Rumors are swirling that Former Yankees player Derek Jeter pulled out of an underwear deal when he learned that 50 Cent was going to be part of the deal also, citing 50 as being too “urban,” which is code for BLACK.
But isn’t Derek Jeter half black, you ask? That he is, and of course there is more to the story. Mathias Ingvarsson, a majority owner of Frigo, a men’s underwear company claims in a lawsuit that Jeter signed a 3-year publicity contract with the brand, but in 2013 when the underwear line approached rapper 50 Cent to come aboard, Jeter balked claiming 50 would make the brand too “urban.”
In retaliation, 50 Cent took to Instagram to say, “Wow, guess I’m not a Yankees fan anymore. LETS GO METS?”
Jeter handled things a bit more professionally and released a statement through Excel Sports Management:
“The allegations made by Mr. Ingvarsson of RevolutionWear are categorically false. I facilitated the introductory meeting between 50 Cent and the Company, so it makes absolutely no sense that I would object to 50 Cent being a Frigo brand ambassador or think that 50 Cent is “too urban” for the brand. Mr. Ingvarsson’s statements are particularly malicious because he knew all along that I never agreed to be a spokesperson or ambassador for the brand, and that is confirmed in documents that Mr. Ingvarsson himself signed. Contrary to Mr. Ingvarsson’s allegations in the press, I am unaware of any action commenced by the Company against me. Instead, I have been forced to file a lawsuit against the Company for its failure to fulfill its obligations to me as a substantial investor and creditor. That lawsuit is pending in a Delaware court.
It is unfortunate that Mr. Ingvarsson continues to make false claims and bad decisions with respect to RevolutionWear, Inc. As president of the Company, he was responsible for launching the Frigo brand, generating sales, and acting in the best interests of shareholders. When he failed in those responsibilities, and lost many millions of dollars of investors’ money and left many of the Company’s creditors unpaid, he came to me threatening litigation and a negative publicity campaign in an effort to get me to fund additional capital into the failed business. When I refused to do so, Mr. Ingvarsson and his affiliates made additional threats to commence litigation or arbitration against me in Sweden, but I am aware of no such actions or claims having been filed. At that point, I was forced to commence the current lawsuit in Delaware.
As a major investor, current stockholder and lender to the Company, I am disgusted by Mr. Ingvarsson’s decision to make these false allegations against me in the press, instead of attempting to work out our business dispute in private. I will take all necessary steps to prove these allegations to be untrue.”