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AMAZIN HOF COLLECTOR
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Major League Baseball Properties has filed a lawsuit against Upper Deck, claiming it hasn't received all of the money it was due under terms of a settlement reached between the two in 2010.
The suit comes almost exactly two years after Upper Deck agreed to pay $3.06 million to MLB on a payment plan over what baseball officials said was a $2.4 million debt from the last year of its MLB partnership in 2009. Upper Deck had also ruffled MLB feathers by releasing its first post-license set that wasn't completely devoid of team logos and trademarks. Under its newly exclusive agreement with Topps, that was prohibited. MLB sued in January of 2010 and settled with the California card maker just a few weeks later.
Most of the money has been paid, but MLB says Upper Deck fell behind in its installments in October of 2010 and never caught up. MLB is asking for what it's owed plus interest on the unpaid debt.
Upper Deck was to pay its debt in $300,000 increments from April through December of 2010, plus a $215,000 balloon payment by December 23, 2010. However, starting in October of that year, MLB says it received only $450,000 over the course of the next seven months, all in smaller than required payments. Lawyers for the organization say they haven't received anything from Upper Deck since May of 2011. MLB claims it is still owed $265,824.92 plus interest.
The suit comes almost exactly two years after Upper Deck agreed to pay $3.06 million to MLB on a payment plan over what baseball officials said was a $2.4 million debt from the last year of its MLB partnership in 2009. Upper Deck had also ruffled MLB feathers by releasing its first post-license set that wasn't completely devoid of team logos and trademarks. Under its newly exclusive agreement with Topps, that was prohibited. MLB sued in January of 2010 and settled with the California card maker just a few weeks later.
Most of the money has been paid, but MLB says Upper Deck fell behind in its installments in October of 2010 and never caught up. MLB is asking for what it's owed plus interest on the unpaid debt.
Upper Deck was to pay its debt in $300,000 increments from April through December of 2010, plus a $215,000 balloon payment by December 23, 2010. However, starting in October of that year, MLB says it received only $450,000 over the course of the next seven months, all in smaller than required payments. Lawyers for the organization say they haven't received anything from Upper Deck since May of 2011. MLB claims it is still owed $265,824.92 plus interest.
