Kaepernick’s SPAC Deal Implodes Just In Time For Christmas
Just like his career as a professional football player, a SPAC deal involving former San Francisco 49ers Quarterback Colin Kaepernick, who was infamously blacklisted from the league for taking a knee during the National Anthem, has fallen apart.
Is this another case of Kaepernick being punished for shining a light on America’s racial disparities? Before anybody rushes to judgment, the answer is a definite ‘no’. The real reason, according to the WSJ reporters who broke the story, is that Kaepernick balked at demands by executives in the target company that he stump for the merger by sitting for interviews, including on “Good Morning America”, and with ABC’s George Stephanopoulos.
Because of this, the deal is officially “dead”.
In a statement from Kaepernick’s erstwhile target, the Change Company, a lender in California that supposedly focuses on doing business with underserved borrowers, the bank said it would be willing to do business with Kaepernick. But they didn’t go as far as to deny that the deal had collapsed.
“The Change Company would proudly consider a partnership with Mr. Kaepernick – yesterday, today, or tomorrow,” the lender’s chief executive, Steve Sugarman, said in a written statement on Thursday that praised the former quarterback’s commitment to racial justice.”
Kaepernick is Mission’s co-chairman along with Jahm Najafi, who runs a private-equity fund and is a minority owner in the National Basketball Association’s Phoenix Suns.
Fri, 12/24/2021 – 16:00