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Aug 5, 2010

Texas Court Affirms $1.9 Million Binding Arbitration Award Against Superbike World Champion Ben Spies In Contract Dispute With Agent

A District Court in Dallas County, Texas today affirmed a binding arbitration award and entered a judgment ordering Superbike World Champion Ben Spies and Speez Racing LLC to pay agent Doug Gonda and his company Protac, Inc. $1.9 million.

Spies' legal team had claimed that the arbitration award was not binding and that the three-person arbitration panel had erred in its finding. The Texas court rejected those arguments and confirmed that Spies owes his former agent $1.9 million, based on 15% commission on 2009-2010-2011 sponsorship deals and contracts negotiated for Spies by Gonda.