Terrell Owens Suing Former Agent Drew Rosenhaus
The relationship between former NFL WR Terrell Owens and Drew Rosenhaus has certainly soured since 2005, when Owens famously hired the splashy, smooth-talking shark of an agent. Owens is now suing Rosenhaus and his brother, Jason Rosenhaus, for a series of breaches of his contract including fraud, negligence, and a failure to properly protect and invest the former NFL wide receiver’s money.
Owens, who hasn’t suited up for a team since 2010, is seeking to recover over $6 million from the Rosenhaus brothers, according to Yahoo! Sports. Among the grievances, Owens claims to have been advised by Rosenhaus to seek financial guidance from bogus financial adviser Jeff Rubin, who lacked proper licenses, was emotionally unstable, and known to have been abusing illegal drugs. Rubin is also accused of stealing money and generating oversized commissions from Owens from poor investments suggested by Rubin.
Rosenhaus’ relationship with Rubin also allowed for the two to secure player investments in a failed casino project that lost nearly $40 million from 18 players represented by Rosenhaus. After recommending the failed casino project to Rosenhaus’ clients, Rubin was banned from working in the financial industry for life by the Financial Industry Regulatory Authority.
In September 2012, the NFL Players Association investigated the relationship between Rubin and Rosenhaus, however nothing further has been reported on the inquiry or if the relationship is still being investigated.
Owens fired his longtime agent in June of 2012. Ironically, it was T.O. and his longtime friend who sought out Rosenhaus as Owens’ representation when he met the agent at a celebrity-bowling tournament in Miami. In his book, T.O. was quoted, saying, “Fate was intervening,” when the opportunity to be represented by Rosenahus presented itself.
Owens’ first agent, David Joseph, represented Owens for nine years. He was let go after a highly publicized paperwork gaffe that nearly forced Owens to the Baltimore Ravens in a trade with the San Francisco 49ers after failing to file the proper paperwork on time that allowed Owens to become a free agent and sign with the Philadelphia Eagles.
As history goes to show, T.O. got his way and played in Philadelphia, voiding the final three years of his contract in San Francsico. However, time appears to have gotten the best of Rosenhaus and Owens, who both seem to have their best days behind them as the two battle in legal disputes.