A Uniform Commercial Code filed in August 2014 ties the mother of suspended Kansas basketball player Cliff Alexander to a finance company that, according to its website, specializes in loans to professional athletes and agents, Yahoo Sports has learned.
On Aug. 25, 2014, a UCC filing was made in the state of Illinois under the name of Latillia Alexander of Chicago, Cliff Alexander's mother. The filing is publicly accessible on the Illinois Secretary of State website. The securing party is listed as Ludus Capital of Delray Beach, Fla.
Among the types of financing extended by Ludus Capital, which has offices in Florida and New York: draft loans to potential high draft picks in the NBA and NFL. However, the loans are extended to athletes after they have declared for the draft. In August, Alexander was just starting his freshman year at Kansas.
Loans based on future earning potential can violate NCAA rules for student-athletes.
Registered NBA agents often work in concert with financial firms to secure money for families. These firms also recruit prospects independently.
Alexander missed his third straight game Saturday for what Kansas has called an "NCAA issue." Multiple sources told Yahoo Sports on Thursday that the issue is a family member who may have received an impermissible benefit.
This post was edited on 3/8 9:28 AM by kcjcjhawk
http://sports.yahoo.com/news/public-filing-ties-cl
On Aug. 25, 2014, a UCC filing was made in the state of Illinois under the name of Latillia Alexander of Chicago, Cliff Alexander's mother. The filing is publicly accessible on the Illinois Secretary of State website. The securing party is listed as Ludus Capital of Delray Beach, Fla.
Among the types of financing extended by Ludus Capital, which has offices in Florida and New York: draft loans to potential high draft picks in the NBA and NFL. However, the loans are extended to athletes after they have declared for the draft. In August, Alexander was just starting his freshman year at Kansas.
Loans based on future earning potential can violate NCAA rules for student-athletes.
Registered NBA agents often work in concert with financial firms to secure money for families. These firms also recruit prospects independently.
Alexander missed his third straight game Saturday for what Kansas has called an "NCAA issue." Multiple sources told Yahoo Sports on Thursday that the issue is a family member who may have received an impermissible benefit.
This post was edited on 3/8 9:28 AM by kcjcjhawk
http://sports.yahoo.com/news/public-filing-ties-cl
