so the QB recruit at Florida...

[Newhouser]

The Athletic reports the school's NIL collective was offering him millions of dollars - for a 4 star? And now that the school has reneged on the deal does every recruit ask for the money up front? I guess they had to back off because the fund was well short of the millions.
We are cooked unless this thing gets reigned in.

 

[upperdeck]

the question is how long is that sustainable. Its one thing to come up with millions for 1-2-3 yrs.. but is that a 5-10-20 yr path . the avg fan isnt kicking in big yr after yr. how much is the rich dude gonna throw at this every year no matter how much money you have.

 

[texascpa]

Didn't hear this, but he certainly could have a legal case against the courters. It seems he had a verbal deal with them. Would be interesting if he sued.

 

[AAM62]

External investors financing high risk, multi million dollar deals with no return profile? No shot this is sustainable to this level.

 

[hoopsupstate]

Didn't hear this, but he certainly could have a legal case against the courters. It seems he had a verbal deal with them. Would be interesting if he sued.

It’s a tough situation. It now sounds like he came before he enrolled for the money. You’re not supposed to do that. He sues, he’s screwed.

 

[PoppyHart]

Are these collectives betting on an athlete’s future earnings?i.e. paying millions up front for a % of future NFL earnings?

 

[dollarbill44]

Are these collectives betting on an athlete’s future earnings?i.e. paying millions up front for a % of future NFL earnings?

I don't think that's legal under NIL rules. That wouldn't be a payment for image and likeness.

 

[richmondcuse03]

I don’t see how it’s sustainable without schools losing donations. The money comes from somewhere. I doubt people are going to subsidize it forever without results or something in Exchange. It’s a shiny new object right now. But the one percent is the one percent for a reason.

 

[All4SU]

I don’t see how it’s sustainable without schools losing donations. The money comes from somewhere. I doubt people are going to subsidize it forever without results or something in Exchange. It’s a shiny new object right now. But the one percent is the one percent for a reason.

And people only need so many autographs…

 

[LeMoyneCuse]

The Athletic reports the school's NIL collective was offering him millions of dollars - for a 4 star? And now that the school has reneged on the deal does every recruit ask for the money up front? I guess they had to back off because the fund was well short of the millions.
We are cooked unless this thing gets reigned in.

Reading The Athletic article. All booster driven, little to do with the school.

 

[NYCCuse826]

The Athletic reports the school's NIL collective was offering him millions of dollars - for a 4 star? And now that the school has reneged on the deal does every recruit ask for the money up front? I guess they had to back off because the fund was well short of the millions.
We are cooked unless this thing gets reigned in.

The school didn't renege. The booster based collective was hoping the deal would have been funded by the time he was to arrive.

 

[Capt. Tuttle]

External investors financing high risk, multi million dollar deals with no return profile? No shot this is sustainable to this level.

They do car ads. Now fans know who supports the team. They buy more cars. It’s an advertising expense for a business

 

[Dcuse]

Didn't hear this, but he certainly could have a legal case against the courters. It seems he had a verbal deal with them. Would be interesting if he sued.

Not a chance. These things aren’t binding. This will happen a ton more. If you want to live by the slime, you could die by the slime. College sports is scum now. The only way to turn it around is if fans were all to agree and stop spending a dime on it which would never happen unfortunately.

 

[AAM62]

They do car ads. Now fans know who supports the team. They buy more cars. It’s an advertising expense for a business

Sure, but think of a 13m contract for one player to get a feel of the quantum. If you’re making those deals, your fund is probably in the 30m per year range.

Ask yourself how much a local car dealership is contributing to that?

 

[texascpa]

Not a chance. These things aren’t binding. This will happen a ton more. If you want to live by the slime, you could die by the slime. College sports is scum now. The only way to turn it around is if fans were all to agree and stop spending a dime on it which would never happen unfortunately.

I'm not a lawyer, I will admit, but if there was a verbal agreement, then it is binding.

 

[jgeorge322]

Didn't hear this, but he certainly could have a legal case against the courters. It seems he had a verbal deal with them. Would be interesting if he sued.

Lol love it - sue a collective for breach of contract. It will happen eventually.

 

[PoppyHart]

I'm not a lawyer, I will admit, but if there was a verbal agreement, then it is binding.

Not true. There are several types of contracts that must be in writing, including multi-year contracts and those above a certain dollar amount.

 

[All4SU]

Not a chance. These things aren’t binding. This will happen a ton more. If you want to live by the slime, you could die by the slime. College sports is scum now. The only way to turn it around is if fans were all to agree and stop spending a dime on it which would never happen unfortunately.

I’ve said it, but I’ll repeat it. The fans have to ask: What services are these players providing to earn these exorbitant amounts? Make these NIL clearing houses provide specific information. Make the process accountable. It will still be ridiculous, but at least then everyone can see how big the beast is.

 

[Toga]

I don't think that's legal under NIL rules. That wouldn't be a payment for image and likeness.

 

[Toga]

The Collective

 

[Cuse181]

I’ve said it, but I’ll repeat it. The fans have to ask: What services are these players providing to earn these exorbitant amounts? Make these NIL clearing houses provide specific information. Make the process accountable. It will still be ridiculous, but at least then everyone can see how big the beast is.

It’s too subjective, a collective might say “the goodwill created by my collective = X and it’s hard to say it did or didn’t

 

[All4SU]

It’s too subjective, a company might say “the goodwill created by my company = X and it’s hard to say it’s did or didn’t

True. But will expose the companies individuals for the poor investments they make.

 

[Dcuse]

I'm not a lawyer, I will admit, but if there was a verbal agreement, then it is binding.

Not according to Judge Judy.

 

[jgeorge322]

I'm not a lawyer, I will admit, but if there was a verbal agreement, then it is binding.

Not true. There are several types of contracts that must be in writing, including multi-year contracts and those above a certain dollar amount.

I hate to break it to you guys, but a written agreement is a verbal agreement. Verbal just means words were used to communicate instead of sign language or smoke signals. The type of contract to which you refer is an oral contract. Some types of oral contracts are unenforceable. For example, the statute of frauds provides that an oral contract for a sale or real estate is not enforceable. That being said, in general, oral contracts are enforceable but you might have difficulties establishing a contract exists without written proof.

A lot of clever people on here say that silent verbal is an oxymoron. They would be incorrect if the silent verbal was given in writing, for example, through a text message.

 

[texascpa]

I hate to break it to you guys, but a written agreement is a verbal agreement. Verbal just means words were used to communicate instead of sign language or smoke signals. The type of contract to which you refer is an oral contract. Some types of oral contracts are unenforceable. For example, the statute of frauds provides that an oral contract for a sale or real estate is not enforceable. That being said, in general, oral contracts are enforceable but you might have difficulties establishing a contract exists without written proof.

A lot of clever people on here say that silent verbal is an oxymoron. They would be incorrect if the silent verbal was given in writing, for example, through a text message.

Yes, thank you for correcting the syntax. It is oral, not verbal. My point stands, however. This is not real estate, which I was aware of the legal distinction (thank you business law class), so he could try to enforce it through the courts. I've never started he would win, just wanted to point out contacts don't have to be written, in most cases.