Former NFL player Al “Bubba” Baker had an appearance on the popular American business program Shark Tank in 2013. Bubba’s Q Boneless Baby Back Ribs, his company at the time, required funding to remain afloat. He was reluctant to show up at first, but his daughter persuaded him to do so.
He later won over the panelists, and after what seemed like an endless round of haggling, he agreed to accept Daymond John’s $300,000 offer in exchange for a 30% ownership in his business.
The Los Angeles Times reports that within three years, Baker’s company was marketed on the program as one of the biggest Shark Tank success stories, bringing in $16 million in revenue.
Baker claims that the revenue that was made public was not even close to what he actually earned. He claims that he has only collected $659,653, or about 4% of the business’s reported income.
The father-daughter team also claims that they were kept in the dark about the company’s finances and received only $553.35 in earnings from January through March of this year.
What began as Baker and his daughter’s “Shark Tank” dream, in their words, “has been a nightmare.” He charges John with deceiving them as well as attempting to take over their company and depriving them of the proceeds from potentially profitable alliances.
He told the Times that up until last month, John and his agents had stopped speaking with them.
Meanwhile, in 2019 Rastelli, a manufacturer John recommended, filed a suit against Baker for putting a hold on dealings until accounting issues were settled. This has left the Bakers with $171,000 to pay in attorney fees.
The Times reports that Baker has “shuttered his restaurant; after renting out his house, he was forced to sell it at a loss, and his truck was repossessed.”
Baker notes that he was blinded by the idea that he was going to make millions if he appeared on Shark Tank and got an investment. He also expressed his disappointment at John, who he considered “family.”
“I was super proud of my relationship,” he said. “I just never expected economic marginalism from another African American.”
Meanwhile, in response, John said he has lost money on his investment and denied taking advantage of the ex-NFL player.