A Uniform Commercial Code filed in August 2014 ties the mother of suspended Kansas basketball player Cliff Alexander to a finance company that, according to its website, specializes in loans to professional athletes and agents, Yahoo Sports has learned.
On Aug. 25, 2014, a UCC filing was made in the state of Illinois under the name of Latillia Alexander of Chicago, Cliff Alexander’s mother. The filing is publicly accessible on the Illinois Secretary of State website. The securing party is listed as Ludus Capital of Delray Beach, Fla.
Among the types of financing extended by Ludus Capital, which has offices in Florida and New York: draft loans to potential high draft picks in the NBA and NFL. However, the loans are extended to athletes after they have declared for the draft. In August, Alexander was just starting his freshman year at Kansas.
Loans based on future earning potential can violate NCAA rules for student-athletes.
Registered NBA agents often work in concert with financial firms to secure money for families. These firms also recruit prospects independently.
Alexander missed his third straight game Saturday for what Kansas has called an “NCAA issue.” Multiple sources told Yahoo Sports on Thursday that the issue is a family member who may have received an impermissible benefit.
Alexander’s family took meetings with NBA agents during August, sources said. Discussions with agents for the purpose of gaining information on a player’s market value do not violate NCAA rules, but entering into a written or verbal agreement and receiving compensation is a violation.
Alexander has not yet been interviewed by the NCAA, sources said, though not because of a reluctance by either the school or NCAA investigators. Sources said legal counsel has been retained by the Alexander family and that may be slowing the investigative process.
Alexander will not be reinstated until after an NCAA interview occurs and a decision is made on whether benefits received by his family are impermissible. If it is ruled that a violation occurred, Alexander's eligibility for the remainder of the season could be affected.
Before he was sidelined by the NCAA issue, Alexander's playing time had plummeted in recent weeks. He played fewer than 20 minutes in seven of his last nine games, bottoming out a total of 27 minutes played in three games against West Virginia, TCU and Kansas State from Feb. 16-23. Alexander scored just 28 points in the month of February.