building and "immediately opened fire on an NYPD officer." "He then shoots a woman who took cover behind a pillar and proceeds through the lobby spraying it with gunfire," Tisch continued. "He makes his way to the elevator bank where he shoots a security guard who was taking cover behind a security desk." Per Tisch, he shot another man in the lobby before taking the elevator to the building's 33rd floor, which houses Rudin Management's offices. Rudin also owns the building. "He begins to walk the floor, firing rounds as he traveled," Tisch continued. "One person was struck and killed on that floor. He then proceeds down a hallway and shoots himself in the chest." Tisch announced that 27-year-old Shane Tamura of Las Vegas is the shooter's suspected identity. His motive was unclear in the immediate aftermath of the shooting. Police found a rifle case with rounds, a loaded revolver, ammunition and magazines in the BMW that he left behind. He traveled across the country starting Saturday before arriving in New York on Monday, shortly before the shooting, Tisch told reporters. "His motives are still under investigation, and we are working to understand why he targeted this particular location," Tisch said. Per Tisch, police believed that Tamura acted alone and there was no longer an active threat to the area.
Yahoo
18 minutes ago
- Yahoo
GOP Senator Roasted Over This 'Idiot' Take On Manhattan Mass Shooting
Sen. John Kennedy (R-La.) joined Fox News on Monday to dismiss legislation aimed at preventing gun violence just hours after a gunman killed four people in an office building in New York City's Midtown Manhattan neighborhood. Kennedy told Fox News' Sean Hannity that 'all you can do in a time like this is be sorry' for the victims of the mass shooting before predicting that some of his colleagues will call for more gun control laws on Tuesday morning. 'We've got hundreds of gun control laws, Sean. Maybe thousands,' he said. He later added, 'We don't need more gun control, we need more idiot control. And I don't know exactly how to do that but I do know this — I don't want to hear anyone feeling sorry for this guy who did this.' Elsewhere in the interview, Kennedy entertained the return of a 'more aggressive' version of the controversial 'stop-and-frisk' policing strategy in New York City, one that was found unconstitutional in 2013 as evidence showed it was used to frequently target Black and Hispanic people. Kennedy has been a gun control opponent and has received a 92% rating or higher from the National Rifle Association since his first successful Senate campaign in 2016, according to the nonprofit Vote Smart. Kennedy has resorted to his 'idiot control' line in response to several instances of gun violence over the years including the Apalachee High School shooting in 2024, the Boulder supermarket shooting in 2021 and the Parkland school shooting in 2018. Monday's slaughter in Midtown Manhattan joins the over 250 mass shootings in the U.S. in 2025, according to the Gun Violence Archive. There have been 8,590 deaths due to gun violence in the U.S. so far this year and 15,704 injuries. The motive of the gunman, who killed himself, remains unclear, officials said. Critics on social media clowned the senator over his call to action. Related... Gunman Opens Fire In Manhattan Office Building, Killing 4 Trump Caps His Scottish Visit By Opening A New Golf Course 'Yikes': Critics Claim Trump Let Out Epic 'Freudian Slip' About Jeffrey Epstein
Yahoo
18 minutes ago
- Yahoo
Eagles Super Bowl champion admits to some Tom Brady apprehension
Classic games often share similar ingredients. Huge stakes are helpful, but they aren't necessary. The bigger the stakes, the bigger the moment, though. The Philadelphia Eagles and New England Patriots once engaged in one of the best Super Bowls ever played. Ask Birds fans, and they may place it among their top two. It helps that the right team came out on top. An exciting and stressful affair offered a night we'll never forget. Super Bowl 52 certainly meets the criteria of a classic. Every masterpiece needs unforgettable scoring plays, a few twists, and great performances by its stars. On February 4, 2018, an underdog Eagles team hoped to topple perhaps the greatest quarterback, coach, and dynasty in NFL history. Chris Long makes his confession about his feelings on the Tom Brady mystique. One day, we'll all be old men and women. We'll tell the grandchildren about the 2017-18 Philadelphia Eagles. If you weren't paying attention then and think this current iteration is stacked with characters, you should do some research on that roster. Philadelphia, the NFC's top-seeded team during the postseason, was often treated as an underdog. They bought dog masks. Fans followed suit, and before you know it, the world's supply had evaporated. They had become impossible to find. One of the leaders of the charge was a former Patriot who had joined the Eagles. Long was recently a guest on the "Green Legion" Radio. Naturally, he was asked about winning a Super Bowl in Philadelphia and his affiliation with both organizations. As always, Long on the microphone provided magic. Before the Eagles took the field to play the Minnesota Vikings for the right to play in Super Bowl LII, he watched as much as he could of the New England Patriots vs. Jacksonville Jaguars clash in the AFC Championship Game. Long admits pulling for the Jags on that Sunday afternoon. He had seen the brilliance of Tom Brady firsthand, and he wanted no part of it two weeks later. He believed facing Jacksonville would provide a smoother ride to the Eagles' first Lombardi Trophy. We all know how that turned out. Ultimately, Long didn't get his wish, but the Birds got the job done. Honestly, that makes for a better story. Had Philadelphia played the Jags and won on football's biggest stage, Birds fans would have appreciated the win, but beating Tom Brady, Bill Belichick, and the Patriots dynasty means a little more, right? Think about it. To win the franchise's first championship since the NFL/AFL merger, they conquered the QB and coach often viewed as the best pro football had ever seen. To many, their Patriots dynasty is without equal, but on one night in 2018, they met their match. No, scratch that. They found a superior opponent. Long, now with the Birds, would hoist another Lombardi Trophy as green, white, and silver confetti fell. Were those of us who were watching a little apprehensive and afraid? You're doggone right! That's Tom Brady, man! Have you seen all of those clutch moments and all of that elite play? But a classic unfolded, one marked by a heroic performance from Nick Foles. This article originally appeared on Eagles Wire: Eagles Super Bowl hero confesses to Tom Brady intimidation
