Sure Sports offers financing and loans for MLB and NHL Players awaiting arbitration decisions and contracts. Financing of up to 10% of a player's projected market value or 30% of the team's submitted salary proposal is available.
Benefits of Arbitration Financing:
- Financing up to 10% of a player's projected market value or 30% of the team's submitted salary proposal
- Payments deferred until the player is in season
- Competitive interest rates, indexed to the prime rate
- Funds often available in 2 business days
- Once a contract is signed, the loan can be increased to up to 30% of the player's guaranteed salary
- Loss of Value Insurance Premium Financing
The Player's Request
Shortly after the conclusion of the 2016 MLB season, Sure Sports received a request to secure financing for a Pre-Arbitration MLB player. The Player requested a $325,000 loan, with the primary use of the funds going towards renovations on the Player’s offseason residence.
Subject to the MLB’s pre-arbitration rules, the Player’s 2017 MLB Salary will likely remain undetermined until mid-January of 2017. Typically, Sure Sports requires a signed contract be in place prior to underwriting any sort of bank-related financing, however, without a signed contract in place, Sure Sports turned toward it’s trusted and highly-esteemed General Counsel to assist them in getting a bank approval in short order.
Sure Sports has an Arbitration Memorandum prepared by its General Counsel, Heitner Legal. The memo provides insight into the total value of the MLB Contract that the Player will sign prior to the beginning of the 2017 MLB Season, along with an overview of the MLB Salary Arbitration process and the applicable qualifications / triggers that made the Player eligible for Arbitration. Based upon the memo, Sure Sports was able to have the Player’s loan request approved by 3 banks within 10 business days.