NEW ORLEANS — Zion Williamson and his family were sued for breach of contract after they allegedly failed to repay a $2 million loan, according to court documents.
Ankr PBC says they loaned the $2 million to Zion Williamson, his mother Sharonda Sampson, and his stepfather Lee Anderson to allow them to fund certain Williamson real-estate and family business needs.
Williamson discussed a sponsorship deal with Ankr in May 2021, and during negotiations, he told the company to work with Anderson for further negotiations on the business partnerships.
"While negotiations were proceeding, Ankr provided a variety of services for the benefit of Williamson, coordinated through Anderson. 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 lawsuit stated.
On May 15, 2021, during the negotiation process, Anderson asked to be paid $150,000, and Ankr paid him around June 9, 2021. Anderson said that the payment was required for him 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 that 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 two-week extensions to repay the loan.
Anderson paid off $500,000 of the loan on April 25, 2023, and he 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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