Jaden Rashada (Florida Signee) requesting NLI release

[Lawrence Wright]

I’ve heard this from a few sources, which just confirms our collective is a clown show.

Quoting said source…

Basically, Miami paid Rashada 6 million. Not offered, paid. And UF offered 7 million. UF then signed a contract agreeing to pay back the 6 million to LifeWallet without realizing it, because they are idiots, and then balked at paying the full 13 million once it came to it.

 

[LouderVol]

I’ve heard this from a few sources, which just confirms our collective is a clown show.

Quoting said source…

Lol what? How the eff did they agree to pay them back?

 

[Lawrence Wright]

Lol what? How the eff did they agree to pay them back?

Apparently there was a poison pill clause in the contract that was missed.

Our collective is a business case on how not to run a collective in this new NIL world. It’s a joke.

 

[LouderVol]

Apparently there was a poison pill clause in the contract that was missed.

Our collective is a business case on how not to run a collective in this new NIL world. It’s a joke.

Man, Miami got yall good.

 

[Lawrence Wright]

Man, Miami got yall good.

They almost got us good.

As it turns out, they paid a kid $6M up front and he ditched them.

 

[PEPPERJAX]

They almost got us good.

As it turns out, they paid a kid $6M up front and he ditched them.

If that is true, then consider it the biggest swindle in the short history of NIL. Probably won't be the last or best either. How many dollars did he con out of UF? Any?

 

[Lawrence Wright]

If that is true, then consider it the biggest swindle in the short history of NIL. Probably won't be the last or best either. How many dollars did he con out of UF? Any?

I don’t know if we paid him anything upfront...hopefully we didn’t.

 

[LouderVol]

They almost got us good.

As it turns out, they paid a kid $6M up front and he ditched them.

Fair, but they got yall deep on a qb only to have him back out.

Seems like you two are going pretty hard against each other in the NIL world.

 

[Sudden Impact]

We will work on securing that money up front and better communication with the benefactors. It will hurt for a year, maybe two. But look at this way - we'll have to up our game now to be competitive.

If above is true, I would find it hard to believe that anybody would donate to Nil knowing that they cannot handle money correctly and would sign a contract without understanding the full content of it.
Would not get a single dollar of my money. It appears that either Florida tried to scam this kid and it got caught or they cannot read a contract.

 

[Lawrence Wright]

It appears that either Florida tried to scam this kid and it got caught or they cannot read a contract.

If the latter is true, then Rashada almost scammed Miami and UF.

Granted, our collective is a grease fire right now, but I can’t wrap my head around offering $13M for an unproven HS kid, when we already have an elite 5* QB committed for 2024…it makes no sense.

Ruiz has been uncharacteristically silent over all this, which is interesting.

 

[Lawrence Wright]

Fair, but they got yall deep on a qb only to have him back out.

Seems like you two are going pretty hard against each other in the NIL world.

Yeah between Cormani, Rashada and the big OL, we’ve more high profile head-to-head battles this cycle.

 

[miket4god]

They almost got us good.

As it turns out, they paid a kid $6M up front and he ditched them.

Why would any collective agree to $6M up front?

 

[Lawrence Wright]

Why would any collective agree to $6M up front?

Ask any attorney and they’ll tell you it depends.

 

[miket4god]

Ask any attorney and they’ll tell you it depends.

I mean throretically they are paying for his name, image and likeness right?
So it seems like it would be in the contract that we will pay you $X per appearance, with the # of apperances to total $6M (or $13M or whatever the real number is).
Wouldn't give them a penny up front for that very reason, to prevent "double dipping".

 

[Volfan1000]

Rumor is UF overpromised and underdelivered on his NIL.

Sports Talk J Podcast On This Subject On You Tube a few days ago.

 

[VolBallGuy]

The school that gave us Tim Tebow’s face, Steve Spurrier’s insults and piss bombs to our fans who attend their home games just lost their prized qb recruit because they couldn’t get their shiz together. Cry a lake full of tears Gator fans and let us bathe in them. Gainesville has always stunk and now your football program does too. Tennessee will own you for the next decade just to drive the point home for fun. Hope you all enjoy it. Just pointing to the scoreboard ala Wuerffel.

 

[youcancallmeAl]

The school that gave us Tim Tebow’s face, Steve Spurrier’s insults and piss bombs to our fans who attend their home games just lost their prized qb recruit because they couldn’t get their shiz together. Cry a lake full of tears Gator fans and let us bathe in them. Gainesville has always stunk and now your football program does too. Tennessee will own you for the next decade just to drive the point home for fun. Hope you all enjoy it. Just pointing to the scoreboard ala Wuerffel.

Victory lap too soon? We haven't beaten them at their place this year yet.

 

[SpookyAction]

The problem is your team's collective made the deal. They weren't forced into it. The kid was committed to Miami where he would have made a good chunk of change, but the GC decided to offer more to get him to flip. Then they reneged. Future recruits should take note. If I was DJ Lagway, that 5*QB you guys have committed for next year, I'd take note. Might want to pick a school that can honor their NIL deals.

https://www.nfldraftdiamonds.com/2022/06/hurricanes/

Interesting article when Miami originally landed Rashada. The lawyer handling the NIL contracts didn't have nice things to say about the Florida collective back then and originally turned them down before Florida upped their offer and then pulled a bait and switch. Sounds like the Florida collective has had a bad reputation for a while.

If Rashada gave up a payday with Miami for a promise from Gator Collective, Gator Collective may be on the hook to pay this kid some significant $$ amount based on his lost payday and GC not honoring the understanding.

Just because Gator Collective rescinded the offer doesn't mean they won't be on the hook for Rashada's lost NIL income from the Miami deal. Gator Collective encouraged him to walk away from it and then rescinded their offer last minute when Rashada's options were severely limited by the timing of Gator Collective's actions.

It is called Promissory Estoppel.
They may still pay Rashada, while he plays elsewhere.
An NIL deal is a name and likeness agreement and would be employment for civil litigation purposes. Even in a Work At Will state, Rashada has suffered very significant financial damage due to Gator Collective's mishandling the situation.

 

[lawgator1]

No matter the exact scenario every aspect of this for the Gators is amateurish.

 

[SpookyAction]

No matter the exact scenario every aspect of this for the Gators is amateurish.

And the AD has to carry water for the collective's poor handling and optics.

 

[volfanhill]

No matter the exact scenario every aspect of this for the Gators is amateurish.

 

[NighthawkVol]

Ask any attorney and they’ll tell you it depends.

Doesn’t sound like Florida’s collective bothered to have an attorney review the contract, which is incredibly stupid. As an attorney, I see this far too often…don’t hire an attorney on the front end to prevent problems, problems arise, call attorney to fix problems when it’s too late, get mad at attorney because attorney can’t fix the problem you created.

 

[Gandalf]

I’ve heard this from a few sources, which just confirms our collective is a clown show.

Quoting said source…

The story on Outkick seems to confirm both that Miami had already paid him, Florida was supposed to pay back Miami and that Miami NIL thinks Florida is an idiot who didnt read the contract.

Jaden Rashada Officially Asks For Release From Florida Scholarship, Ending College Football's First NIL Holdout

I spoke with John Ruiz, who runs LifeWallet in the Miami area and was involved in the initial NIL negotiations regarding Rashada after committing to the Hurricanes. I asked him about the ongoing problems with collectives, especially when problems like this arise.

“The main problem I see with some collectives is they have individuals running them with no true business experience. The NIL landscape is difficult as it requires experience in many areas. Negotiating contracts, NIL NCAA By-Laws, applicable state laws and true Return on Investment based on each player just to name a few.

“The bigger problem is the ones that get affected are the kids and their family when things go south,” Ruiz said. “Dealing with honest people that don’t treat kids as pawns is at the core of a solid NIL platform. I hope to see that with time the rotten apples and phased out of the NIL space.”

AND

According to multiple sources with knowledge of the situation, the events that transpired at Florida mainly centered around NIL, or the lack of. A disagreement between the Rashada family and the on-campus Florida NIL groups caused friction between the pair, straining the relationship to a point of seemingly no return.

Also, I was told that the Florida collective paid-off a certain amount of money to the Miami collective, for funds already given to Rashada under the previous contract. When asked about this situation, John Ruiz could not comment on the matter.

Simply put, the money fell through. It wasn’t as if this was a football program problem, but more so the collective’s needing to figure out who to take pledges from, also who to trust.

 

[SayUWantAreVOLution]

The story on Outkick seems to confirm both that Miami had already paid him, Florida was supposed to pay back Miami and that Miami NIL thinks Florida is an idiot who didnt read the contract.

Jaden Rashada Officially Asks For Release From Florida Scholarship, Ending College Football's First NIL Holdout

I spoke with John Ruiz, who runs LifeWallet in the Miami area and was involved in the initial NIL negotiations regarding Rashada after committing to the Hurricanes. I asked him about the ongoing problems with collectives, especially when problems like this arise.

“The main problem I see with some collectives is they have individuals running them with no true business experience. The NIL landscape is difficult as it requires experience in many areas. Negotiating contracts, NIL NCAA By-Laws, applicable state laws and true Return on Investment based on each player just to name a few.

“The bigger problem is the ones that get affected are the kids and their family when things go south,” Ruiz said. “Dealing with honest people that don’t treat kids as pawns is at the core of a solid NIL platform. I hope to see that with time the rotten apples and phased out of the NIL space.”

AND

According to multiple sources with knowledge of the situation, the events that transpired at Florida mainly centered around NIL, or the lack of. A disagreement between the Rashada family and the on-campus Florida NIL groups caused friction between the pair, straining the relationship to a point of seemingly no return.

Also, I was told that the Florida collective paid-off a certain amount of money to the Miami collective, for funds already given to Rashada under the previous contract. When asked about this situation, John Ruiz could not comment on the matter.

Simply put, the money fell through. It wasn’t as if this was a football program problem, but more so the collective’s needing to figure out who to take pledges from, also who to trust.

Okay, the FL collective still looks like they're useless in all this but I'm not liking the look for Rashada either.

I know NIL isn't officially tied to a school but we all know the game: the players know, the schools know, the NCAA knows and the collectives know. The game is: we pay, you play for us.

If Rashada took money from Miami then flipped to FL, even with the understanding FL would repay Miami....... that's an a$$h*le move.

Unless this kid is the second coming of Cam Newton or Michael Vick, I hope nobody will touch him now. Taking money and dipping out is the kind of thing that gets people "dealt with" in the real world and college football is rapidly becoming a very real world when it comes to money.

If this is true about Rashada, there needs to be an example made. Kids becoming millionaires when they put in the work is acceptable. Kids taking upfront money and disappearing from a program and pinning repayment on a "transfer school" they then dip out on is beyond unacceptable.

Maybe I'm getting how this worked out wrong?

 

[volsagain]

It is probably safe to say that $13m (or $3.25m/year over 4 years) is on the very high end of what anybody made under the table. However, it was a totally opaque market, so who truly knows.

In the 30 for 30 doc about SMU, it was said that they were showing recruits on visits hundreds of thousands of dollars in a briefcase just to sign with SMU, and this was in the early 80s. That wouldn't even include what they made once they actually signed, or the dollar value of the non-cash gifts they received. They had a payroll, and you know schools with more resources were doing it as well. Reggie Bush and Chris Webber got nearly $300k in cash and gifts when they played, and those incidents were 20 and 30 years ago respectively. What is the likelihood that is the only money/goods they received? It would not shock me in the slightest if those guys received hundreds of thousands of dollars per year of cash + stuff when they were there.

High revenue college athletics (basically football and men's basketball) has been a de facto professional sport for decades now. NIL just acknowledges reality. Any endeavor that brings in hundreds of millions, or in some cases billions (like the NCAA Tournament) every year just isn't going to be "amateur" any longer. The way to bring a semblance of amateurism back into it would be to play in 10k seat stadiums, get all the games off of TV, not sell any team merchandise, etc. and get all the money out of it. But nobody wants that.

I think the biggest difference now you're having to pay all the recruits not just the 5 stars .