Zion Williamson’s troubles continue.
Court documents reveal that Zion Williamson and his family are facing a lawsuit for breach of contract over an alleged failure to repay a $2 million loan.
The loan was obtained from Ankr PBC, who provided the funds to support Williamson’s real estate and family business ventures.
During negotiations for a sponsorship deal in May 2021, Williamson directed Ankr to work with his stepfather, Lee Anderson, for further business partnership discussions.
“While negotiations were proceeding, Ankr provided a variety of services for the benefit of Williamson, coordinated through Anderson. Ankr organized local media for community events and identified a physical trainer and a personal chef to provide services for Williamson. Ankr coordinated these arrangements directly with Anderson for Williamson’s benefit. Ankr also witnessed Anderson negotiating business deals with other prospective partners for the benefit of Williamson,” The lawsuit stated.
As negotiations progressed, Ankr offered various services, such as organizing local media events, arranging trainers and chefs, and facilitating Anderson’s negotiations with potential partners on behalf of Williamson.
In the midst of negotiations, Anderson requested a payment of $150,000, which was eventually made in June 2021, claiming it was necessary for his involvement in Williamson’s business relationship with Ankr.
Months later, Anderson approached Ankr for a $2 million loan to invest in Williamson’s interests, with a repayment deadline set for August 21, 2022.
Despite no formal loan documentation, both Anderson and Williamson assured repayment.
On the specified date, an extension was sought, and only $500,000 was paid off on April 25, 2023.
Anderson promised immediate repayment on July 7, 2023, but on July 24, 2023, Ankr sent notifications that $1,839,273.84 was still owed.
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