GojiraCane
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- Dec 31, 2018
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As stated in the title, interesting article. Some of this makes me wonder if it will serve to actually slow down transfer portal movement, or indeed lead to players being forced to retire if their scholarships are not renewed (i.e. the legal language of the NIL forbids going to another school, yet their original school has released them from their scholarship).
Some key points:
NBC News has reviewed a dozen written offers to high schoolers that experts have described as exploitative, including marketing contracts claiming exorbitant commissions of up to 40 percent, and booster contracts with complex fee structures and legal jargon, reducing the athlete’s freedom to transfer or enter outside deals. One “contract” was actually just a $100,000 loan.
“I think a lot of us read all that and thought, is that really how this is done?” said Wigod. “Look at what it does to a young person in terms of exploiting them and taking advantage of them.”
“I think that is a very scary thing going down the road for young people to have in front of them.”
Among the exhibits in Cunningham’s filing were text messages, marketing materials, the anonymous complaint and Cunningham’s contract — an exclusive marketing agreement that claimed 20% commission on any money Cunningham’s brand might generate, even if Levels Sports played no part in the deal. The term was indefinite with a one-month opt-out clause, allowing agents to recoup expenses and enter deals on Cunningham’s behalf.
“It’s very clear that what they were trying to do was actually hook him in for his NFL career,” said Michael Caspino, Cunningham’s attorney, a well-known NIL dealmaker for five-star recruits. “That’s what a lot of these agents are trying to do.”
It makes me wonder if NIL - in some cases - will replicate this issue in MLB:
apnews.com
Some key points:
NBC News has reviewed a dozen written offers to high schoolers that experts have described as exploitative, including marketing contracts claiming exorbitant commissions of up to 40 percent, and booster contracts with complex fee structures and legal jargon, reducing the athlete’s freedom to transfer or enter outside deals. One “contract” was actually just a $100,000 loan.
“I think a lot of us read all that and thought, is that really how this is done?” said Wigod. “Look at what it does to a young person in terms of exploiting them and taking advantage of them.”
“I think that is a very scary thing going down the road for young people to have in front of them.”
Among the exhibits in Cunningham’s filing were text messages, marketing materials, the anonymous complaint and Cunningham’s contract — an exclusive marketing agreement that claimed 20% commission on any money Cunningham’s brand might generate, even if Levels Sports played no part in the deal. The term was indefinite with a one-month opt-out clause, allowing agents to recoup expenses and enter deals on Cunningham’s behalf.
“It’s very clear that what they were trying to do was actually hook him in for his NFL career,” said Michael Caspino, Cunningham’s attorney, a well-known NIL dealmaker for five-star recruits. “That’s what a lot of these agents are trying to do.”
It makes me wonder if NIL - in some cases - will replicate this issue in MLB:
Moneyball: Tatis took cash as prospect, owes part of fortune
NEW YORK (AP) — Fernando Tatis Jr...
apnews.com
