Florida’s NIL deal

#27
#27
Even if it happened outside their scope, it’s their responsibility to provide the oversight and support to make sure their players aren’t signing predatory contracts. Looks bad on Florida no matter how you slice it.
 
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#29
#29
Jaws said:
This is incorrect. This “deal” is specific to this player, and the player was strongly-advised AGAINST taking this deal, but wanted that quick $400k. It had nothing to do with Florida or any of their AD-endorsed collectives.
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Baseball has been doing this for years with kids from the Dominican. While you could be dead on accurate. If I am another program I am 100% using this against you in recruiting. " Look son we have multiple NIL programs that are here for every student athlete that comes through these doors. There are other schools without the same solid partnerships who are having kids sign with loan sharks because their program doesn't have the internal structure to tailor a program to fit you.".
 
#30
#30
vol_in_ga said:
Even if it happened outside their scope, it’s their responsibility to provide the oversight and support to make sure their players aren’t signing predatory contracts. Looks bad on Florida no matter how you slice it.
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I disagree, the school can't be involved in giving these kids financial advice. The best they can do is try to educate them.

Shouldn't look bad on Florida, it will happen to one of ours soon enough. I think there's some negative spin here towards Florida that's unjustified.

I don't like what happened here, seems very slimy, but there's obviously a market for this. Feel bad for the kid, tough life lesson for sure.
 
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#31
#31
(1) I don't really see how this is in the spirit of NIL. Gordon was not selling his name, image or likeness, he was taking money at the time of the signing for a portion of his future earnings, not NIL I would contend that Gordon signing such a contract made him a professional and therefore ineligible to play for UF.

(2) Personally I don't have an issue with BLA and I don't see how the Gators are linked (maybe they are, but haven't seen it). The company is taking a risk and being compensated for that risk. Had Gordon been injured and unable to play before being drafted, BLA would lose $450K + expenses. If he gets cut because of injury or some other reason, BLA essentially breaks even. Furthermore, Gordon agreed to the terms. Too many people don't comprehend responsibility and accountability. "In hindsight, I made a big mistake but someone else should pay for it."
 
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#33
#33
ghosted1 said:
I get the want for any competitive advantage is viewed through UT colored glasses on here, as it is on most message boards, but take into account that he made a deal with a NIL group with 0 ties to the school. Not sure you can use this in recruiting against UF. This is essentially a case of leaving the resort property.
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Also this Big League Advance company has cast a very WIDE net all over the country. We better be sure none of our athletes have been suckered into one of these deals before we toss too many stones at anyone.
 
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#34
#34
AndyMizunogolfer said:
Baseball has been doing this for years with kids from the Dominican. While you could be dead on accurate. If I am another program I am 100% using this against you in recruiting. " Look son we have multiple NIL programs that are here for every student athlete that comes through these doors. There are other schools without the same solid partnerships who are having kids sign with loan sharks because their program doesn't have the internal structure to tailor a program to fit you.".
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Correction: "Baseball" hasn't been doing it, it's independent agents and/or crime syndicates.
 
#35
#35
ntxVOL said:
I disagree, the school can't be involved in giving these kids financial advice. The best they can do is try to educate them.

Shouldn't look bad on Florida, it will happen to one of ours soon enough. I think there's some negative spin here towards Florida that's unjustified.

I don't like what happened here, seems very slimy, but there's obviously a market for this. Feel bad for the kid, tough life lesson for sure.
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Agree with most your post, but don't feel sorry for the "kid". He was an adult and knew what he was agreeing to and just wanted it now instead of waiting for the bigger payday. It's prevalent in our society--kids (and adults) want instant gratification and are willing to forgo future benefits for getting something now. IMO, it's mostly due to bad parenting. Kids should be taught responsibility and accountability and not blame others for their bad decisions.
 
#37
#37
I don't think this company has any sort of association with UF. Seems like they are more of a private JG Wentworth sort of NIL collective. I'm pretty sure they scammed several minor league baseball players this way as well.
 
#38
#38
LAVol1 said:
Correction: "Baseball" hasn't been doing it, it's independent agents and/or crime syndicates.
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So just going to ignore the fact that MLB teams scout kids at super young ages now, even offering them to move countries to join their programs much earlier than they really should? The hope is they can get these kids in the big's and producing by 21-22 years old. They are soliciting these 16-17 year old kids into their programs. A lot of these kids are super poor so why wouldn't they want to do it? Although then they are preyed upon by agencies such as the BLA.
 
#39
#39
ntxVOL said:
I disagree, the school can't be involved in giving these kids financial advice. The best they can do is try to educate them.

Shouldn't look bad on Florida, it will happen to one of ours soon enough. I think there's some negative spin here towards Florida that's unjustified.

I don't like what happened here, seems very slimy, but there's obviously a market for this. Feel bad for the kid, tough life lesson for sure.
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They absolutely can and should. They hold no licenses that adhere them to any regulations preventing them from doing such or stipulating how they should do such. They don’t receive any compensation for doing such, so they are not liable. They’re not the ones paying so there is not direct conflict of interest. Someone has to be in these kids corner, and I can’t think of anyone better than the university they’re looking to play at. Educate them. Provide the services for them to consult with. If they still want to go outside the advice being given to them, oh well, but to just let these kids be taken advantage of without making every effort to guide and support them is either a cop-out or negligent.

Yes it should. And you don’t know that for a fact. We have a whole educational curriculum geared towards NIL. If it happens to one of our players, they ignored everyone around them in making such a decision.
 
#40
#40
Scouting kids is not exploiting them. And, please explain why a team would move a kid "to join their programs" when the kid would still have to be drafted by that team.
AndyMizunogolfer said:
So just going to ignore the fact that MLB teams scout kids at super young ages now, even offering them to move countries to join their programs much earlier than they really should? The hope is they can get these kids in the big's and producing by 21-22 years old. They are soliciting these 16-17 year old kids into their programs. A lot of these kids are super poor so why wouldn't they want to do it? Although then they are preyed upon by agencies such as the BLA.
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You are referring to "International Free Agents (IFA)". It's a bidding process for those kids. The kid must be at least 16 and has not been enrolled in high school for the previous year (so they can't sign a kid in school). Teams have a limited pool of money (base of $4.5M up to $5.75M). Teams can trade their IFA pool money. They can offer to secure an IFA but it is competitive bidding. Some sign for as little as $10K, some for as much as $4.5M. This was negotiated in the collective bargaining agreement. It does provide a path for impoverished kids to the minor leagues. If you're a 16 y.o. kid in Venezuela that's a decent but not great prospect, would't $10K and a ticket to states be better than staying in Venezuela?
 
#41
#41
LAVol1 said:
Scouting kids is not exploiting them. And, please explain why a team would move a kid "to join their programs" when the kid would still have to be drafted by that team.

You are referring to "International Free Agents (IFA)". It's a bidding process for those kids. The kid must be at least 16 and has not been enrolled in high school for the previous year (so they can't sign a kid in school). Teams have a limited pool of money (base of $4.5M up to $5.75M). Teams can trade their IFA pool money. They can offer to secure an IFA but it is competitive bidding. Some sign for as little as $10K, some for as much as $4.5M. This was negotiated in the collective bargaining agreement. It does provide a path for impoverished kids to the minor leagues. If you're a 16 y.o. kid in Venezuela that's a decent but not great prospect, would't $10K and a ticket to states be better than staying in Venezuela?
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We will just have to agree to disagree here. It feels to me like MLB opened this up by allowing as young as 16 year old kids to become paid pro athletes. The guy who started BLA started it because he saw a massive opportunity. Young and dumb kids struggling that would do anything to get paid.
 
#42
#42
LAVol1 said:
(1) I don't really see how this is in the spirit of NIL. Gordon was not selling his name, image or likeness, he was taking money at the time of the signing for a portion of his future earnings, not NIL I would contend that Gordon signing such a contract made him a professional and therefore ineligible to play for UF.
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This 100%. I don't see how a player can stay eligible with the NCAA after this.

Are players allowed to sign with sports agents since the NCAA's allowance of NIL? BLA seems no different than signing with or accepting an advance from a sports agent to me. Aren't they just loaning against future professional earnings?

I'm all for giving Florida a good kick, whether they deserve it or not, but I struggle to put this on Florida. A few states already allow high school kids to receive NIL, and many more will follow.
 
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#43
#43
MemphisVol77 said:
This 100%. I don't see how a player can stay eligible with the NCAA after this.

Are players allowed to sign with sports agents since the NCAA's allowance of NIL? BLA seems no different than signing with or accepting an advance from a sports agent to me. Aren't they just loaning against future professional earnings?

I'm all for giving Florida a good kick, whether they deserve it or not, but I struggle to put this on Florida. A few states already allow high school kids to receive NIL, and many more will follow.
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From AP
Generally, college and high school athletes can use sports agents to market their name, image and likeness, but they are not permitted to hire agents to represent them professionally without endangering their eligibility. The standard fee for marketing agents is 15-20% of an athlete’s NIL deal.
 
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#44
#44
I had a friend in a pretty famous 90s band (still play two of their songs on Sirius XM all the time). The band made 3 album and sold almost 2 million CDs. The record company's accounting said the band was over $1mil in debt to the record company that fronted money for promotion and touring.

He owns a construction company and the record company, and now the Music Publishing company that owns the band's debt, collect @10% of his monthly gross upfront before taxes each month.
His accountant says he will be paid off in another year and a half. He has probably paid them $500k+ himself.
 
#45
#45
Volfan76 said:
I can't believe even a 18yo would sign such a ridiculous contract. This was for 15% of PRE-TAX EARNINGS for 25 YEARS. His whole NFL career. The need for instant satisfaction among this generation is scary.
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As adults, we understand financing better than an 18 year old. 15% doesn't sound like a big deal now, but when and if he makes it to the NFL, then he will see what a rip it was. That contract gives them 15% of anything he earns, not just football related. That company needs to be shut down and prosecuted.
 
#47
#47
bigorangepoppa said:
As adults, we understand financing better than an 18 year old. 15% doesn't sound like a big deal now, but when and if he makes it to the NFL, then he will see what a rip it was. That contract gives them 15% of anything he earns, not just football related. That company needs to be shut down and prosecuted.
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I was plenty stupid as an 18yo, but I could work a calculator. I hope he has to honor the contract and every school in the country uses it against florida in recruiting.
 
#49
#49
volfan_28 said:
Some handlers have been accused of giving players money with the understanding that the player will pay it back after they get a professional contract. That's what this reminds me of. It just doesn't sound like a legit NIL deal.
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Sounds like a loan
 
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