Latest news with #NezBalelo
Yahoo
2 days ago
- Business
- Yahoo
Shohei Ohtani is caught in a financial controversy — again
When you buy through links on our articles, Future and its syndication partners may earn a commission. In the last year, Shohei Ohtani has become as famous for the financial scandals surrounding him as he has for his ability to slug baseballs. Now the Los Angeles Dodgers superstar is embroiled in yet another financial scandal, this time involving allegations made about a real estate deal in Hawaii. In addition, Ohtani continues to deal with blowback from a gambling fraud incident that landed his interpreter a nearly five-year prison sentence. 'Threats and baseless legal claims' The latest scandal involves two Hawaiian real estate developers who are suing Ohtani and his agent. The lawsuit claims that Ohtani's agent, Nez Balelo, got the developers "fired from a $240 million luxury housing development [the Vista at Mauna Kea] on the Big Island's coveted Hapuna Coast that they brought [Ohtani] in to endorse" and build a home in, said The Associated Press. Balelo "increasingly demanded concessions" from the developers before allegedly "demanding that their business partner, Kingsbarn Realty Capital, drop them from the deal," said the AP. Ohtani and Balelo "exploited their celebrity leverage to destabilize and ultimately dismantle" the developers' "role in the project — for no reason other than their own financial self-interest," the lawsuit claims. The pair allegedly "used threats and baseless legal claims to force a business partner to betray its contractual obligations and strip Plaintiffs of the very project they conceived and built." The lawsuit is "completely frivolous and without merit," Kingsbarn told the AP in a statement. The company added that it "takes full responsibility" for removing the developers. Ohtani himself said he was "focused on what the team is doing" when asked about the lawsuit. Another scandal for Ohtani This is the second major financial scandal for Ohtani, who is widely considered one of the best baseball players in the world. His ex-interpreter was "sentenced to 57 months in prison for stealing nearly $17 million from Ohtani," said ESPN, in a controversy that had some initially questioning Ohtani despite his denial of any knowledge. This also comes in the aftermath of Balelo being "behind Ohtani's free agent deal with the Dodgers, which is one of the most lucrative — and management-friendly — contracts in MLB history," said NBC News. At the time, the deal was "reported to be the biggest contract in baseball history, at $700 million for 10 seasons." He is also set to earn "$100 million in endorsements in 2025 alone, tops among MLB players," said The Athletic. But despite the controversy around his finances, the lawyers currently suing him have "left the door open for Ohtani to have once again been a victim of someone in his inner circle bringing him legal trouble," said SFGate. It is "uncertain at this time whether his agent's alleged contractual interference and misdeeds were even known to Mr. Ohtani at the time, or whether he may have himself been misled by Mr. Balelo — but we aim to find out," attorneys for the developers said to the outlet. The status of the deal is unclear, but Ohtani's interest in Hawaii has been longstanding; The Wall Street Journal first reported in 2024 that he was looking to build a home in the state, which is a "beautiful blend of Pacific Ocean cultures" and a "special place — a place I will soon call home," Ohtani said in a press release. The Vista at Mauna Kea's website still lists Ohtani as "our first resident."
Japan Times
6 days ago
- Business
- Japan Times
Dodgers' Shohei Ohtani sued over $240 million Hawaii development
Los Angeles Dodgers superstar Shohei Ohtani and his agent are being sued for allegedly causing a real estate investor and a broker to be removed from their jobs with a $240 million luxury housing development in Hawaii. In a civil lawsuit filed in the Hawaii Circuit Court on Friday, developer Kevin J. Hayes Sr. and real estate broker Tomoko Matsumoto claim they were removed from the project amid interference from agent Nez Balelo and Ohtani. Hayes and Matsumoto contend their business partner, Kingsbarn Realty Capital, dropped them and are suing on the ground of tortious interference and unjust enrichment. They also contend that Balelo and Ohtani attempted to impact their involvement in a second development. Per the suit, Balelo sought concessions from Hayes and Matsumoto before demanding Kingsbarn fire them, which it did amid threats that Ohtani would back off his endorsement of The Vista at Mauna Kea Resort project. Hayes is a longtime developer, and Matsumoto was to be the listing agent. "Kingsbarn openly admitted ... that Balelo had demanded the terminations and that they were being done solely to placate him," the suit said. "Plaintiffs stand to lose millions of dollars in compensation tied to projected homebuilding profit, construction management fees and broker commissions." Ohtani was brought into the venture to lend his name for promotional value, but instead he and Balelo, according to the filing, "exploited their celebrity leverage to destabilize and ultimately dismantle Plaintiffs' role in the project — for no reason other than their own financial self-interest." A spokesman for Balelo's agency, CAA Baseball, declined to comment when contacted by the New York Post. The website of Kingsbarn Realty Capital details plans for The Vista at Mauna Kea Resort. It consists of 14 custom single-family homes built on 17 acres, with each home site offering a residence of more than 7,000 square feet and "unparalleled views of the Hawaiian coastline." It also is surrounded by two golf courses. The website says the homes will be marketed primarily to potential buyers in the U.S. and Japan and that Ohtani would be the first resident, having already selected his lot in the development, where the average home price is $17.3 million. Ohtani, 31, is the biggest star in Japan and wields considerable endorsement power. According to Forbes, Ohtani earned $60 million in endorsements in 2024. He signed a 10-year, $700 million contract with the Dodgers before the 2024 season and is a three-time Most Valuable Player. Ohtani was tied to another legal case last year when his former interpreter, Ippei Mizuhara, was accused of stealing nearly $17 million from Ohtani. Mizuhara pleaded guilty and was sentenced to 57 months in prison.
New York Times
6 days ago
- Business
- New York Times
Lawsuit accuses Shohei Ohtani, agent of interfering with $240 million Hawaii development
Two Hawaii-based real estate developers are suing Dodgers superstar Shohei Ohtani and his agent, Nez Balelo, claiming Balelo got them fired from a $240 million luxury housing project that was a decade-plus in the making. The lawsuit claimed that Balelo, employed by the Creative Arts Agency, conducted 'a calculated and unlawful scheme' to interfere with the development, of which Ohtani was a public-facing sponsor. He purchased a $17 million home in the development, part of the Mauna Kea Resort. Advertisement Balelo and Ohtani allegedly violated the developer's contractual rights by demanding concessions and with the subsequent firing of Kevin J. Hayes Sr. and Tomoko Matsumoto, according to the lawsuit. The claim was filed in Hawaii Circuit Court. 'This is just a very standard business dispute,' a person familiar with the defendant's side of the case told The Athletic. They were not authorized to speak publicly on the matter, citing the litigation. 'It's sad that someone would unfairly attack innocent parties as a way of distracting from their own bad behavior.' According to the complaint, Balelo issued an ultimatum to Kingsbarn Realty Capital LLC, the plaintiff's business partner, demanding Hayes' and Matsumoto's removal from the project, or they'd face potential retaliatory litigation centered around a violation of Ohtani's Name Image and Likeness rights. Kingsbarn did not respond to a request for comment. Josh Schiller, head of sports and gaming at Boies Schiller Flexner LLP, which represents Hayes and Matsumoto, said they tried to negotiate a resolution privately with the defendants, but were unable to resolve the matter. The plaintiffs claim that Balelo and Ohtani 'exploited their celebrity leverage to destabilize and ultimately dismantle Plaintiff's role in the project — for no other reason than their financial self-interest.' They'd been brought onto the project, according to the filing 'solely for Ohtani's promotional and branding value.' Balelo, Schiller said, was the only person that his clients dealt with. Though it remains unclear if Ohtani was aware of Balelo's alleged actions, Schiller said they intend to investigate. 'The agent was doing business on his behalf, so he's responsible for the agent ultimately,' Schiller told The Athletic. Ohtani signed a 10-year, $700 million contract with the Dodgers in December 2023, and went on to win his third MVP and first World Series in Los Angeles last season. Advertisement According to Sportico, he will earn $100 million in endorsements in 2025 alone, with the next highest – Aaron Judge and Juan Soto — each earning $7 million. The filing states that Hayes and Matsumoto conceived of the project in 2013, and that they were responsible for securing Ohtani's endorsement deal in 2023. They made this investment 'in hopes that Ohtani's star power would attract other high-net-worth individuals to purchase properties.' The plaintiffs allege that Balelo became 'a destructive force' by inserting himself 'into every aspect of the relationship.' They alleged that he responded to business matters with 'stonewalling and hostility,' while threatening default if he didn't get his way. 'Kingsbarn began capitulating to Balelo's every whim,' the plaintiff's lawyers wrote in the filing, noting that Hayes was essentially shut out of the project. On July 17, Hayes was removed as Managing Member and Matsumoto was fired as the listing broker, with Kingsbarn allegedly stating Balelo had demanded it. Large portions of the lawsuit are redacted. The plaintiffs filed a subsequent request to lift the redactions from the initial complaint, stating they 'pertain to information about the terms and conditions of certain contractual agreements' between Ohtani and the developers. Ultimately, Schiller believes that Balelo's alleged threats to counter-sue or default on the aforementioned contractual agreement were empty. 'I don't think they have a basis for that,' Schiller said. 'I don't think they have a basis to do that. There is no NIL breach here; they can allege one occurred, but evidence will show that was manufactured.' (Top photo of Ohtani and Balelo: Kirby Lee / Imagn) Spot the pattern. Connect the terms Find the hidden link between sports terms Play today's puzzle
Reuters
6 days ago
- Business
- Reuters
Dodgers' Shohei Ohtani, agent sued in $240M Hawaii development deal
August 12 - Los Angeles Dodgers superstar Shohei Ohtani and his agent are being sued for allegedly causing a real estate investor and a broker to be removed from their jobs with a $240 million luxury housing development in Hawaii. In a civil lawsuit filed in Hawaii Circuit Court on Friday, developer Kevin J. Hayes Sr. and real estate broker Tomoko Matsumoto claim they were removed from the project amid interference from agent Nez Balelo and Ohtani. Hayes and Matsumoto contend their business partner, Kingsbarn Realty Capital, dropped them and are suing on the ground of tortious interference and unjust enrichment. They also contend that Balelo and Ohtani attempted to impact their involvement in a second development. Per the suit, Balelo sought concessions from Hayes and Matsumoto before demanding Kingsbarn fire them, which it did amid threats that Ohtani would back off his endorsement of The Vista at Mauna Kea Resort project. Hayes is a longtime developer, and Matsumoto was to be the listing agent. "Kingsbarn openly admitted ... that Balelo had demanded the terminations and that they were being done solely to placate him," the suit said. "Plaintiffs stand to lose millions of dollars in compensation tied to projected homebuilding profit, construction management fees, and broker commissions." Ohtani was brought into the venture to lend his name for promotional value, but instead he and Balelo, according to the filing, "exploited their celebrity leverage to destabilize and ultimately dismantle Plaintiffs' role in the project -- for no reason other than their own financial self-interest." A spokesman for Balelo's agency, CAA Baseball, declined to comment when contacted by the New York Post. The website of Kingsbarn Realty Capital details plans for The Vista at Mauna Kea Resort. It consists of 14 custom single-family homes built on 17 acres, with each home site offering a residence of more than 7,000 square feet and "unparalleled views of the Hawaiian coastline." It also is surrounded by two golf courses. The website says the homes will be marketed primarily to potential buyers in the U.S. and Japan and that Ohtani would be the first resident, having already selected his lot in the development, where the average home price is $17.3 million. Ohtani, 31, is the biggest star in Japan and wields considerable endorsement power. According to Forbes, Ohtani earned $60 million in endorsements in 2024. He signed a 10-year, $700 million contract with the Dodgers before the 2024 season and is a three-time Most Valuable Player. Ohtani was tied to another legal case last year when his former interpreter, Ippei Mizuhara, was accused of stealing nearly $17 million from Ohtani. Mizuhara pleaded guilty and was sentenced to 57 months in prison. --Field Level Media
The Independent
6 days ago
- Business
- The Independent
Dodgers star Shohei Ohtani and agent sued over $240M luxury housing project
Los Angeles Dodgers star Shohei Ohtani and his agent are facing a lawsuit from a Hawaii real estate investor and broker, who claim they were unfairly removed from a $240m luxury housing development on the Big Island 's Hapuna Coast. Kevin J. Hayes Sr, an investor, and Tomoko Matsumoto, a broker, allege they brought Ohtani in to endorse the project but were subsequently fired. According to the lawsuit filed in Hawaii Circuit Court, Ohtani's agent, Nez Balelo, increasingly demanded concessions from the developers before insisting their business partner, Kingsbarn Realty Capital, remove them from the deal. The legal filing asserts: "Balelo and Otani, who were brought into the venture solely for Otani's promotional and branding value, exploited their celebrity leverage to destabilise and ultimately dismantle Plaintiffs' role in the project — for no reason other than their own financial self-interest." The suit accuses Ohtani and Balelo of tortious interference and unjust enrichment, also claiming they attempted to undermine the plaintiffs' interests in a second, neighbouring venture. A spokesman for Balelo's agency, CAA Baseball, declined comment on the allegations. Attempts to reach Kingsbarn officials for comment were not immediately successful. 'This case is about abuse of power,' the lawsuit says. 'Defendants used threats and baseless legal claims to force a business partner to betray its contractual obligations and strip Plaintiffs of the very project they conceived and built. 'Defendants must be held accountable for their actions, not shielded by fame or behind-the-scenes agents acting with impunity. Plaintiffs bring this suit to expose Defendants' misconduct and to ensure that the rules of contract, fair dealing, and accountability apply equally to all — celebrity or not.' Ohtani, 31, arrived from Japan in 2018 as perhaps the most heralded international star in baseball history, with an ability to both pitch and hit that made him doubly valuable to his team. A five-time All-Star and three-time Most Valuable Player, he signed a record 10-year, $700-million contract with the Dodgers before last season and helped the team win the 2024 World Series. Investment materials for The Vista at Mauna Kea Resort, which remained online on Monday night, listed Hayes and Matsumoto as part of the management team, along with Kingsbarn. It called Ohtani ' Japan 's Babe Ruth ' and the '1st Resident,' giving him top billing ahead of the iconic Mauna Kea Resort, 'one of the most celebrated hotels in Hawaii,' Hapuna Beach, 'rated the #1 beach in America by Conde Nast Traveler' and two golf courses – one designed by Arnold Palmer, the other by Robert Trent Jones Sr. 'Ohtani will act as the celebrity spokesperson for the project and has committed to purchasing one of the 14 residences within the project,' the brochure says. 'He also intends to spend significant time at The Vista in the off-season and will construct a small hitting and pitching facility for preseason training." The suit says the developers spent 11 years working on the deal and 'as part of a bold marketing strategy' signed an endorsement deal in 2023 with Ohtani, 'one of the most high-profile endorsements imaginable." 'This partnership with Ohtani will elevate the demand and create buzz within the Japanese luxury vacation home market, which is a primary target audience for the project," the investment brochure said. 'We see Shohei Ohtani 's homeownership as having a significant impact on the global exposure of the project and expect to accelerate the pace of sales, thereby helping us achieve our pricing objectives.' The suit said Balelo 'quickly became a disruptive force,' threatening to pull Ohtani from the deal if concessions weren't made. 'Kingsbarn began capitulating to Balelo's every whim,' the suit said. 'Over time, it became increasingly obvious that Kingsbarn was more concerned about preserving its relationship with Otani than honoring its obligations to its business partners.' Last month, in what the suit called 'a coordinated ambush,' Kingsbarn fired Hayes and Matsumoto. 'Kingsbarn openly admitted during the call that Balelo had demanded the terminations and that they were being done solely to placate him,' the suit said. 'Plaintiffs stand to lose millions of dollars in compensation tied to projected homebuilding profit, construction management fees, and broker commissions.'
