Former baseball star Jeter sues maker of high-end Frigo underwear – CNBC
The brand’s celebrity affiliations include New York Knicks basketball star Carmelo Anthony and rapper 50 Cent. TMZ reported that RevolutionWear’s suit claimed Jeter objected to 50 Cent’s involvement because it would make the brand too “urban.”
50 Cent responded to the report of Jeter’s comment by posting a photo of him on Instagram and a message that said, “Wow, guess I’m not a Yankees fan anymore. LETS GO METS?”
Jeter invested hundreds of thousands of dollars in the company’s convertible promissory notes and joined its board of directors in 2011, said his suit, which was filed last week and made public on Wednesday.
Jeter, who played 20 seasons for the Yankees before retiring in 2014, arranged meetings with celebrities and potential business partners but never agreed to endorse products, according to the lawsuit filed in Delaware’s Court of Chancery. He said the company struggled to create a market for its products and was looking for someone to blame for its financial troubles.