Lawsuit: D-Wade Conspired To Destroy Business

There was a time not terribly long ago that Miami Heat guard Dwyane Wade was considered one of the NBA’s most sought-after endorsers. He was a young superstar with a championship ring and a fairy-tale marriage to high school sweetheart Siohvaughn. He was seen as humble, pious, and telegenic; ESPN couldn’t get enough of the guy.

Dwyane Wade Sports Grill out of business

What a difference a couple of years makes. While Dwyane Wade the basketball player is stronger than ever, D-Wade’s life off the court has changed dramatically. His marriage has fallen apart in full view of the public, he’s been kicked to the curb by endorsement partners, and his investment deals have gone bust. Now comes word that Wade is facing a lawsuit regarding one of those failed deals, a (very) short-lived restaurant chain called “D-Wade’s Sports Grills”.

Back in February, SPORTSbyBROOKS first brought you the news about the failed restaurants (along with some pretty fun allegations about sex parties). Now the MIAMI HERALD reports that the accusations have moved from the gossip pages to the federal court docket:

Wade, a business partner and his agent are accused in a federal lawsuit of conspiring to either destroy or take over D Wade’s Place, a restaurant venture that operated in Fort Lauderdale and Boca Raton. The establishments, which operated under the name D Wade’s Sports Grills, closed weeks after opening last year.

LH Equity, the majority owner in D Wade’s Place, alleges Wade and others ”boycotted” the business after their request for a 30 percent stake in the venture was turned down. LH Equity is the successor in interest to 88 percent of the voting stock; Wade owns 10 percent; and his business partner, Marcus Andrews, owns 2 percent, the suit states.

For someone who has always been touted by the NBA and ESPN as being wise beyond his years, Wade continues to act like a spoiled baby. In 15 years, when ESPN9 runs a sad, soft-focus puff piece on Wade’s financial (and health) troubles after basketball, don’t be surprised. Just remember where you heard it first.