🏈 Former UF DT's NIL deal: "clause says that he'll owe 15% of his pre-tax NFL earnings for 25 years!"

 

[94 Grad]

I did. But instead of focusing on what he did and didnt do, focus on the language of the contract and read the article again carefully.... He has very good case of getting the contract void

I think you need to go back an read what you posted to me... cause it has nothing to do with anything you are trying to point out now.

If his lawyers can prove it violates any laws or requirements of the NIL statutes then they can and should try to invalidate it. That would be an issue of stupidity on the NIL "Leander's" in to offer out something that isn't enforceable. I don't have issue with that. I'm not a lawyer and don't know the regulations around this type of contract.

My only point is that I don't have any issue with a 15% payment on future earnings for a payout of money now. Call JGWentworth if you need any more information.

 

[Justneedme81]

I think you need to go back an read what you posted to me... cause it has nothing to do with anything you are trying to point out now.

If his lawyers can prove it violates any laws or requirements of the NIL statutes then they can and should try to invalidate it. That would be an issue of stupidity on the NIL "Leander's" in to offer out something that isn't enforceable. I don't have issue with that. I'm not a lawyer and don't know the regulations around this type of contract.

My only point is that I don't have any issue with a 15% payment on future earnings for a payout of money now. Call JGWenworth if you need any more information.

You definitely don't get it. I give up.

 

[SnakeDoc]

You believe making 1/10th of what he would make the NFL is "problem solved?"

In relation to not having to pay the NFL whatever absurd amount they would be owed . . . yes.

 

[94 Grad]

You definitely don't get it. I give up.

Again, I can only go by what you type... you might need to think more before making a statement and put those points that live in your head to ink.

 

[BamaFan334]

It doesn't matter. I'm making the point of .. ah fuck this is miserable trying to get the point across

Where did you get he would pay them $225,000 a year for 25 years? A retirement number? You never answered my question.

 

[BamaFan334]

I did. But instead of focusing on what he did and didnt do, focus on the language of the contract and read the article again carefully.... He has very good case of getting the contract void

Spell it out instead of being all mysterious and leaving everything open ended. Damn, for as much as you have responded you could have made your point instead of being all coded about it and getting your point across. I don't come here to log in more work hours, but to get a reprieve, not a lecture.

 

[BamaFan334]

He absolutely should have read the deal fully (or had a lawyer that would) but I think that's kind of the point of this NIL shit not being fully thought out and this is a situation of someone absolutely being taken advantage of. NIL deals aren't supposed to be loans. You're supposed to be getting something for your money (advertising, sponsorship, autograph signings, something other than 'oh you'll pay me back once you become a millionaire'). That's not what this is, at all. This is the problem that came with the NCAA just saying "okay, you guys do what you want and hopefully congress or the states will take care of the rules/laws" as if government of any kind in this country works at a halfway decent speed.

In the cases of guys not worth anything NIL wise it's a good deal becuse he received money up front to help his family. Dexter is not an NIL ATM type guy.

Otherwise it is just paying for a signature to play for your program. Seems like he got a nice personal loan because his production on the field wasn't worth his signature on Signing Day.

 

[Justneedme81]

Spell it out instead of being all mysterious and leaving everything open ended. Damn, for as much as you have responded you could have made your point instead of being all coded about it and getting your point across. I don't come here to log in more work hours, but to get a reprieve, not a lecture.

rolls my eyes

 

[BamaFan334]

rolls my eyes

Why you rolling your eyes? Spell that shit out, instead of again, trying to be all mysterious and making people guess as to what is going on in your brain.

 

[JoshB]

In relation to not having to pay the NFL whatever absurd amount they would be owed . . . yes.

What in the world are you talking about?

 

[JoshB]

In the cases of guys not worth anything NIL wise it's a good deal becuse he received money up front to help his family. Dexter is not an NIL ATM type guy.

Otherwise it is just paying for a signature to play for your program. Seems like he got a nice personal loan because his production on the field wasn't worth his signature on Signing Day.

Again, NIL is not a loan program. You're missing my point. That type of thing is supposed to be against NCAA Rules and possibly even illegal.

 

[BamaFan334]

Again, NIL is not a loan program. You're missing my point. That type of thing is supposed to be against NCAA Rules and possibly even illegal.

Oh I get it. It's happening everywhere with these collectives. Guys are promised money to sign. We do it too.

 

[bamafan9201]

Again, NIL is not a loan program. You're missing my point. That type of thing is supposed to be against NCAA Rules and possibly even illegal.

The deal isn't illegal, the way they presented the deal and executed it without proper consent/notification is where they'll have some trouble upholding the deal.

Loans vs Potential is a savvy way to hedge your bets in an NIL era for investors.

Definitely a predatory deal, an attempt to poach future earnings. Though Dexter signed and will have to pay lawyers to throw this whole thing out, he will still have to repay the debt if the deal is voided. Perhaps + interest

 

['65 Cobra]

The deal isn't illegal, the way they presented the deal and executed it without proper consent/notification is where they'll have some trouble upholding the deal.

Loans vs Potential is a savvy way to hedge your bets in an NIL era for investors.

Definitely a predatory deal, an attempt to poach future earnings. Though Dexter signed and will have to pay lawyers to throw this whole thing out, he will still have to repay the debt if the deal is voided. Perhaps + interest

Actually, if the info in the article is accurate, the deal is illegal and for several reasons. It doesn't mean that it's necessarily illegal to have a payback clause, but there were several items about the deal that violated laws and regulations.

On that payback, we can all say, he should have read the fine print. How do you or anyone know he didn't? The lawsuit is not claiming anything about that.

Strangely, I find myself agreeing with Josh B on something... the intent of NIL programs is not to indebt players and have them mortgage the future. It is to pay them for the use of their name, image, or likeness. Straight up, very simple. These guys sound more like bookies to me.

 

[SnakeDoc]

What in the world are you talking about?

"The alleged clause says that he'll owe 15% of his pre-tax NFL earnings for 25 years!"

 

[SnakeDoc]

Actually, if the info in the article is accurate, the deal is illegal and for several reasons. It doesn't mean that it's necessarily illegal to have a payback clause, but there were several items about the deal that violated laws and regulations.

On that payback, we can all say, he should have read the fine print. How do you or anyone know he didn't? The lawsuit is not claiming anything about that.

Strangely, I find myself agreeing with Josh B on something... the intent of NIL programs is not to indebt players and have them mortgage the future. It is to pay them for the use of their name, image, or likeness. Straight up, very simple. These guys sound more like bookies to me.

Pandora's box has been opened.

 

[JoshB]

"The alleged clause says that he'll owe 15% of his pre-tax NFL earnings for 25 years!"

You seem very confused. He wouldn't be paying the NFL that money, it's paying back the collective that gave him his NIL deal.

 

[sean]

So he signed a legal document without reading it? How is that anyone else's problem?

If you're going to sign a legal document, ESPECIALLY ONE BASED ON MONETARY VALUES OR MONEY, you read every single word of that document. Then, you have your attorney go over it to make sure everything is to your liking.

If you sign it without reading it, that's on you.

 

[mando]

So he signed a legal document without reading it? How is that anyone else's problem?

If you're going to sign a legal document, ESPECIALLY ONE BASED ON MONETARY VALUES OR MONEY, you read every single word of that document. Then, you have your attorney go over it to make sure everything is to your liking.

If you sign it without reading it, that's on you.

Not in this new world we are in, it is always someone elses fault haven't you heard? SMH...

 

[SnakeDoc]

You seem very confused. He wouldn't be paying the NFL that money, it's paying back the collective that gave him his NIL deal.

I'm not confused. If the contract stipulates that he pays a percentage of money received specifically from the NFL to the collective, then any earnings from the CFL would be exempt.