Another Florida "NIL" disaster sports talk j on youtube I told you all someone would get Attorneys on players for breech of contract.

[mudcat1973]

florida player gets 400,000 to play football. jumps to nfl two years latter. Being sue for % of earning for next 25 years of pro football. Their doing this player dirty. He should just have pay 400,000. back not % of his earnings for whole playing time.

 

[1reVOLver]

Some background:

“
Former Florida football defensive lineman Gervon Dexter Sr. has filed a lawsuit in U.S. District Court in Gainesville, contending a future earnings clause in a $436,485 Name, Image and Likeness deal he signed in May of 2022 violated state NIL laws.

Per terms of the deal that Dexter signed with Big League Advance Fund II LLC, a company based in Wilmington, Del., Dexter would forfeit 15 percent of his future NFL earnings for the next 25 years. Dexter signed the deal in May of 2022, before the start of his junior season and declared for the NFL Draft in December. He was taken in the second round by the Chicago Bears in last April's NFL Draft.



Dexter's Tampa-based attorneys contend that the contract is void because it extended beyond the term of Dexter's eligibility as a student-athlete, and that the agents representing Big League Advance Fund, Michael Schwimer and Scott McBrien, were not licensed in Florida. In addition, Big League Advance Fund failed to give Florida athletic director Scott Stricklin notice within 72 hours of the agreement, another violation of state NIL law.”

Lawsuit reveals Gervon Dexter entered $436K NIL deal during senior year with UF football

According to a lawsuit filed in U.S. District Court, former UF DL Gervon Dexter's attorneys claim terms of his $436K NIL deal violated state law

www.gainesville.com

“The original Florida NIL law, Senate Bill 646, included the following provision: "The duration of a contract for representation of an intercollegiate athlete or compensation for the use of an intercollegiate athlete's name, image or likeness may not extend beyond her or his participation in an athletic program at a postsecondary educational institution."

Bears rookie Dexter sues company over NIL deal

An NIL deal signed in 2022 that gave Bears rookie Gervon Dexter more than $400,000 in exchange for 15% of his future earnings in the NFL violated a state law, according to a Florida state legislator.

www.espn.com

 

[unfrozencvmanvol]

The company is called "Big League Advance", it is a national company that is not associated with UF. They have done deals all over the country across multiple sports, especially minor league baseball. They "invest" in prospects and as the name indicates, give them "advances" on their Big League salaries in exchange for a well defined return. Is it a crummy deal? Yes, certainly, but people who want an influx of cash make bad deals all the time. I have a hard time drumming up much sympathy here, honestly. It's not like this company hid who they were. I note he took their money and probably lived it up last year, but it is only now he is complaining since it's time for him to hold up his end of the bargain.

 

[mudcat1973]

Some background:

“
Former Florida football defensive lineman Gervon Dexter Sr. has filed a lawsuit in U.S. District Court in Gainesville, contending a future earnings clause in a $436,485 Name, Image and Likeness deal he signed in May of 2022 violated state NIL laws.

Per terms of the deal that Dexter signed with Big League Advance Fund II LLC, a company based in Wilmington, Del., Dexter would forfeit 15 percent of his future NFL earnings for the next 25 years. Dexter signed the deal in May of 2022, before the start of his junior season and declared for the NFL Draft in December. He was taken in the second round by the Chicago Bears in last April's NFL Draft.



Dexter's Tampa-based attorneys contend that the contract is void because it extended beyond the term of Dexter's eligibility as a student-athlete, and that the agents representing Big League Advance Fund, Michael Schwimer and Scott McBrien, were not licensed in Florida. In addition, Big League Advance Fund failed to give Florida athletic director Scott Stricklin notice within 72 hours of the agreement, another violation of state NIL law.”

Lawsuit reveals Gervon Dexter entered $436K NIL deal during senior year with UF football

According to a lawsuit filed in U.S. District Court, former UF DL Gervon Dexter's attorneys claim terms of his $436K NIL deal violated state law

www.gainesville.com

“The original Florida NIL law, Senate Bill 646, included the following provision: "The duration of a contract for representation of an intercollegiate athlete or compensation for the use of an intercollegiate athlete's name, image or likeness may not extend beyond her or his participation in an athletic program at a postsecondary educational institution."

Bears rookie Dexter sues company over NIL deal

An NIL deal signed in 2022 that gave Bears rookie Gervon Dexter more than $400,000 in exchange for 15% of his future earnings in the NFL violated a state law, according to a Florida state legislator.

www.espn.com

good points their. feel bad for the player.

 

[Dak1219]

florida player gets 400,000 to play football. jumps to nfl two years latter. Being sue for % of earning for next 25 years of pro football. Their doing this player dirty. He should just have pay 400,000. back not % of his earnings for whole playing time.

Business is business. College players wanted to make that money, so when they sign on that dotted line they become part of a contractual agreement.

 

[MontyPython]

florida player gets 400,000 to play football. jumps to nfl two years latter. Being sue for % of earning for next 25 years of pro football. Their doing this player dirty. He should just have pay 400,000. back not % of his earnings for whole playing time.

NIL = Needing Idiot Lawyers

 

[DonDiego]

The company is called "Big League Advance", it is a national company that is not associated with UF. They have done deals all over the country across multiple sports, especially minor league baseball. They "invest" in prospects and as the name indicates, give them "advances" on their Big League salaries in exchange for a well defined return. Is it a crummy deal? Yes, certainly, but people who want an influx of cash make bad deals all the time. I have a hard time drumming up much sympathy here, honestly. It's not like this company hid who they were. I note he took their money and probably lived it up last year, but it is only now he is complaining since it's time for him to hold up his end of the bargain.

So looks like it falls outside of NIL, but is rather an advance on future earnings with a pay back clause. Dude should have had a lawyer review everything up front instead of now.

 

[macrovol]

Business is business. College players wanted to make that money, so when they sign on that dotted line they become part of a contractual agreement.

Yes, but contracts have to be valid, otherwise they are voided. There can be numerous factors that can make a contract invalid.

 

[Special Ed]

You didn't tell me.

 

[livefaith]

Pay up young man.

 

[Pride85]

florida player gets 400,000 to play football. jumps to nfl two years latter. Being sue for % of earning for next 25 years of pro football. Their doing this player dirty. He should just have pay 400,000. back not % of his earnings for whole playing time.

The problem with that is the player signed the contract. He did not have to sign the original deal. I don't think the players deserve 400,000 to play college football anyway, and that includes ours.

 

[mudcat1973]

NIL = Needing Idiot Lawyers

lawyers will start getting % to look out for contracts like this one. At 15 % for25 years of future earning is no where close to being fair.

 

[1reVOLver]

Whatever we may think of the former student—naïve, dumb, greedy, and other less flattering terms come to mind—he signed a contract. Seems simple, doesn't it. Take the cash, and pay the piper later.
But, according to the Florida law in effect at the time, that contract was invalid.
So, the dumb, greedy, clueless et cetera kid will probably prevail at trial. Whether or not he has to return some or all of the cash will be up to the courts.

Once upon a time, college sports was about…sports. Those days are behind us.

 

[turbovol]

Sure, he was happy to take the money--now not happy that he apparently failed to read and scrutinize the contract. Don't feel sorry for the kid.

 

[stllvf]

baseball players from Central America, who might be prospects, get $50-100k advances as mid-teens. Those who make it to the MLB owe $10-20 of future earnings . obviously a gambling concept for the company that hits the jackpot enough.

 

[mudcat1973]

baseball players from Central America, who might be prospects, get $50-100k advances as mid-teens. Those who make it to the MLB owe $10-20 of future earnings . obviously a gambling concept for the company that hits the jackpot enough.

I watch video on youtube on sat. that in thread title . Sports talk j said he sign four year contract for 6.72 millions. At 15% pre tax dollars = 1 million , 8000 dollars . They paid out 436,485 to the florida player

 

[madtownvol]

Whatever we may think of the former student—naïve, dumb, greedy, and other less flattering terms come to mind—he signed a contract. Seems simple, doesn't it. Take the cash, and pay the piper later.
But, according to the Florida law in effect at the time, that contract was invalid.
So, the dumb, greedy, clueless et cetera kid will probably prevail at trial. Whether or not he has to return some or all of the cash will be up to the courts.

Once upon a time, college sports was about…sports. Those days are behind us.

Well, you have got to to back pretty far back in history to find a time when college sports (i.e. football and men's basketball) were just about sports. Alumni have been buying elite recruits, pretty much since college sports rebooted after WWII (and I am sure plenty of graft was going on in the earlier erea but it really scaled up in 50's and 60's).

The $ used to be "under the table" and now its more public with NILs. [Read the fine print on those contracts kids!!]

 

[Remy]

florida player gets 400,000 to play football. jumps to nfl two years latter. Being sue for % of earning for next 25 years of pro football. Their doing this player dirty. He should just have pay 400,000. back not % of his earnings for whole playing time.

You can sue for whatever amount suits you. That does not mean you'll be awarded anything remotely close to it.

 

[chuckiepoo]

Well, you have got to to back pretty far back in history to find a time when college sports (i.e. football and men's basketball) were just about sports. Alumni have been buying elite recruits, pretty much since college sports rebooted after WWII (and I am sure plenty of graft was going on in the earlier erea but it really scaled up in 50's and 60's).

The $ used to be "under the table" and now its more public with NILs. [Read the fine print on those contracts kids!!]

…as in sign zero documents until reviewed by an attorney. Especially contract documents. I’m like, wtf, really?

 

[VOLPAT]

florida player gets 400,000 to play football. jumps to nfl two years latter. Being sue for % of earning for next 25 years of pro football. Their doing this player dirty. He should just have pay 400,000. back not % of his earnings for whole playing time.

Pandora’s Box has been slung open and this will end up total chaos all over the country.

 

[Coach Jumper]

yep

 

[#1LVLS MAN 4 LIFE]

This is not directed to any particular company, collective, university, college, or athlete, this is a public service announcement: Regarding NIL deals, and the transfer portal, "If you dance with the devil, your bound to get burned." To all athletes, please get professional respresentation. Read, study, and understand NIL contracts, and don't give away the farm for a few chickens, no matter how good they look.