Zion Williamson reportedly sued for failing to repay $2M loan / News - Basketnews.com

Zion Williamson and his family were sued by Ankr PBC company for allegedly failing to repay a $2 million loan. On July 24, the amount owed was $1,839,273.84.

Credit: AP Photo/Gerald Herbert Credit AP Photo/Gerald Herbert

New Orleans Pelicans star Zion Williamson's problems off the court continue after he and his family were sued for breach of contract after allegedly failing to repay a $2 million loan, according to court documents.

Zion Williamson

Position:SF, PFAge:23Height:201 cmWeight:129 kgBirth place:North Carolina, United States of AmericaProfileNewsStatistics

Ankr PBC claimed that the company agreed to loan $2 million to Williamson, his mother Sharonda Sampson, and his stepfather Lee Anderson so the family could fund Zion's real estate and family business needs.

Williamson held discussions with Ankr about sponsorship in 2021. Back then, Williamson told the company to work with Anderson for further negotiations and business partnerships.

"While negotiations were proceeding, Ankr provided a variety of services for the benefit of Williamson, coordinated through Anderson," the lawsuit states. "Ankr organized local media for community events and identified a physical trainer and a personal chef to provide services for Williamson."

"Ankr coordinated these arrangements directly with Anderson for Williamson's benefit. Ankr also witnessed Anderson negotiating business deals with other prospective partners for the benefit of Williamson," the lawsuitcontinues.

On May 15, 2021, during the negotiation process, Anderson asked for $150,000, and Ankr paid him around June 9, 2021. Anderson said the payment was required to negotiate Williamson's business relationship with Ankr.

A few months later, Anderson requested a loan of $2 million from Ankr for certain investments for Williamson and the Williamson family.

Ankr agreed again and said it needed to be repaid by or before August 21, 2022.

"The Agreement was reached orally, and no loan documentation was prepared or signed by any of the parties at that time," the lawsuit said.

Williamson and Anderson both promised that it would be repaid.

On August 21, 2022, Anderson and Williamson requested a 2-week extension to repay the loan.

Anderson paid off $500,000 of the loan on April 25, 2023, and told Ankr on July 7, 2023, that he would immediately pay off the loan.

On July 24, 2023, Ankr sent a series of payoff letters, and the amount owed was $1,839,273.84.

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