NFL legend Emmitt Smith SUED by investors over a massive loss of $67,000,000 from his restaurant business

Celebrity chef Rainer Schwarz has filed the lawsuit against multiple defendants.

NFL legend Emmitt Smith SUED by investors over a massive loss of $67,000,000 from his restaurant business

Emmitt Smith (Via Getty Images)

The Dallas Cowboys legend Emmitt Smith is one of the greatest running backs to ever play in the league. Smith, a legendary running back played in the NFL for 15 years with two different teams, the Cowboys and the Arizona Cardinals. He retired from the NFL back in 2005 and has been out of the league ever since. And now, Smith is facing legal issues due to a failed restaurant business in Las Vegas.

The NFL legend had plans to open an eatery named “Emmitt’s” at the Fashion Show Mall located in Las Vegas in 2022. But almost 2 years later, no restaurant has been opened which has allegedly led to eight figures loss for the investors. Celebrity chef Rainer Schwarz, who was tapped to be a partner in Smith’s new business venture, has filed the lawsuit against multiple defendants.

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In the lawsuit, Schwarz claims that his business partners have failed to deliver on their promises. According to the lawsuit, four different entities, including Schwarz agreed on a deal to work together on Emmitt’s back in 2021.

But now Schwarz has made an allegation that the people he was working with “arranged a conspiracy to steal the opportunity to open and operate Emmitt’s for themselves while cutting Chef Rainer LLC and Trilogy out of the deal entirely.”

Per the suit, the celebrity chef claims one of the defendants Valley Water Mill LLC purposely switched the locks to the restaurant to prevent the chef and some other partners from having access to the restaurant.

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Emmitt Smith USA Today
Emmitt Smith (USA Today)

According to the lawsuit filed by the celebrity chef Rainer Schwarz through Chef Rainer LLC, the Chef wants a maximum of $67 million in salary and profit sharing that his company is entitled to under the agreement.

The complaint, which was filed back in May 2023, also notes that, to date, Chef Rainer LLC has spent over $2 million in spending related to staff hiring, vendor contracts, and more.

However, the court documents report that only $1.1 million is yet to be reimbursed to the original investors as of now. The Cowboys legend Smith wasn’t named in the lawsuit, but his company was. His limited liability company is one of the entities that entered into an agreement with Chef Rainer LLC.

Emmitt Smith had a remarkable 15-year-long career in the league. During his career, he registered 8 Pro Bowl seasons and received 4 first-team All-Pro recognitions. He also won three Super Bowl rings in his legendary run. As a result of his accomplishments, he was inducted into the Pro Football Hall of Fame as a player back in 2010.

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