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

 

[TerryP]

Sportico isn't a site I think of as a "go to for the story."

 

[SnakeDoc]

Gotta read the fine print.

Just go to the CFL. Problem solved.

 

[50+yeartidefan]

I dont know...i would have taken a sum of money when i was in schools really struggling living on VA $....& paid it back when i started working.....and had sufficient ( if theres a such thing)

 

[BamaFan334]

Well, y'all wanted to be treated like big boys, so here you go. Cn't act like a child at the grown up table. I have absolutely zero compassion for him and the people that allowed him to sign the deal. The quick easy money ain't always good.

 

[94 Grad]

Doesn’t sound that bad… maybe should have negotiated a lower %… but I don’t see too much of an issue with it. He should have understood it before signing, but the deal itself isn’t “outrageous”… if he’d of got hurt in college and not been drafted or drafted very low… then he’d of been ahead.

 

[Justneedme81]

Doesn’t sound that bad… maybe should have negotiated a lower %… but I don’t see too much of an issue with it. He should have understood it before signing, but the deal itself isn’t “outrageous”… if he’d of got hurt in college and not been drafted or drafted very low… then he’d of been ahead.

15 percent of pretax.....

Imagine paying 225k for 25 years..... Football in NFL average career is 3 to 5 years. So if his career ends he still has to pay them. Still think it's not a bad deal?

 

[BamaFan334]

15 percent of pretax.....

Imagine paying 225k for 25 years..... Football in NFL average career is 3 to 5 years. So if his career ends he still has to pay them. Still think it's not a bad deal?

Where do you get $225,000 for 25 years? He won't be in the NFL for 25 years. From a quick look he'll owe $276,750 a year from his ~$3.7M deal for two years including signing bonus. if he continues to play, sure, he'll owe, but I don't think he makes it for one, and if he does continue he'll only pay while he plays.

 

[50+yeartidefan]

15 percent of pretax.....

Imagine paying 225k for 25 years..... Football in NFL average career is 3 to 5 years. So if his career ends he still has to pay them. Still think it's not a bad deal?

Loading trucks at Amazon. 17$ annhour
So lot less

 

[Justneedme81]

Loading trucks at Amazon. 17$ annhour
So lot less

I wonder if everyone is missing the point of the post.

 

[50+yeartidefan]

I wonder if everyone is missing the point of the post.

Probably......Just the dense ones ....like me

 

[Justneedme81]

"future NFL earnings" not limited to playing but coaching, off the field position, anything to do with NFL.

 

[BamaFan334]

"future NFL earnings" not limited to playing but coaching, off the field position, anything to do with NFL.

Let's be honest here, he has never shown the NFL coaching mindset, and that is pretty rare as it is.

 

[Justneedme81]

Let's be honest here, he has never shown the NFL coaching mindset, and that is pretty rare as it is.

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

 

[JoshB]

Gotta read the fine print.

Just go to the CFL. Problem solved.

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

 

[JoshB]

Doesn’t sound that bad… maybe should have negotiated a lower %… but I don’t see too much of an issue with it. He should have understood it before signing, but the deal itself isn’t “outrageous”… if he’d of got hurt in college and not been drafted or drafted very low… then he’d of been ahead.

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.

 

[94 Grad]

if 15% of his pretax dollars from the NFL equates to $225k per year for 25 years, I'd say he won't be too worried about that 15%. I mean, if he's making 1.5 million a year for 25 years... he be doing all right... just saying.

I don't know when the NIL deal was cut, but the approximate $500,000 payout was a risk to them for future earnings. They could have got zero in return... So I don't have any issues with the deal in itself. 15% isn't something I would have signed, but 5%-10% I might have to think about. The reality is that the people putting up the 500k are most likely lucky to just break even... I don't think it's a win fall in this case.

15 percent of pretax.....

Imagine paying 225k for 25 years..... Football in NFL average career is 3 to 5 years. So if his career ends he still has to pay them. Still think it's not a bad deal?

 

[Justneedme81]

if 15% of his pretax dollars from the NFL equates to $225k per year for 25 years, I'd say he won't be too worried about that 15%. I mean, if he's making 1.5 million a year for 25 years... he be doing all right... just saying.

Missing the point....

 

[94 Grad]

Missing the point....

They you need to state your point clearer... I can only use your typed words to understand your point. IF the NFL isn't paying him 1.5 million, then he isn't paying 225k. 15% isn't that big a deal if you're getting 500k up front with no requirement to repay it if he isn't getting paid by the NFL. He could have just taken the money and gotten a normal job and never worked or played in the NFL... then he wouldn't owe a single penny.

 

[Justneedme81]

They you need to state your point clearer... I can only use your typed words to understand your point.

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