NFLPA Sues DraftKings Over $65 Million Dispute

The NFL Players Association (NFLPA) has filed a lawsuit against DraftKings, alleging the sports gaming giant breached a licensing agreement by refusing to pay approximately $65 million owed for using NFL players' likenesses in its now-defunct Reignmakers NFT project. DraftKings shuttered the Reignmakers program in July, citing recent legal developments, including a Massachusetts court's indication that the NFTs could be considered unregistered securities. The NFLPA argues that the cooling NFT market and DraftKings' 'buyers' remorse' are insufficient grounds for terminating the contract. The lawsuit highlights that five DraftKings executives have earned $261 million since 2021, which is about four times the amount allegedly owed to the NFLPA. Both DraftKings and the NFLPA have declined to comment on the ongoing litigation.