The lawsuit centers around a sponsorship deal gone awry between Ronaldo and Binance.
Sources reveal that the dispute primarily revolves around Ronaldo’s alleged failure to promote Binance adequately, leading to a significant loss in the exchange’s investment. Let’s discover more about this news.
Cristiano Ronaldo will Pay to Avoid Trial?
In a bid to resolve the matter swiftly and discreetly, Ronaldo’s legal team is reportedly considering a settlement amounting to $750,000. While this figure represents a fraction of the total damages claimed by Binance, the football sensation may see it as a strategic move to sidestep a potentially damaging public trial.
The Portuguese footballing legend Ronaldo launched his own collection of NFTs through Binance, which has now been hit with a $1bn (£791m) class action lawsuit for his involvement in promoting non-fungible tokens.
Read more 🔗https://t.co/Ahlf29o3Sp
— Sky News (@SkyNews) December 1, 2023
The decision to settle is likely influenced by the desire to protect Ronaldo’s public image, which has been carefully crafted over the years. A public trial could expose personal details and potentially tarnish the football star’s reputation, even if he were to emerge victorious in court. This move might be a pragmatic move for Ronaldo, considering the cost, time, and uncertainty associated with a protracted legal battle.
More About Ronaldo’s Lawsuit
The Binance lawsuit serves as a reminder that even global icons like Cristiano Ronaldo are not immune to legal disputes, especially in the complex world of celebrity endorsements and sponsorship agreements. While the $750,000 settlement may be seen as a compromise, it could be a strategic choice to safeguard Ronaldo’s image and avoid prolonged legal proceedings that could overshadow his illustrious career on and off the football field.
JUST IN:
To avoid public trial in US, Cristiano Ronaldo May Have To Settle for $750K in $1 Billion Binance lawsuit
— Whale | Dinobet.io (@WhaleChart) November 30, 2023
As the negotiations unfold, the outcome will undoubtedly attract attention from fans, legal experts, and the business world alike. Shedding light on the intricate dynamics of celebrity endorsements and the high-stakes nature of such legal disputes.
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