This NIL stuff is going to be Cheetah that grows to be King Kong. Just give it time…
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“Name, Image and Likeness Law”
Spring 2024
Course ID: 296V
Course will analyze the new rights granted to college athletes, etc.
I’d have to see what they use as a casebook.
I haven’t seen where he actually received any money from UM. I thought he just made “a false promise” to go there based on the $9 mil, and he then backed out for the UF deal which turned out to be a “false promise” that he is suing for now. I love that this stuff has been going on for years but now that it is legal through NIL it is such a glorified mess. It’s fun to watch.
It was in the ESPN article. It mentioned he received a 6 figure sum from the Miami booster John Ruiz and that the only actual payment he’d received from UFs NIL collective was the amount he needed to avoid possible litigation. I think we’ll see Rashada eventually get a 7 figure settlement.
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The interesting thing about NIL and law suites, coaches do not want to wait. They throw $13million
at you and you better say yes and sign. If you are looking at other offers, and one decides to pull out, you can’t say but wait I wanted that offer. It puts pressure on these HS kids, unless you go the old fashion way, a school, coach and team you like and a position they need or will need soon, otherwise it is just dialing for dollars.
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NIL deals signed not by the player but by an LLC. I wonder if all athletes are doing that?
I see many comments on different boards talking about the players getting a real world introduction to taxes. I expect that most schools provide the advisors on campus to help them plus other agents and entities. I think the bigger problem will be how much of all this NIL gets taken by these entities and advisors leaving a lot less for the players than expected.
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Correct me if I am wrong, but I do not think schools can be involved directly with NIL, taxes, agents and endorsements. I guess if you are 18 years old and making millions of dollars, you better know what you are doing.
TDECU has a NIL Program for UH athletes that includes financial literacy. I do not know if that includes NIL and taxes, but if it doesn’t, it should, for the education of the athletes. Here is a blurb about it.
He was offered an amount, that means he was worth it at the time. He didn’t come up with a figure on his own and they just said no.
Not all athletes but I can tell you that is very common with professional athletes.
Imagine a simple county athlete coming from a rural area who’s head is already spinning attending college for the first time being told “you need to set up a LLC before you sign this NIL…”
Kind of makes you long for the days of cash in a plain envelope or $100.00 handshakes. Not that those don’t still happen.
No it doesn’t mean he was worth it. Just means someone offered a lot of money to satisfy their ego. Based on your guide, that would mean no one ever overpaid for something.
He was not actually paid so apparently not worth it. I can offer you a million dollars to come clean my windows, then cancel when you call back. It does not mean you are worth a million dollars (figurative - not you specifically) just someone that does not want to clean windows.
People have a hard time understanding value and worth vs what someone is willing to pay. I can pay $50 per oz for silver, but does not mean it is worth it when I can’t sell it for that amount. or what about when you go out to eat at a fancy restaurant, order an expensive dish and find you really did not like it much - was it really worth the high price you paid?
A personal ego value is not what something is worth. Especially when it does not give the person paying any value in return or not equivalent value.
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I meant to say someone thought he was worth it.
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I love all of this crap. !!!
It is only going to get worse since there are no rules.
Things seem to have changed. I spoke to a booster at another Big 12 school who gave $2 mil over 2 years for NIL through the school and was able to deduct it
Pay up, Delbert. Not showing up for court is saying “I’ll just bend over.” Only an IDIOT does that.
That was never the intent of NIL. Please confirm because if this is true we are looking at a 100% different NIL.
I started a thread a few weeks ago about players playing DIV 1 FBS for as long as they want to.
Put yourself with this system and then you bassically have nfl 2.0.
Players won’t need to go into the nfl.
Again please confirm. Thank you.