LeBron's agent says rookie tried to repay loan

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Another Day, Another Dollar
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CLEVELAND - LeBron James offered to repay a $148,000 loan to a businessman who gave financial help to the rookie's family while he was in high school.

However, James' agent, Aaron Goodwin, said he revoked any payment to Joe Marsh when the entertainment producer demanded more money.

"I wasn't going to allow him to hold LeBron hostage for any money," Goodwin said Wednesday. "It's not fair that someone would try and disgrace his name or target him because of his fame."

In a story published Wednesday in The Plain Dealer, Marsh said he lent James' father figure Eddie Jackson the money during the Cleveland rookie's last two years at Akron St. Vincent-St. Mary. Marsh said repayment of the loan was due June 1.

Jackson, who is serving a three-year prison term for mortgage and mail fraud, helped Gloria James raise her son, who was chosen by the Cavaliers with the No. 1 overall pick in this year's NBA draft.

Marsh told the paper that Jackson asked for the money to help support the James family and to pay for Jackson to meet with shoe company executives, who were in a bidding war to sign the 18-year-old star.

James eventually signed a $90 million deal with Nike.

Marsh, majority owner of Magic Arts & Entertainment in Aurora, said he didn't make the loan with the intention of being James' agent when he turned professional. But he said he did consider that it could open doors for him in other potential deals.

Goodwin said he had no knowledge of Marsh or the loan when the businessman contacted him in April, saying he was owed the money and wanted to be repaid with interest totaling $115,040.97.

Goodwin asked for documentation from Marsh, who sent him an agreement signed by Jackson. Goodwin said Jackson owed $148,000.

Goodwin said James wanted to clear up Jackson's debt and agreed to repay Marsh. But the agent asked Marsh to agree to keep the transaction private.

Marsh wanted more money and threatened to take his story to the media if he wasn't paid, Goodwin said. He would not say how much money Marsh wanted.

A phone message seeking comment was left at Marsh's office.

Marsh told the newspaper he asked to be paid an additional $25,000 he said he loaned a friend for a movie project about James. He said he later dropped that request.

Marsh, whose company represents magician David Copperfield and produces shows such as "Lord of the Dance" and "Grease, said he gave Jackson two checks totaling $50,000 in July and October of 2001 and then began issuing monthly checks for $2,500.

Goodwin said Marsh timed his allegations to coincide with James' pro debut on Tuesday night in an exhibition game at Detroit. James, the most hyped first-year player in NBA history, had eight points and seven assists in the Cavaliers' 100-96 win over the Pistons.

"He wanted to malign LeBron and his mom's name, to steal some of his thunder," Goodwin said.

Cavaliers general manager Jim Paxson said he was aware of the loan.

"We're confident that LeBron's representatives will handle this issue," Paxson said from Asheville, N.C., where the Cavaliers played a preseason game against the Atlanta Hawks.

For nearly two months, James' senior season was overshadowed by controversy.

The two-time national player of the year temporarily lost his eligibility when the Ohio High School Athletic Association ruled he had accepted two "throwback" jerseys as gifts.

The OHSAA also inquired into Gloria James' purchase of a Hummer sports utility vehicle for her son's 18th birthday. She provided bank records as proof she obtained a loan.

James won a state title - one of three with the Fighting Irish - as a senior, but OHSAA commissioner Clair Muscaro said his office will not conduct any new investigations because of the loan.

The OHSAA can not take any action six weeks after the end of a championship season, he said.

http://www.bayarea.com/mld/mercurynews/sports/6962358.htm
 

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