Nerlens Noel Sues Agent Rich Paul Over Contract Loss
Noel claims he lost $58 million due to Paul's advice
Lawsuit alleges Paul steered Noel away from lucrative contract extension
Former NBA center Nerlens Noel is suing his former agent, Rich Paul, over a free-agency decision that Noel says cost him $58 million. In a lawsuit filed in Los Angeles County Superior Court on Wednesday, Noel alleges that Paul steered him away from a four-year, $70 million contract extension with the Dallas Mavericks in 2017, costing Noel the opportunity to earn a maximum contract.
Noel was a restricted free agent in the summer of 2017, meaning the Mavericks had the right to match any offer sheet he signed with another team. According to the lawsuit, Noel initially agreed to a four-year, $70 million extension with the Mavericks, but Paul advised him to decline the offer and hold out for a maximum contract.
Noel followed Paul's advice and declined the Mavericks' offer. However, he was unable to secure a maximum contract from any other team, and he eventually signed a one-year, $1.7 million contract with the Oklahoma City Thunder.
In his lawsuit, Noel alleges that Paul breached his fiduciary duty to him by advising him to decline the Mavericks' offer. Noel also alleges that Paul was negligent in failing to properly advise him about the NBA's salary cap and free-agency rules.
Paul has not yet commented on the lawsuit.
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