Breitbart
Former NFL player Colin Kaepernick’s scotched multimillion-dollar business deal is raising doubts about his ability to sell his name, according to the company who parted ways with the protest leader. Kaepernick, who hasn’t played football since the end of the 2016 season which capped his year-long protest against the United States during the playing of the national anthem, has spent the last five years banking millions of dollars partnering with companies by simply lending his name to their causes and products. But this practice may be delivering diminished returns after financial services corporation, The Change Company, canceled its deal with the former player because he refused to engage in interviews to promote the collaboration, according to the Wall Street Journal. Kaepernick has made millions with his SPAC group by partnering with companies that only want to use his name to enhance their standing in the business world. An SPCA, or a special-purpose acquisition company, is an operation that has no specific product except a celebrity name. The purpose of the SPAC is to merge with a company that has an actual service or product line so that the celebrity name can help grow the business with which the SPAC merges. In this age of social justice activism, SPACs have proliferated at an accelerated rate as celebrities and athletes have sold their names for stacks of cash to businesses that then go out and use the celebrity as a sales tool.
