Colin was the quarterback.
Slaven Vlasic is a photographer.
According to a report by The Wall Street Journal, an agreement for Colin Kaepernick's special purpose acquisition company to acquire a lender focused on underserved borrowers has fallen apart.
The deal to buy The Change Company was on course to be completed, but the deal collapsed last week because the quarterback wouldn't speak about it in public.
According to an internal document, the former 49ers quarterback refused to participate in interviews with ABC's "Good Morning America" as part of the launch of the program.
The Change Company was founded in order to expand access to lending and banking to people living in low-income communities. Mission advancement went public in March and raised $345 million to purchase a socially conscious company
A spokesman for Mission Advancement told the Journal that it will continue its work while it searches for a "great fit" for a merger in 2022.
Steven Sugarman, the CEO of The Change Company, said in a statement last week that the company would consider a partnership with Mr. Kaepernick.
Since kneeling during the national anthem to protest against police brutality and racism in the US, Colin Kaepernick hasn't played in the National Football League.
This year has seen a boom in blank-check companies set up to acquire private companies to take them public. The process is less time consuming than the traditional route of initial public offerings. Sports figures including Billy Beane, and politicians including Paul Ryan have backed a blank-check company.
Gary Gensler, the Securities and Exchange Commissioner, said he was concerned that SPAC investors don't have the same protection as investors in traditional IPOs.
Business Insider has an original article.
