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Another Gator screwed by NIL

rascon said:
So is this contract ironclad and irrevocable?
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What do those buzzwords mean?

There will likely be an out of court settlement, where he will agree to pay something considerably less- possibly a lump sum or much lower percentage- thereby letting the other party collect a significant sum ASAP, and letting Dexter off the hook of a considerable percentage of his potential earnings.

The other side will want to avoid the ugly look of dragging this litigation on too long, and will be getting pressure from outside (collectives) to resolve. The player doesn't want to spend an inordinate amount of time, money, and energy on attorney's fees, or take the risk that a judge and/or jury would find the contract valid and enforceable (and they absolutely could do so).
 
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JeddTheFisch said:
What do those buzzwords mean?

There will likely be an out of court settlement, where he will agree to pay something considerably less- possibly a lump sum or much lower percentage- thereby letting the other party collect a significant sum ASAP, and letting Dexter off the hook of a considerable percentage of his potential earnings.

The other side will want to avoid the ugly look of dragging this litigation on too long, and will be getting pressure from outside (collectives) to resolve. The player doesn't want to spend an inordinate amount of time, money, and energy on attorney's fees, or take the risk that a judge and/or jury would find the contract valid and enforceable (and they absolutely could do so).
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But their entire business model is based on signing a few hundred or so athletes to these sort of deals, and then hitting big on the 5% or so that make it to the NFL.
 
GojiraCane said:
But their entire business model is based on signing a few hundred or so athletes to these sort of deals, and then hitting big on the 5% or so that make it to the NFL.
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Then it will be up to them to decide how much money, time, and energy to spend litigating, and to evaluate the reputational risk of doing so in terms of signing new clients.
 
pacusmc said:
So…. He broke the nil rules, he was ineligible, they’re gonna forfeit games, and he might still have to stick to that contract?
Whoever he signed the contract with has him by the gonads, if it ends up being ruled legally binding.
Maybe the lawyers can chime in after they stop laughing at my post and ignorance of the law.
I wonder if anyone who wrote that contract is a lawyer.
Because 25 years seems like an awful long time and there’s no way anyone has a 25 year nfl career. There might be some fine print that says that everything he does for the next 25 years may actually be because of his NFL status. So that includes endorsements, TV, commercials and depending on what state he’s in, maybe even a pension?
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Let's say Roman Reigns was unfortunate enough to sign that deal. He had brief stints with the Vikings and Jaguars in 2007 before turning to professional wrestling. Would Big League Advance take 15% of his WWE earnings from 2009 through 2032, as well as any film roles (Hobbs & Shaw)? Because they can argue that he "parlayed the NFL" into a wrestling career?

Or...

What happens if the player retires and becomes a coach? Like Byron Leftwich. He joined the league as a QB in 2003, and played until 2012. He became a coach in 2016. Does Big League Advance now accrue 15% of his coach's salary?
 
Ha, predatory Pay Day loans for athletes. Same scam, different sucker.

Based on how that tweet is written it seems like he's hoping to hide behind some provision in the state of Florida's NIL laws to protect him from this?

Definitely need to use this against the Gators in recruiting
 
CaneSinceForEver said:
Who TF was representing Him?
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He must've been represented by this law firm...
jamie foxx grammys GIF
 
Jfc
GojiraCane said:
Let's say Roman Reigns was unfortunate enough to sign that deal. He had brief stints with the Vikings and Jaguars in 2007 before turning to professional wrestling. Would Big League Advance take 15% of his WWE earnings from 2009 through 2032, as well as any film roles (Hobbs & Shaw)? Because they can argue that he "parlayed the NFL" into a wrestling career?

Or...

What happens if the player retires and becomes a coach? Like Byron Leftwich. He joined the league as a QB in 2003, and played until 2012. He became a coach in 2016. Does Big League Advance now accrue 15% of his coach's salary?
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Jfc!!
That would be horrible but he’s a gator so Fck em.
However, somehow I get the feeling that he’s not the only player that signed some ridiculous deal without any advisement.

This is the same thing that has happened in the music industry.

Some young artists have signed the dumbest contracts. That’s why I feal that he’s fcked.
Some singers or rappers have signed their life away with contracts giving control over their voice as well as name and image.
In other words they can’t even do a voice over commercial without giving money back to someone. And some of these contracts are like for 30 years.

@Rellyrell
Didn’t de La soul sign some ridiculous contract? Or was it another group.?
 
JeddTheFisch said:
If you're being offered a contract for over $400,000, you hire an attorney by any means necessary. The contract is morally repugnant, but failing to hire an attorney when that kind of money is on the line is absolutely not an excuse.
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Sure, man. But these aren't sophisticated, mature folks that understand this.
 
butchs'revenge said:
The attorney would have collected from any deal he signed, even if he recommended he not sign this one. I think players should get paid but not like this, handing millions to dumb 18 year olds in this wild west market is gunna lead to a lot of **** like this.
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Maybe, but maybe not. I'd have to look at the contract, but if cash isn't forthcoming right away, a player may not have the immediate cash flow to pay a lawyer $3,000-$5,000 to represent them in negotiations.
 
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He didn’t read the contract? His parents / handlers didn’t read the contract?

Call me cruel or whatever, but I don’t feel bad for this guy.
 
arizonacane said:
This is what happens when you sign contracts without reading them. His signature means he agreed to it!
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$435k NIL??? LOL....and he thought they wanted nothing in return? Should have read the fine print.
 
pacusmc said:
Jfc

Jfc!!
That would be horrible but he’s a gator so Fck em.
However, somehow I get the feeling that he’s not the only player that signed some ridiculous deal without any advisement.

This is the same thing that has happened in the music industry.

Some young artists have signed the dumbest contracts. That’s why I feal that he’s fcked.
Some singers or rappers have signed their life away with contracts giving control over their voice as well as name and image.
In other words they can’t even do a voice over commercial without giving money back to someone. And some of these contracts are like for 30 years.

@Rellyrell
Didn’t de La soul sign some ridiculous contract? Or was it another group.?
Click to expand...

Brother, let me tell u; in speaking w/ Scotty & Walt from The Whispers, the vast majority of the contracts these musicians sign are deplorable. It’s sad af, & the industry know who they can & cannot get away w/ that chit on. It’s y so many wind up broke. They don’t have a lot of ppl w/ their best interest in mind looking over; they see that quick, fast money & not realize how much they’ve indebted themselves to that label.

It’s sad seeing so many w/ platinum hits, selling millions of copies & get paid peanuts b/c they gotta pay back hella coin from things they had no idea of (but it was all in the contract)
 
Rellyrell said:
Brother, let me tell u; in speaking w/ Scotty & Walt from The Whispers, the vast majority of the contracts these musicians sign are deplorable. It’s sad af, & the industry know who they can & cannot get away w/ that chit on. It’s y so many wind up broke. They don’t have a lot of ppl w/ their best interest in mind looking over; they see that quick, fast money & not realize how much they’ve indebted themselves to that label.

It’s sad seeing so many w/ platinum hits, selling millions of copies & get paid peanuts b/c they gotta pay back hella coin from things they had no idea of (but it was all in the contract)
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And now these same agents are going after college athletes.
 
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seriously doubt this kid is the only one. wonder how many kids signed with them or a similar group. do they operate in miami?
 
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