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$13 Million QB recruit sues

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Feb 18, 2020
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He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.​

Story by Jared Diamond, Laine Higgins, Louise Radnofsky
• 3h
In the rapidly evolving landscape of college sports, where athletes can now rake in money off their name, image and likeness but can’t directly be paid to play, Jaden Rashada has emerged as the poster child for everything that could possibly go wrong.


He was a star quarterback lured to a big-time school with the promise of millions of dollars in endorsements. Then the deal fell apart, leaving Rashada with limited options and no money in his pocket.
Now, following a rocky two years during which he missed out on the possibility of a life-changing fortune, Rashada is lifting the veil on the seedy underbelly of recruiting in the NIL era.



On Tuesday, Rashada sued the University of Florida’s head football coach, an administrator and a top donor in federal court, alleging they fraudulently induced him to abandon a lucrative offer from another program to sign with the Gators instead.
The lawsuit accuses prominent Florida booster Hugh Hathcock of conspiring with Gators coach Billy Napier and former director of player engagement Marcus Castro-Walker to entice Rashada with a payday they had no intention of fulfilling. As a result of those “fraudulent assurances” from Florida, Rashada lost the chance to pursue other opportunities.


Rashada is believed to be the first person to file a lawsuit of this kind since a wave of states forced the NCAA to allow athletes to profit off their name, image and likeness in the summer of 2021.
His story stands as a prime example of the potential perils that exist in today’s college football, where players are paid not by their schools but by a shadowy network of donors with little oversight. It could even sway public opinion—and lawmakers’ appetite to overhaul college sports—as industry leaders confront the once unthinkable possibility of paying athletes directly.


“Sadly, this type of fraud is becoming more commonplace in the Wild West that is today’s college NIL landscape,” said Rusty Hardin, an attorney representing Rashada. “Jaden seeks to hold these defendants accountable for their actions and to expose their as-yet unchecked abuse of power.”
He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.

He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.© Provided by The Wall Street Journal
Hathcock, Napier and Castro-Walker didn’t immediately respond to requests for comment.
Rashada, one of the top high-school quarterbacks from the Class of 2023, initially committed to the University of Miami in June 2022 and struck a $9.5 million endorsement deal with a Hurricanes booster. Months later, he flipped his allegiance to Florida with the expectation he’d be receiving even more from Hathcock.

That never happened. Florida wound up releasing Rashada from his signed National Letter of Intent, and he ultimately enrolled at Arizona State. He appeared in three games for the Sun Devils last fall and recently transferred to Georgia. He isn’t expected to see much action this season.

NCAA regulations prohibit boosters from interacting with recruits or using the allure of NIL money to convince players to choose a specific school. Rashada’s claims, however, paint a picture of the ways that well-heeled donors attempt to exert their influence now that they can compensate athletes—and casts an ugly light on big-money football programs.

Rashada’s suit alleges that on his official visit to Gainesville in June 2022, Rashada spoke with Hathcock, an auto magnate and avid Gators football fan who has given millions to Florida. Hathcock told Rashada, according to the filing, that he would “make happen” whatever Rashada needed to pick Florida. (In an interview with The Wall Street Journal in November 2022, Hathcock said he never dealt directly with Rashada.)

Rashada says that even after he verbally committed to Miami, Florida continued to recruit him in the hopes he’d change his mind. In October 2022, Castro-Walker, Napier’s former deputy, sent a text message to one of Rashada’s agents that said, “Get us the QB.” Shortly after, Hathcock upped his offer to Rashada to $13.85 million over four years.

At one point, according to the suit, one of the facilitators of the deal texted Rashada’s agent, “Tell Jaden we look forward to setting him up for life” and, “Need to set up his brokerage accounts ASAP” and, “Dude is rich and we just got started.”
Late on the night of Nov. 10, Rashada announced on X that he was decommitting from Miami and heading to Florida. According to the lawsuit, Hathcock was on the hook to pay Rashada $500,000 by Dec. 5.

The funds never arrived. Instead, the quarterback received a letter on Dec. 6 saying his deal had been terminated. With the start of the early signing period looming, Rashada’s commitment to the Gators was suddenly in flux.
He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.

He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.© Provided by The Wall Street Journal
Castro-Walker told Rashada’s agents that Hathcock would find another way to get the quarterback his money, according to the lawsuit. When Rashada hesitated to sign his letter of intent later in December, Napier personally called Rashada’s father and told him his son would receive $1 million from Hathcock once he signed.

Less than an hour later, he did, believing he had nearly $14 million coming his way.
In the weeks that followed, however, the money that Rashada believed he was promised never arrived. In January, Napier agreed to release the quarterback from his letter of intent. The following month, Rashada signed with the Sun Devils—without any promise of endorsement deals. After a promising freshman season was cut short by injury, Rashada entered the transfer portal. He chose Georgia, a Southeastern Conference rival of the school that spurned him.

The NCAA has opened an investigation into potential violations committed by Florida in its recruitment of Rashada. But it has been required to pause its investigations into endorsement deals involving third parties because of other litigation. In filing a lawsuit, Rashada has now put the whole mess in front of a federal court to sift through.

Write to Jared Diamond at jared.diamond@wsj.com, Laine Higgins at laine.higgins@wsj.com and Louise Radnofsky at louise.radnofsky@wsj.com
 

He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.​

Story by Jared Diamond, Laine Higgins, Louise Radnofsky
• 3h
In the rapidly evolving landscape of college sports, where athletes can now rake in money off their name, image and likeness but can’t directly be paid to play, Jaden Rashada has emerged as the poster child for everything that could possibly go wrong.


He was a star quarterback lured to a big-time school with the promise of millions of dollars in endorsements. Then the deal fell apart, leaving Rashada with limited options and no money in his pocket.
Now, following a rocky two years during which he missed out on the possibility of a life-changing fortune, Rashada is lifting the veil on the seedy underbelly of recruiting in the NIL era.



On Tuesday, Rashada sued the University of Florida’s head football coach, an administrator and a top donor in federal court, alleging they fraudulently induced him to abandon a lucrative offer from another program to sign with the Gators instead.
The lawsuit accuses prominent Florida booster Hugh Hathcock of conspiring with Gators coach Billy Napier and former director of player engagement Marcus Castro-Walker to entice Rashada with a payday they had no intention of fulfilling. As a result of those “fraudulent assurances” from Florida, Rashada lost the chance to pursue other opportunities.


Rashada is believed to be the first person to file a lawsuit of this kind since a wave of states forced the NCAA to allow athletes to profit off their name, image and likeness in the summer of 2021.
His story stands as a prime example of the potential perils that exist in today’s college football, where players are paid not by their schools but by a shadowy network of donors with little oversight. It could even sway public opinion—and lawmakers’ appetite to overhaul college sports—as industry leaders confront the once unthinkable possibility of paying athletes directly.


“Sadly, this type of fraud is becoming more commonplace in the Wild West that is today’s college NIL landscape,” said Rusty Hardin, an attorney representing Rashada. “Jaden seeks to hold these defendants accountable for their actions and to expose their as-yet unchecked abuse of power.”
He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.

He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.© Provided by The Wall Street Journal
Hathcock, Napier and Castro-Walker didn’t immediately respond to requests for comment.
Rashada, one of the top high-school quarterbacks from the Class of 2023, initially committed to the University of Miami in June 2022 and struck a $9.5 million endorsement deal with a Hurricanes booster. Months later, he flipped his allegiance to Florida with the expectation he’d be receiving even more from Hathcock.

That never happened. Florida wound up releasing Rashada from his signed National Letter of Intent, and he ultimately enrolled at Arizona State. He appeared in three games for the Sun Devils last fall and recently transferred to Georgia. He isn’t expected to see much action this season.

NCAA regulations prohibit boosters from interacting with recruits or using the allure of NIL money to convince players to choose a specific school. Rashada’s claims, however, paint a picture of the ways that well-heeled donors attempt to exert their influence now that they can compensate athletes—and casts an ugly light on big-money football programs.

Rashada’s suit alleges that on his official visit to Gainesville in June 2022, Rashada spoke with Hathcock, an auto magnate and avid Gators football fan who has given millions to Florida. Hathcock told Rashada, according to the filing, that he would “make happen” whatever Rashada needed to pick Florida. (In an interview with The Wall Street Journal in November 2022, Hathcock said he never dealt directly with Rashada.)

Rashada says that even after he verbally committed to Miami, Florida continued to recruit him in the hopes he’d change his mind. In October 2022, Castro-Walker, Napier’s former deputy, sent a text message to one of Rashada’s agents that said, “Get us the QB.” Shortly after, Hathcock upped his offer to Rashada to $13.85 million over four years.

At one point, according to the suit, one of the facilitators of the deal texted Rashada’s agent, “Tell Jaden we look forward to setting him up for life” and, “Need to set up his brokerage accounts ASAP” and, “Dude is rich and we just got started.”
Late on the night of Nov. 10, Rashada announced on X that he was decommitting from Miami and heading to Florida. According to the lawsuit, Hathcock was on the hook to pay Rashada $500,000 by Dec. 5.

The funds never arrived. Instead, the quarterback received a letter on Dec. 6 saying his deal had been terminated. With the start of the early signing period looming, Rashada’s commitment to the Gators was suddenly in flux.
He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.

He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.© Provided by The Wall Street Journal
Castro-Walker told Rashada’s agents that Hathcock would find another way to get the quarterback his money, according to the lawsuit. When Rashada hesitated to sign his letter of intent later in December, Napier personally called Rashada’s father and told him his son would receive $1 million from Hathcock once he signed.

Less than an hour later, he did, believing he had nearly $14 million coming his way.
In the weeks that followed, however, the money that Rashada believed he was promised never arrived. In January, Napier agreed to release the quarterback from his letter of intent. The following month, Rashada signed with the Sun Devils—without any promise of endorsement deals. After a promising freshman season was cut short by injury, Rashada entered the transfer portal. He chose Georgia, a Southeastern Conference rival of the school that spurned him.

The NCAA has opened an investigation into potential violations committed by Florida in its recruitment of Rashada. But it has been required to pause its investigations into endorsement deals involving third parties because of other litigation. In filing a lawsuit, Rashada has now put the whole mess in front of a federal court to sift through.

Write to Jared Diamond at jared.diamond@wsj.com, Laine Higgins at laine.higgins@wsj.com and Louise Radnofsky at louise.radnofsky@wsj.com

What a mess. Hahaha.
 
what are our quarterbacks going to be worth next winter after leading N and
k-state to the cfp?
 

He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.​

Story by Jared Diamond, Laine Higgins, Louise Radnofsky
• 3h
In the rapidly evolving landscape of college sports, where athletes can now rake in money off their name, image and likeness but can’t directly be paid to play, Jaden Rashada has emerged as the poster child for everything that could possibly go wrong.


He was a star quarterback lured to a big-time school with the promise of millions of dollars in endorsements. Then the deal fell apart, leaving Rashada with limited options and no money in his pocket.
Now, following a rocky two years during which he missed out on the possibility of a life-changing fortune, Rashada is lifting the veil on the seedy underbelly of recruiting in the NIL era.



On Tuesday, Rashada sued the University of Florida’s head football coach, an administrator and a top donor in federal court, alleging they fraudulently induced him to abandon a lucrative offer from another program to sign with the Gators instead.
The lawsuit accuses prominent Florida booster Hugh Hathcock of conspiring with Gators coach Billy Napier and former director of player engagement Marcus Castro-Walker to entice Rashada with a payday they had no intention of fulfilling. As a result of those “fraudulent assurances” from Florida, Rashada lost the chance to pursue other opportunities.


Rashada is believed to be the first person to file a lawsuit of this kind since a wave of states forced the NCAA to allow athletes to profit off their name, image and likeness in the summer of 2021.
His story stands as a prime example of the potential perils that exist in today’s college football, where players are paid not by their schools but by a shadowy network of donors with little oversight. It could even sway public opinion—and lawmakers’ appetite to overhaul college sports—as industry leaders confront the once unthinkable possibility of paying athletes directly.


“Sadly, this type of fraud is becoming more commonplace in the Wild West that is today’s college NIL landscape,” said Rusty Hardin, an attorney representing Rashada. “Jaden seeks to hold these defendants accountable for their actions and to expose their as-yet unchecked abuse of power.”
He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.

He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.© Provided by The Wall Street Journal
Hathcock, Napier and Castro-Walker didn’t immediately respond to requests for comment.
Rashada, one of the top high-school quarterbacks from the Class of 2023, initially committed to the University of Miami in June 2022 and struck a $9.5 million endorsement deal with a Hurricanes booster. Months later, he flipped his allegiance to Florida with the expectation he’d be receiving even more from Hathcock.

That never happened. Florida wound up releasing Rashada from his signed National Letter of Intent, and he ultimately enrolled at Arizona State. He appeared in three games for the Sun Devils last fall and recently transferred to Georgia. He isn’t expected to see much action this season.

NCAA regulations prohibit boosters from interacting with recruits or using the allure of NIL money to convince players to choose a specific school. Rashada’s claims, however, paint a picture of the ways that well-heeled donors attempt to exert their influence now that they can compensate athletes—and casts an ugly light on big-money football programs.

Rashada’s suit alleges that on his official visit to Gainesville in June 2022, Rashada spoke with Hathcock, an auto magnate and avid Gators football fan who has given millions to Florida. Hathcock told Rashada, according to the filing, that he would “make happen” whatever Rashada needed to pick Florida. (In an interview with The Wall Street Journal in November 2022, Hathcock said he never dealt directly with Rashada.)

Rashada says that even after he verbally committed to Miami, Florida continued to recruit him in the hopes he’d change his mind. In October 2022, Castro-Walker, Napier’s former deputy, sent a text message to one of Rashada’s agents that said, “Get us the QB.” Shortly after, Hathcock upped his offer to Rashada to $13.85 million over four years.

At one point, according to the suit, one of the facilitators of the deal texted Rashada’s agent, “Tell Jaden we look forward to setting him up for life” and, “Need to set up his brokerage accounts ASAP” and, “Dude is rich and we just got started.”
Late on the night of Nov. 10, Rashada announced on X that he was decommitting from Miami and heading to Florida. According to the lawsuit, Hathcock was on the hook to pay Rashada $500,000 by Dec. 5.

The funds never arrived. Instead, the quarterback received a letter on Dec. 6 saying his deal had been terminated. With the start of the early signing period looming, Rashada’s commitment to the Gators was suddenly in flux.
He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.

He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.© Provided by The Wall Street Journal
Castro-Walker told Rashada’s agents that Hathcock would find another way to get the quarterback his money, according to the lawsuit. When Rashada hesitated to sign his letter of intent later in December, Napier personally called Rashada’s father and told him his son would receive $1 million from Hathcock once he signed.

Less than an hour later, he did, believing he had nearly $14 million coming his way.
In the weeks that followed, however, the money that Rashada believed he was promised never arrived. In January, Napier agreed to release the quarterback from his letter of intent. The following month, Rashada signed with the Sun Devils—without any promise of endorsement deals. After a promising freshman season was cut short by injury, Rashada entered the transfer portal. He chose Georgia, a Southeastern Conference rival of the school that spurned him.

The NCAA has opened an investigation into potential violations committed by Florida in its recruitment of Rashada. But it has been required to pause its investigations into endorsement deals involving third parties because of other litigation. In filing a lawsuit, Rashada has now put the whole mess in front of a federal court to sift through.

Write to Jared Diamond at jared.diamond@wsj.com, Laine Higgins at laine.higgins@wsj.com and Louise Radnofsky at louise.radnofsky@wsj.com
Now wait a minute. So, If I take a job at a company for say $180,000 a year, then before I start, I change my mind and go with another company for $250,000, then that makes the 2nd company responsible for the first deal if the second deal falls through? Really?

The problem here is that there's no rules and the boosters are not contractually bound to anything. What's going on now is money that used to be under the table is now over the table, and there's no actual contract or formal agreement. It can be pulled at any time, just like a scholarship. He has no case because there was nothing holding him to Florida if he left after collecting part of the money. No rules, no lawsuit.

Another thing, in 2023, he didn't exactly look like a $13.5 million dollar QB. This is getting more and more absurd by the minute.
 
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Now wait a minute. So, If I take a job at a company for say $180,000 a year, then before I start, I change my mind and go with another company for $250,000, then that makes the 2nd company responsible for the first deal if the second deal falls through? Really?

The problem here is that there's no rules and the boosters are not contractually bound to anything. What's going on now is money that used to be under the table is now over the table, and there's no actual contract or formal agreement. It can be pulled at any time, just like a scholarship. He has no case because there was nothing holding him to Florida if he left after collecting part of the money. No rules, no lawsuit.

Another thing, in 2023, he didn't exactly look like a $13.5 million dollar QB. This is getting more and more absurd by the minute.
An oral contract is a type of contract that is agreed to via spoken communication, but not written down and signed. Oral contracts are legally binding but can be difficult to prove in a court of law. The enforceability of oral contracts depends on the jurisdiction as well as the type of deal.
 
An oral contract is a type of contract that is agreed to via spoken communication, but not written down and signed. Oral contracts are legally binding but can be difficult to prove in a court of law. The enforceability of oral contracts depends on the jurisdiction as well as the type of deal.
If it ain’t in writing it didn’t happen
 
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If it ain’t in writing it didn’t happen
verbal contracts are worth no more/less than the paper they're printed on

this thread is another good reminder, however, that collegiate athletes are allowed to retain representation (agents) to negotiate and execute on their behalf.

in other words - legally binding NIL contracts exist today and are extremely commonplace for obvious reasons
 
Any athlete should walk his lawyer into the NIL room before he gets any promises and get it in writing. Lawsuit is going nowhere. His lawyer thinks U of F will settle for a $1,000,000 or something like that so they don't look so bad.
 
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Now wait a minute. So, If I take a job at a company for say $180,000 a year, then before I start, I change my mind and go with another company for $250,000, then that makes the 2nd company responsible for the first deal if the second deal falls through? Really?

The problem here is that there's no rules and the boosters are not contractually bound to anything. What's going on now is money that used to be under the table is now over the table, and there's no actual contract or formal agreement. It can be pulled at any time, just like a scholarship. He has no case because there was nothing holding him to Florida if he left after collecting part of the money. No rules, no lawsuit.

Another thing, in 2023, he didn't exactly look like a $13.5 million dollar QB. This is getting more and more absurd by the minute.
He didn’t change his mind. Florida told him on Dec6 . Right before early singing date the offer was off the table.this after he refused a Miami offer. Try reading the article before commenting.
 
Would you turn down a $9.5 mil job for a $13mil job? Dont see how that’s greedy

I think you take the first 9.5mil you can get your hands on personally and no, you don't wait for a better offer if you can sign that one. Greed cost him FU money for the rest of his life...and the irony is he committes to Miami, then wants out free and clear of his word, but wants Florida to stand by their word. He's an idiot who learned the bird in the hand lesson the hard way.
 
I think you take the first 9.5mil you can get your hands on personally and no, you don't wait for a better offer if you can sign that one. Greed cost him FU money for the rest of his life...and the irony is he committes to Miami, then wants out free and clear of his word, but wants Florida to stand by their word. He's an idiot who learned the bird in the hand lesson the hard way.

Yeah, but the difference is that he couldn't sign that one until signing day. So, the market is open season for better offers until that time. And everyone knows that. I get what you're saying, and it should be the way you're describing on principle, but that's not how things are set up in today's landscape.

BTW...$9.5M is not FU money for the rest of your life. Not even close. Or you and I have very different definitions of "FU money"
 
Would you turn down a $9.5 mil job for a $13mil job? Dont see how that’s greedy
Sounds like the Miami money was a little more legit, plus he had already committed and agreed to the deal. He brought this on himself.

Yes, I very well might turn that down. I go through this all the time with my teenagers when they start talking about some great, super high paying job. I always ask them what the catch is. Why is this employer paying so much and why did the last person leave if it was so great. Inevitably they always come back a month or 2 later and the catch was that the boss is a complete asshole and they got a fraction of the hours they were promised.
 
Yeah, but the difference is that he couldn't sign that one until signing day. So, the market is open season for better offers until that time. And everyone knows that. I get what you're saying, and it should be the way you're describing on principle, but that's not how things are set up in today's landscape.

BTW...$9.5M is not FU money for the rest of your life. Not even close. Or you and I have very different definitions of "FU money"
$5+ million after taxes for a 18 -21 year old? Maybe not for this dumbass, but if properly managed and invested? Absolutely.

He could invested that money right away, left it untouched until he was 30, and worked as a stocker at Walmart and lived a great life. A 4 year degree, no debt, and millions invested at 22. That's what I call set for life.
 
An oral contract is a type of contract that is agreed to via spoken communication, but not written down and signed. Oral contracts are legally binding but can be difficult to prove in a court of law. The enforceability of oral contracts depends on the jurisdiction as well as the type of deal.
AND only if both parties admit it like you said hard to prove
 
$5+ million after taxes for a 18 -21 year old? Maybe not for this dumbass, but if properly managed and invested? Absolutely.

He could invested that money right away, left it untouched until he was 30, and worked as a stocker at Walmart and lived a great life. A 4 year degree, no debt, and millions invested at 22. That's what I call set for life.
Ha! No kdding!

You could spend 1,000 dollars a day and it would last 14 years! And that is crazy.

a 4% rate would get him 200K a year. Even being super conservative he could make 50k+ a year just on interest.
 
Yeah, but the difference is that he couldn't sign that one until signing day. So, the market is open season for better offers until that time. And everyone knows that. I get what you're saying, and it should be the way you're describing on principle, but that's not how things are set up in today's landscape.

BTW...$9.5M is not FU money for the rest of your life. Not even close. Or you and I have very different definitions of "FU money"

He was eligible to start receiving NIL before he signed his papers for Miami..99.999% sure of that. Perfect opportunity to see if its a legit offer.

...and any amount of money you can invest and live on just the interest is FU money to most people. Now that assumes he doesn't purchase a Bugatti and 14 gold chains every year. So i'm probably wrong in his case.

Lastly, I appreciate the reasonable reply without resorting to douchemode. Lost art with a lot of people to disagree with others online without going full douche.
 
Ha! No kdding!

You could spend 1,000 dollars a day and it would last 14 years! And that is crazy.

a 4% rate would get him 200K a year. Even being super conservative he could make 50k+ a year just on interest.
Let's say he gets $1.3 million a year after taxes. He could buy a brand new car, pay off his parents house, etc., and be able to invest $1 million for the first 3 years. He could then take the last $1.3 million and buy a house, furnish it, and have hundreds of thousands to short-term invest and supplement his income. That is my exact definition of set for life. Debt free, paid off house, 3 million invested, with an emergency fund. At 22.
 
Let's say he gets $1.3 million a year after taxes. He could buy a brand new car, pay off his parents house, etc., and be able to invest $1 million for the first 3 years. He could then take the last $1.3 million and buy a house, furnish it, and have hundreds of thousands to short-term invest and supplement his income. That is my exact definition of set for life. Debt free, paid off house, 3 million invested, with an emergency fund. At 22.
Dude, I am with you.

I think people have a hard time grasping what even 1 million dollars looks like. I don't mean a million dollar home. I mean 1 million dollars in your savings account.
 
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Dude, I am with you.

I think people have a hard time grasping what even 1 million dollars looks like. I don't mean a million dollar home. I mean 1 million dollars in your savings account.
Yeah I know a couple “millionaires” who live paycheck to paycheck, but say they are worth a million since that’s what Zillow says their house is worth.
 
Yeah I know a couple “millionaires” who live paycheck to paycheck, but say they are worth a million since that’s what Zillow says their house is worth.
Yeah, I get that but I don't really count that.

I am just talking about a cool million in the bank.

By the way, I LOVE getting my monthly Zillow estimate!
 
Now wait a minute. So, If I take a job at a company for say $180,000 a year, then before I start, I change my mind and go with another company for $250,000, then that makes the 2nd company responsible for the first deal if the second deal falls through? Really?

The problem here is that there's no rules and the boosters are not contractually bound to anything. What's going on now is money that used to be under the table is now over the table, and there's no actual contract or formal agreement. It can be pulled at any time, just like a scholarship. He has no case because there was nothing holding him to Florida if he left after collecting part of the money. No rules, no lawsuit.

Another thing, in 2023, he didn't exactly look like a $13.5 million dollar QB. This is getting more and more absurd by the minute.
If there are no rules, and you can still identify the absurdity of the issue, do we need rules?

Spoiler alert: there are rules.

Spoiler alert #2: they'll be broken in this system just like they were in the previous system.

I think it's better that it's out in the open now.
 
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What’s obvious is he should’ve hired an agent and didn’t

Some people/families are equipped for these kinda of negotiations (Lamar Jackson, for example), some aren’t
 
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If there are no rules, and you can still identify the absurdity of the issue, do we need rules?

Spoiler alert: there are rules.

Spoiler alert #2: they'll be broken in this system just like they were in the previous system.

I think it's better that it's out in the open now.
I'm not saying we need rules for this ridiculousness. Rather, we need a return to amateur athletics in college. There needs to be a credible minor league system in the NFL and NBA to accommodate those who don't want to go to college. But parlaying the popularity of college football and men's college basketball into a money making scheme for only a few students (many of which don't play in sports or on teams that generate any real income) is bullshit.
 
He didn’t change his mind. Florida told him on Dec6 . Right before early singing date the offer was off the table.this after he refused a Miami offer. Try reading the article before commenting.
I read the article. It doesn't matter because there was never any formal agreement for Florida to pay the guy. The guys at Miami could have pulled their offer too if they had wanted. He has no legal standing because he had no contract with either school, just loose promises, similar to getting money before all of this NIL crap started.

The whole point of NIL was to allow athletes to profit on their popularity by making deals with outside companies to sponsor their products. What it predictably became was a way to launder booster money to players under the guise of NIL. It became a way to shovel booster money to players who have not attained any of the popularity yet needed to justify the use of their NIL.

Most people don't even know who this kid is and even a 5-star recruit has almost no NIL value until after they perform on the big stage in college. I doubt that this kid, now at Georgia, can go out there this summer and solicit offers from businesses to pay him to sponsor their products. I live in Georgia and my kids are graduates from Georgia, and he's just another guy on the team to us.
 
Seems the confusion is with the definition of "FU money" here. Set up comfortably for life if you're not too extravagant is not the same as FU money. FU money, by definition, is when you have so much money, you can tell just about anyone "FU" because you have so much money you just don't care about the consequences.

Ha! No kdding!

You could spend 1,000 dollars a day and it would last 14 years! And that is crazy.

a 4% rate would get him 200K a year. Even being super conservative he could make 50k+ a year just on interest.

$1,000 is a lunch for 2 on a Tuesday in FU money world. That's only $365K/year. Again, comfortable for sure, but not FU money.
 
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An oral contract is a type of contract that is agreed to via spoken communication, but not written down and signed. Oral contracts are legally binding but can be difficult to prove in a court of law. The enforceability of oral contracts depends on the jurisdiction as well as the type of deal.
Oral contracts are almost always unenforceable because it's almost always impossible to verify, especially for the kind of money we're talking about. But if you want to go down that rabbit hole, Miami then has a case against him for breaking their "oral" contract and any kid who had a NIL deal then de-commits is subject to legal action by the school he de-committied from.

A contract has to have consideration on both sides, and if Florida is libel, then he's libel to Miami. The court will see this as a silly circle jerk and throw it out. The players have to be bound to something also for it to be an actual contract.
 
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Seems the confusion is with the definition of "FU money" here. Set up comfortably for life if you're not too extravagant is not the same as FU money. FU money, by definition, is when you have so much money, you can tell just about anyone "FU" because you have so much money you just don't care about the consequences.



$1,000 is a lunch for 2 on a Tuesday in FU money world. That's only $365K/year. Again, comfortable for sure, but not FU money.
Hmmm, yeah I get that BUT if you don't have to work anymore, which clearly with 5 million in the bank you would not have to "work", that is FU money.

But I get your point too.
 
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Seems the confusion is with the definition of "FU money" here. Set up comfortably for life if you're not too extravagant is not the same as FU money. FU money, by definition, is when you have so much money, you can tell just about anyone "FU" because you have so much money you just don't care about the consequences.



$1,000 is a lunch for 2 on a Tuesday in FU money world. That's only $365K/year. Again, comfortable for sure, but not FU money.

I always thought of "FU Money" as having enough money that you can quit your job if you want....i.e. you can tell your boss "FU".
 
AND only if both parties admit it like you said hard to prove
no, that's silly. if both admitted the oral agreement, it wouldn't be in the courts. and that's why we have a discovery process in law, isn't it - like an email trail to prove the verbal agreement actually existed. it's cute to say an oral agreement is worth the paper it's (not) written on but that only shows a lack of understanding case law.

One of the most famous cases where a verbal contract was enforced in court is Pennzoil Co v. Texaco. In 1984, Pennzoil bought Getty Oil through an oral agreement, but later sold it to Texaco for a higher price. Pennzoil filed a lawsuit against Texaco, claiming they broke the oral agreement, and won. Pennzoil was awarded $9.1 billion in damages, plus interest and penalties, which was the largest award in US history at the time.
 
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no, that's silly. if both admitted the oral agreement, it wouldn't be in the courts. and that's why we have a discovery process in law, isn't it - like an email trail to prove the verbal agreement actually existed. it's cute to say an oral agreement is worth the paper it's (not) written on but that only shows a lack of understanding case law.

One of the most famous cases where a verbal contract was enforced in court is Pennzoil Co v. Texaco. In 1984, Pennzoil bought Getty Oil through an oral agreement, but later sold it to Texaco for a higher price. Pennzoil filed a lawsuit against Texaco, claiming they broke the oral agreement, and won. Pennzoil was awarded $9.1 billion in damages, plus interest and penalties, which was the largest award in US history at the time.
How did they prove it? Unless someone admitted it it would be someone's word against another's, right??
 
How did they prove it? Unless someone admitted it it would be someone's word against another's, right??
i could research your question, i suppose. but there are all sorts of paper trails and third parties who can testify to the validity of an oral agreement claim beyond a written contract. chevron in-house lawyers often said to me that my word was binding. see the texico case above as case law proof.

these coaches luring athletes are for the most part jocks, not schooled in law or business. i can see them making huge errors that a businessperson would never sniff.
 
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