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Anyone else concerned about Ruiz's alleged net worth?

AlexCane said:
I'm not sure that his net worth or the source of the funds matters that much. What matters is whether whatever deals he or his entities enter into with UM athletes is clean.
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True but the more in your face you are the more scrutiny it brings. people are going to make it their mission to bring us down. if you think the hate was bad before watch what is coming.
 
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colperm said:
You make some good points. I just have one question, what good does it do our program to post this?


Can we at least wait until after NSD to pick holes in our largest booster?
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My main concern is that either he's writing checks he's ultimately unable to cash, which makes the program look terrible at a time when they're trying to be out in the forefront of NIL deals (and which could impact recruiting).

I'm really not trying to be alarmist. It's just something that has stuck with me since reading the article last week. I have trouble seeing how a company that currently generates no revenue can be valued at $35-$50 billion based on the fact that it's merely filing lawsuits to recover Medicare funds that should have been paid by insurers in the past. Those claims may be worth quite a bit, but I don't see how the firm can generate more than the top-grossing firm in the entire world in a mere five years; it just seems completely unrealistic.
 
Tony4Miami said:
Has anyone actually asked them if this stadium deal is contingent on the SPAC deal happening or if they have money now??
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He’s probably going to use loans then use the revenue from all sources involved to pay off said loans. Just like any other gigantic business venture because believe it or not that stadium is going to be a gigantic business venture for him.
 
Katzenboyer said:
My main concern is that either he's writing checks he's ultimately unable to cash, which makes the program look terrible at a time when they're trying to be out in the forefront of NIL deals (and which could impact recruiting).

I'm really not trying to be alarmist. It's just something that has stuck with me since reading the article last week. I have trouble seeing how a company that currently generates no revenue can be valued at $35-$50 billion based on the fact that it's merely filing lawsuits to recover Medicare funds that should have been paid by insurers in the past. Those claims may be worth quite a bit, but I don't see how the firm can generate more than the top-grossing firm in the entire world in a mere five years; it just seems completely unrealistic.
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I hear you and I'm sure many would share your concerns, in private.
 
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We the Boss said:
If he closes the spac deal he’s sitting on boat a load of cash. Key is closing.
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Right. If the SPAC deal closes, it's really money. But it hasn't yet, and the valuation seems entirely unrealistic for that to actually happen.

Believe me, I want it to. I respect Ruiz and the niche he's found in the legal market. But it's just a niche; he's not sitting on some kind of technical revolution that will re-invent the practice of law, which is my main concern with the valuation numbers.

If those numbers were truly real, and not just funny money, why hasn't Kirkland & Ellis (a firm that actually does generate billions in revenue) go public via a SPAC? Why not Akerman? Holland & Knight? Debevoise & Plimpton?

It feels too good to be true.
 
No I’m not worried and quite frankly don’t care. Do you think these other schools “care” about how their booster make their money ? So why should we this is Miami to expect a millionaire/ billionaire booster to sit in the cut and no one knows who he is just isn’t the Miami way
 
Katzenboyer said:
My main concern is that either he's writing checks he's ultimately unable to cash, which makes the program look terrible at a time when they're trying to be out in the forefront of NIL deals (and which could impact recruiting).

I'm really not trying to be alarmist. It's just something that has stuck with me since reading the article last week. I have trouble seeing how a company that currently generates no revenue can be valued at $35-$50 billion based on the fact that it's merely filing lawsuits to recover Medicare funds that should have been paid by insurers in the past. Those claims may be worth quite a bit, but I don't see how the firm can generate more than the top-grossing firm in the entire world in a mere five years; it just seems completely unrealistic.
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My man like I already posted, men like him make millions in other ventures outside of this one. This is just probably his most lucrative one.
 
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A number of solid points by all. Let me add the following:

1. Paying players is now legal ( at least until NCAA is abolished or has power to make rules😂.
2. Ruiz is flamboyant and very “look at me,” but who cares if he delivers. Don’t think Boone Pickens or Phil Knight did not want everyone to know what they did for ok state or Oregon.
3. Let’s say he is FOS, what’s the downside, as all NIL is approved by compliance?
4. The stadium issue is irrelevant. If it is built then great, if no, Hard Rock works.

What is the concern here? As a lawyer myself, I know Ruiz values his bar license above all, and despite pushing the envelope he would not do anything to risk that liability.
 
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Canesfreak said:
If the SPAC deal actually closes, he should be fine. SEC is currently reviewing the S-1. Again, the patent is unbelievable if it can work for large insurance companies - Humana, Blue Cross, etc. - it will save them hundreds of millions by avoiding double payments, overpayments, etc. Long term, I could care less how it works though - he will monetize it once it closes. Then it is up to the NewCo to generate revenue.
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Ruiz doesn't own a patent. He has no physical product to sell.

The value of his firm is that he files claims against large insurance companies who should have been charged for money paid by Medicare.

Those claims are valuable, but they aren't revolutionary, and I have a hard time seeing how they'll generate enough revenue to make him effectively the most lucrative law firm in the country in five years' time (which is what is being projected currently).

And that's before we even get into Sternberg, who seems to have trouble follow him after every investment Lionheart makes.
 
CaneSince93 said:
ALSO his family has already made money outside of this deal. And have other investments let’s stop trying to dig into the guy finance like we’re the FBI
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Any multi millionaire has a ton of streams when it comes to income.
 
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Katzenboyer said:
Right. If the SPAC deal closes, it's really money. But it hasn't yet, and the valuation seems entirely unrealistic for that to actually happen.

Believe me, I want it to. I respect Ruiz and the niche he's found in the legal market. But it's just a niche; he's not sitting on some kind of technical revolution that will re-invent the practice of law, which is my main concern with the valuation numbers.

If those numbers were truly real, and not just funny money, why hasn't Kirkland & Ellis (a firm that actually does generate billions in revenue) go public via a SPAC? Why not Akerman? Holland & Knight? Debevoise & Plimpton?

It feels too good to be true.
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But that's his problem. Not ours.
 
JayCane20 said:
He’s gonna be a billionaire whether it goes through or not. The company can easily support that valuation.

Whether his $30-40+M valuation holds up in this SPAC or not I don’t know. Seems a little off but it should be resolved soon I know they had a Q4 2021 estimate last time I checked for a resolution
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Exactly. Any man of his stature in the business should understand the fiscal growth on his own product. He’s not going to be spending this cash unless there’s something solid behind. He’s not some 18 year old living off the trust fund his Dad left.
 
I hope somebody at UM learned from the Nevin situation and will nudge Mr Ruiz off the spotlight. The NCAA does not play fair. We really shouldn't be poking that bear.

I love what he's doing for the school, but I don't see anyone else (boosters) tweeting NIL deals. Or, publicly going after former administration, who happen to be working in Washington now.

I'm really unsure of Mr. RUIZs long term goal, and save me the 'he just wants Maimi football back on the map' bs. Maybe I'm being overly spectical but Mr RUIZ is investing alot of money in sfla football. With Nevin, we found out later that he started some sports management business after gaining access to players. I'm definitely not accusing RUIZ of anything. I would just like to know what he expects for ALL the money he's throwing around. And, if he wants nothing in return, then what's with some of the attention seeking behavior we're seeing?
 
colperm said:
You make some good points. I just have one question, what good does it do our program to post this?


Can we at least wait until after NSD to pick holes in our largest booster?
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Attention and to bump the thread if he’s right later.
 
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