FTX Group advisers have scrutinized whether they can claw back millions of dollars paid to Shaquille O’Neal, tennis star Naomi Osaka and other professional athletes and teams that promoted Sam Bankman-Fried’s crypto platform before its collapse.
Financial advisers hired by FTX disclosed in court papers that they’ve analyzed if certain payments dished out to athletes before the company unraveled last November can be recovered in Chapter 11. Advisers have reviewed payments to O’Neal, Osaka and others to determine if the transfers are subject to rules that permit companies to reverse transactions that occurred just before a Chapter 11 filing, according to court documents.
‘Enforcement 40’ for 2020
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