Uh-Oh

[Notch1320]

Rokit Leaves Trail of Millions in Deserted Deals, Lawsuits and Bankruptcies

In early 2019, the Oakland Raiders began courting an English-American company called Rokit as a founding partner for their soon-to-be Las Vegas home. By then, Rokit, with its primary product lines …

www.sportico.com

 

[Prestaged]

"This story is only available to subscribers."

 

[Luke Nieuwhof]

Google "12 ft ladder" and then paste the link to the Sportico article.
It's interesting reading.

 

[z28]

what a mess

 

[NitroLuver]

Are we allowed to post outside links? Think this is the same artile.

Rokit Leaves Trail of Millions in Deserted Deals, Lawsuits and Bankruptcies

This article was originally published by our sister site, Sportico. In early 2019, the Oakland Raiders began courting an English-American company called Rokit as a founding partner for their soon-t…

variety.com

 

[NitroLuver]

what a mess

Man, you ain't kidding brother.

 

[ZWeinstein]

Someone will have to dumb this down for me and probably re-explain but from what I gathered, Rokit has made numerous sponsorship agreements including namely NFL, NBA and F1 despite not having nearly enough of in liquid assets to come close to covering the amount. Rokit and Johnathan Kendrick sounds like they are using "creative accounting" to pass these lawsuits onto their subsidiary companies who quite a few have filed chapter 7. From what I read it seems like John Paul is what is keeping the parent company Rokit afloat and he has no involvement in the day to day operations?

 

[Butch]

Why do I have flashbacks of the TORCO dealings?

 

[Nappy]

Why do I have flashbacks of the TORCO dealings?

Although I don't see this hurting Alexis any ! The Torco deal hit a lot of NHRA racers.

 

[twostep]

Why do I have flashbacks of the TORCO dealings?

I was about to say the same thing. I hope the DeJorias aren't directly involved in this cluster...the old man just doesn't seem to be the kind who would do such a thing. With a net worth of nearly 4 billion, why would he.

 

[Ramjet]

I was about to say the same thing. I hope the DeJorias aren't directly involved in this cluster...the old man just doesn't seem to be the kind who would do such a thing. With a net worth of nearly 4 billion, why would he.

He probably loaned his name and influence to this guy (friend) and it came back and bit him. No good deed ever goes unpunished.

 

[Pete]

Although I don't see this hurting Alexis any ! The Torco deal hit a lot of NHRA racers.

...and sunk IHRA fuel racing. then eventually the series itself