If you’ve followed former Green Bay Packers quarterback Brett Favre on Facebook or Twitter over the past several years, you probably noticed the posts actually came from elsewhere. They came from a site called Sqor, which Favre was both compensated by and had equity in.
You’d often see Favre wearing a Sqor shirt or hat. What was Sqor? It was a social media site specifically for athletes and their fans. So, just like Facebook, but only for athletes. Because we can’t just use Facebook.
Favre promoted the hell out of the site to consumers. He also, allegedly promoted the hell out of it to investors and that’s why he’s being sued. Specifically, Favre is being sued for allegedly helping to conspire with other business partners to fraudulently induce an investor to put in $16 million.
If true, this wouldn’t be the first time Favre conspired to do something fraudulent. See: “retiring” and then playing for the Minnesota Vikings. The old gunslinger isn’t necessarily the aww shucks dumb hick he portrays on TV.
From The Blast:
Callais Capital Management claims Favre and the executives of Sqor Sports made a series of negligent and fraudulent misrepresentations to induce CCM to invest.
CCM claims the $16 million was to be used to help Sqor “fund immediate international growth and allow the company to secure up to 10 major Sports Enterprises over the next six months.” CCM says they were made to believe the investment brought with it the promise of extremely high profits.
Despite representations that Sqor was expecting to raise up to $25 million through a round of equity capital, CCM says this was a lie. They claim the company provided a growth chart that “negligently and/or fraudulently misrepresented” their projected income for 2018 as $44 million.
Further, CCM claims that Sqor “materially misrepresented” they had over 325 million fans (users) and their social reach was over 350 million. They even claimed the Sqor “went so far as to misrepresent” their social media platform’s user growth metrics exceeded that of Twitter and LinkedIn.
To think that Sqor was worth $44 million and had 325 million fans is a bit laughable. Has anyone here ever seen another athlete other than Favre promoting Sqor? Has anyone here ever been to Sqor?
Here’s more from the claim:
Sqor even claimed to CCM other athletes — like Conor McGregor, Rob Gronkowski, Odell Beckham Jr., Allen Iverson and others — were using the network and were bringing in millions of impressions. The suit says none of the athletes were actually using Sqor and the millions in impressions was a lie.
CCM claims they did their due diligence on the site before investing, but I have serious doubts about that. One, if you can’t tell which athletes are and are not using the site, you deserve to be swindled. Two, do some research on those numbers. If you do and can tell me they were ever believable you, again, deserve to be swindled.
Your frickin’ due diligence sucks, CCM.
This should be interesting. Sqor is, predictably, now dead. I see no way Sqor could possibly show evidence of the numbers described in the suit. So the question then becomes, is there evidence that Favre or someone else actually presented them as fact?
