Would you follow through and pay? Brady's last TD

[Peter_Spaeth]

Originally Posted by Smarti5051

I see where you are coming from, but the statement was not ACTUALLY true at the time it was made, it was just not known to be false by any of the parties at the time it was made. The parties believed it would be the last touchdown at the time the contract was formed, but we now know all parties were unaware that the entire foundation for their agreement was based on a faulty premise. And, depending on the timing of Tom Brady's agreement to return, it is entirely possible that Tom Brady was not even legally retired at the closing of the auction, so even that material fact might have been false.

I think frustration of purpose could also work, but I think the easier path for the buyer's lawyer is to just use Leland's affirmative statements against it to void the contract.

That’s a good point On the timing.Indeed, I think your reasoning would also support mutual mistake. So will make all the arguments and prevail lol.

[Michael B]

Originally Posted by Peter_Spaeth

That’s a good point On the timing.Indeed, I think your reasoning would also support mutual mistake. So will make all the arguments and prevail lol.

In property law this is called condition subsequent. At the time of the sale the facts presented were correct. There was no false advertising as several have INCORRECTLY stated. It is an issue that arose subsequent to the transaction or presentation that changed the facts and thus how it moves forward.

The timing seems almost as if he knew about the ball and the auction. Despite his announcement we do not know if he filed his retirement papers with the NFL. If not, then the retirement announcement, was merely a grandiose proclamation. He stated more than once that he wanted to play quite a few more years. The man is not stupid. It could be a way to get more money out of ESPN or whomever was going to offer him an announcing contract. It may also be a way to keep Gronkowski in Tampa Bay. I believe he is looking at playing for the Bills.

[chriskim]

Team,

I think you guys are thinking too much. It is the same situation when u won a card from AH claiming... "The only PSA-10 and none higher" then the next day PSA pop shows up another PSA-10. It is simply a risk in our daily bidding life.

[SyrNy1960]

Originally Posted by chriskim

Team,

I think you guys are thinking too much. It is the same situation when u won a card from AH claiming... "The only PSA-10 and none higher" then the next day PSA pop shows up another PSA-10. It is simply a risk in our daily bidding life.

Except in this situation, the balls value decreases significantly, compared to your scenario.

[mrreality68]

Very interesting on many sides

But to me this was not unexpected. It has been in the news for months that he may comeback even if was next season after taking a season off.
As a result there was always that chance

The bidder know this when bidding so they took a chance and sadly it did not work out for them but to me they need to pay up.

When you buy a stock and the next day or so it crashes even if did not settle yet it still needs to be paid for at the higher value.

Same thing as mentioned above when the one of a kind card turns out to not be when another card or cards are discovered

But in reality big money and big potential loss for the buyer so it will be interesting to see what happens

[iwantitiwinit]

This could all be a moot point. The buyer may have already paid, I don't know how quickly Leland's sends out billings. I know I wire funds immediately so that I don't have open invoices out there. If so it would then turn into a case whereby the buyer is trying to reclaim funds.

[Tyruscobb]

I would argue that the sale price ($518k) reflected the risk Brady would return. That is - the risk was already baked into the cake, and is the reason the ball "only" went for $518k and not more.

Over a decade ago, Barry Bond's final homerun ball sold for $750k. Adjusted for inflation, in today's value, the $750k is worth over $832k. Thus, Brady's "final" TD ball sold for just 63% what the Bond's ball would fetch today.

In 1999, twenty-three years ago, a bidder paid $650k for Hank Aaron's final homerun ball (#755). Adjusted for inflation, in today's value, the $650k is worth over $1.1M. Thus, Brady's "final" TD ball only sold for less than half what Aaron's final ball would fetch today.

Like Aaron and Bonds, Brady is a legend and among the greatest to ever play. I know baseball's number are more sacred, but I would expect the true final Brady TD ball to sell close to par with Aaron and Bond's final balls.

The sports collectible market has only increased since the Bond's ball sale. Brady is the greatest QB, and perhaps the greatest football player. The fact his final ball only sold for fractions, when compared with Aaron and Bond's final balls, tells me that the bidding reflected the risk that Brady would come back. If bidder truly thought Brady would stay retired, the ball should've fetched near $1M.

If Brady stayed retired then $518k could have been an absolute bargain. The winning bidder took a gamble that didn't pay out. If Brady stayed retired, the bidder got a tremendous deal. If Brady came back, the bidder could back out and cancel? Where is the bidder's risk? Letting the bidder off the hook gives the bidder all the upside with absolutely no downside.

[SyrNy1960]

Since it was Tom Brady’s decision to un-retire, which caused this issue, he should be made aware of this and buy the football. Then he can sign and inscribe the ball as a TD ball and auction it off for charity. Winner, Winner, Chicken Dinner for everyone!