Interesting NIL from Florida.

[DesertDawg]

NFL Rookie Gervon Dexter files lawsuit over NIL agreement, citing violation of Florida law

The Name, Image, and Likeness (NIL) laws, which were seen as a landmark moment for student-athletes, have already hit a stumbling block as former University of Florida football pla

www.marca.com

 

[Dawghouse]

That's disgusting. That has nothing to do with NIL and I hope he wins the case. That was a straight up exploitative loan under the guise of an NIL deal.
We'll give you 500K, you give us 15% of future earnings for 25 years. Player was dumb for doing it but it seems he's got a strong case for it being illegal.

 

[DesertDawg]

Definitely exploiting the player. Just curious how many schools are using this same deal as their NIL.

 

[greenbean.sixpack]

Reminds me of student loans, they need to be reformed/capped and bankruptable.

 

[11thEagleFan]

I honestly don’t feel that bad for him. He was greedy, needed that $436K “right now” and in exchange gave up 15% of his pre-tax (oof) NFL earnings. Also the name of the company is Big League ADVANCE. We have got to stop coddling these student-athletes. There are consequences for bad decisions.

 

[Dawghouse]

I honestly don’t feel that bad for him. He was greedy, needed that $436K “right now” and in exchange gave up 15% of his pre-tax (oof) NFL earnings. Also the name of the company is Big League ADVANCE. We have got to stop coddling these student-athletes. There are consequences for bad decisions.

I agree he was an idiot but laws were passed because everyone knew crooked agents would try this kind of crap and poor college kids would sign anything for some quick cash. How many college kids get in trouble with a credit card they signed up for to get a free shirt?

I'd force him to give back the loan amount while at the same time charging the "agents".

 

[T-TownDawgg]

FFS
Gainesville has enough payday loan joints

 

[goodknight]

How many more of their NIL deals may be in violation of state law? Things that make you go hmmmm.

 

[DesertDawg]

Big League Advantage shows two players from Arkansas,1-LSU, 1-Georgia among others. It’s clearly an advance on future earning potential but why did they market it as NIL? Very predatory lending feel to their model.

 

[UpTheMiddlex3Punt]

Just wait until a few of them discover it doesn't cover other leagues and switch to the CFL just to spite them.

 

[MStateU]

I guess I’m confused. They risked giving him $500k and he accepted their terms. Now that he hit it big he wants to not pay them off? Wtf? It was dumb of him to sign 15% of his future earnings, but he did it.

How is this going to go in his favor.

Sounds to me like they took a business risk and this one paid off.

 

[WrapItDog]

That's disgusting. That has nothing to do with NIL and I hope he wins the case. That was a straight up exploitative loan under the guise of an NIL deal.
We'll give you 500K, you give us 15% of future earnings for 25 years. Player was dumb for doing it but it seems he's got a strong case for it being illegal.

15% aint bad since his lawyer may take 33%**

 

[Dawghouse]

I guess I’m confused. They risked giving him $500k and he accepted their terms. Now that he hit it big he wants to not pay them off? Wtf? It was dumb of him to sign 15% of his future earnings, but he did it.

How is this going to go in his favor.

Sounds to me like they took a business risk and this one paid off.

FL passed laws making this illegal (or tried to), apparently there's some ambiguity in the law so who knows. If a dirty lawyer agent can find a loophole you know they will, and may have.

 

[Crazy Cotton]

I guess I’m confused. They risked giving him $500k and he accepted their terms. Now that he hit it big he wants to not pay them off? Wtf? It was dumb of him to sign 15% of his future earnings, but he did it.

How is this going to go in his favor.

Sounds to me like they took a business risk and this one paid off.

Had the same confusion - From what I could make of it from the article, the issue is they called that 500K NIL money. Maybe that gets them around some other issues like having an agent as a college player or whatnot. That in turn violated Florida's NIL laws, so we're were we are now.

 

[OG Goat Holder]

I have zero remorse.

 

[DerHntr]

NFL Rookie Gervon Dexter files lawsuit over NIL agreement, citing violation of Florida law

The Name, Image, and Likeness (NIL) laws, which were seen as a landmark moment for student-athletes, have already hit a stumbling block as former University of Florida football pla

www.marca.com

If they had not called it NIL, would this be illegal?

Also, would it have been against the previous NCAA rules before NIL?

This is some creative, sleazy check cashing level shi t.

 

[johnson86-1]

They do it for baseball players. Really not a bad deal. Players get a guaranteed payday and their “bad” scenario is they make it big and are not quite as rich but still very rich.