Kurt Busch is being sued for $1.4 million by Sports Management Network, alleging the NASCAR driver and former Cup Series champion hasn’t paid his former representatives after terminating his deal with the agency last year.
Kurt Busch owes former agent $1 million, according to lawsuit
Busch is alleged to owe his former agency for back payments, plus additional fees related to attorney costs and future earnings.
Matthew O’Haren-USA TODAY Sports
The lawsuit, first reported by MLive.com, contends Busch owes $930,450 in back payments dating to March 2016 and an additional $540,000 related to Busch’s future earnings through the 2018 race season but is not yet due. SMN is also seeking to have Busch pay interest on monies owed in addition to its attorney’s fees.
According to the report, Busch abruptly ended his relationship with SMN in March 2016. Per the terms of their agreement, Busch was to pay SMN 10 percent of all revenue earned from a personal services agreement initially signed in 2005 then reworked in 2012. The deal was reworked after Busch left Team Penske, one of NASCAR’s top teams, and joined Phoenix Racing, a smaller team, which negatively affected Busch’s annual income.
Busch currently drives for Stewart-Haas Racing, which he joined in 2014, and has won 28 career races and the 2004 Cup championship.
The suit was filed in U.S. District Court in Michigan. SMN is located in Troy, Mich., and its client list includes Mario Andretti, Michael Andretti, Ryan Blaney, Brad Keselowski, and Team Penske.
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