Troubles mount for A-Rod as he grapples with further disputes over his SPAC deal, Latin American sellers accusing him of regret.
In an unexpected twist, a legal battle has erupted between Alex Rodriguez's Slam Corp. and satellite phone service provider Lynk Global. Slam Corp., a special purpose acquisition company (SPAC) founded by Rodriguez, has accused Lynk of attempting to terminate their $800 million merger agreement, breaching the agreement, and purposefully stalling the transaction to explore alternative deals.
The dispute, which was filed in Delaware court on June 19, 2025, alleges that Lynk is engaging in intentional foot-dragging regarding the merger. Slam Corp. seeks a court order to compel Lynk to complete the merger and to award damages to be determined by a trial.
Lynk Global, on the other hand, denies the claims, insisting it will vigorously defend itself and continue asserting its rights under the business combination agreement (BCA). The company emphasizes its focus on advancing its direct-to-device (D2D) satellite communication services and strengthening its competitive position.
The merger, if successful, would make Lynk a publicly traded company on the Nasdaq. However, most Slam shareholders have already redeemed their shares, leaving minimal funds in trust, which complicates the financial dynamics of the merger.
This legal dispute is not the first challenge faced by Alex Rodriguez in his pursuit of major purchases. A-Rod has previously faced a years-long battle to close on his purchase of the Minnesota Timberwolves, and this legal dispute with Lynk Global marks the second case of a major purchase being hit with a seller who seems to have changed their mind.
Slam Corp., which raised $575 million in its IPO during the peak of SPAC popularity, intended to find a sports, media, or health-related business to take public. Lynk Global, which recently raised $85 million in Series B funding from Intelsat and SES, two satellite communications firms, was the chosen partner for this merger.
However, Lynk Global has reportedly changed its mind after realizing its business is now more valuable than the $800 million valuation the deal offered. This change of heart has led to the current legal dispute, with both parties entrenched in litigation, and no resolution has yet been announced.
As the case progresses, the court is expected to publicly release Lynk's counterclaim details around July 7, 2025. The outcome of this dispute could potentially make or break the merger and set a precedent for future SPAC transactions.
People are closely watching the legal dispute between Alex Rodriguez's Slam Corp. and Lynk Global, as it might impact the future of investing in business ventures, particularly in the field of sports and finance. Lynk Global, amid these allegations, is emphasizing its focus on advancing its satellite communication services and maintaining its competitive position in the market.
