Free market, capitalism at work. I’d say let it rip.
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Meanwhile, the professors are preaching to students about socialism while athletic departments are teaching students about capitalism.
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I want a sweet NIL deal for future posts on this board. 
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That and he wasn’t going to start here
Agree it is what it is and the college game will never be the same.
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I sure hope they tell this punk to walk.
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Didn’t he make the first statement?? Or wasn’t he quoted…
It was his agent. From NY Post article:
Thursday night, the New Jersey native and all-ACC player’s agent spoke to ESPN, and demanded his deal with a Miami booster be increased or he would consider a transfer.
Headline from ‘spoke to ESPN’ link:
NIL agent says Miami hoops star Isaiah Wong will enter transfer portal if NIL compensation isn’t increased
Idiot.
He was extorting a local business person publicly. This is predictably and understandably blowing up in his face. The law of cause and effect. I’m loving it.
“Dear TaylorMade,
I will be going to the Saudi Golf League if you don’t pay me more to wear your stuff.
Signed Jon Rahm”
Dear Jon,
We don’t give a #%. You’re under contract. Have fun in Riyadh.
Signed TaylorMade”
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Good lord. Making a demand when trying to renegotiate a contract is not extortion. The player has every right to withdraw his/her services if conditions are not met. And they also reserve the right to change their mind or change course once they see if their conditions will be met or not. Players are going to have a lot more power. Coaches and institutions will adapt accordingly.
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What conditions?!?!?
He signed a contract with a third-party, not with the school. He’s threatening to leave one party if the third party doesn’t accede to his demands.
The contract says exactly what the conditions are. They aren’t a fluctuating set of estimates based on his current valuation of himself. And the school isn’t party to the contract.
Me thinks someone didn’t read the entirety of the contract they signed in relation to clauses like “amicable”…”considering the best public interest of LifeWallet”, etc.
He’s an idiot. Or he hired an idiot as his agent. In which case he’s an idiot by association. He hurt his reputation and he told anyone that deals with him in the future he’s a risky contractural partner.
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Or just that he’s 21 years old. It really isn’t that deep.
The contract is contingent on him being a player at Miami. So his point of leverage being a good player that’s a fan favorite at Miami is what he used to try to bring Life Wallet to the bargaining table to up the contract value. It didn’t work and was clumsily executed. That’s it.
All this means is that agents will get savvier and start including renegotiation clauses and performance bonuses into NILs.
At this point they should cap it.
Today I informed my employer that I will be going to the competitor if Coogfans doesn’t give me a paid moderator position.
I’ll let you guys know how it goes.
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Well if that is the case should every student at the university have a cap for their private job as well?
Every job has an average pay. Most people with first time or private jobs get paid and average or a standard.
In this case right now people want certain players. But what that has been showing donors is their money does not guarantee commitment. So then paying less or learning from each other is bound to happen. When they get together they might cap it at a certain amount to avoid problems like this in the future.
Pro sports also have caps. It’s nothing new, they just need to figure out what that cap is.
I think if you can make 35 million you make it, even if its advertising hockey helmets for orangutans.
Where I think the governing body can affect this is in the behavior before and after the marketing and advertising contracts.
You should be able to sell your likeness if your likeness is marketable. I don’t think you should be able to hold a non-party academic institution hostage because your value of yourself exceeds the market value established by the 3rd party business.
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They already do–it’s called the minimum wage.
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Pro sports do not have caps for endorsements.