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A Delaware lawsuit accusing former NFL star and Pensacola investor Emmitt Smith of involvement in an alleged $2.5 million scheme is not expected to affect the Hard Rock project planned at Maritime Park, according to local officials and project stakeholders.
The suit alleges Smith and a business partner borrowed $2.5 million from Kituwah LLC, the economic development arm of the Eastern Band of the Cherokee Indians, for a renewable energy project in Texas and then used the money to repay a loan tied to another investment. Smith is an investor in the Pensacola Hard Rock development, but local leaders said his role is limited.
Local officials say Pensacola development remains on track
Pensacola businessman Quint Studer said Smith was "a very small minority investor" in the project and that the lawsuit will have "no impact whatsoever" on the development.
Mayor D.C. Reeves also said the city’s documents are signed by the Dawson Group, not Smith. That, he said, is the key point for the city as the project moves through its next phase.
For readers tracking the project itself, Reeves said dirt should start moving after the Blue Wahoos baseball season ends in October. Vertical construction is not expected to begin until next year.
What the lawsuit alleges
According to the report, the lawsuit was filed in Delaware and runs 40 pages. It accuses Smith and his business partner of conspiring in a scheme involving the $2.5 million loan from Kituwah LLC.
Studer said Smith does not believe the lawsuit has merit, while also saying he feels bad about the public attention the case has brought. Studer added that he generally gives people the benefit of the doubt when a lawsuit is filed because anyone can bring one.
At this stage, the key takeaway for Pensacola is that the legal dispute appears separate from the local Hard Rock project. Based on statements from the mayor and project backers, the development timeline described by city officials has not changed.
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Source: As reported by Hailey Samples.
