It’s slightly better than my “fat midget” for Gabe Arnold
Why "Social Media" is great....
- Thread starter dunkej01
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Well timed, Chickenman.
Just imagine them
This gives another indication of the pressure Iranian wrestlers face at international events. . .
www.foxnews.com
Iranian weightlifter banned for life after shaking hands with Israeli opponent
Iranian weightlifter Mostafa Rajaei has been banned for life from the sport after he was pictured shaking hands with an Israeli competitor.
It’ll be hard to compete with Sebolt’s ties to Iowa
Not wrestling but interesting NIL suit brought by an athlete against a that will almost certainly succeed, revealing a pretty dark and predatory tactic that others have likely tried.
In 2020 University of Florida Football player Gervon Dexter signed an NIL deal with "Big League Adavance Fund II, LP" which paid him $436k to sign autographs, make appearances, etc., and in exchange Big League Advance Fund would receive 15% of Dexter's pre-tax NFL earnings for 25 years. [!]
Dexter got drafted this past year by the Bears and BLAF wants its money, so Dexter sued for a declaratory judgment, pointing to the Florida NIL statute, which essentially caps NIL contracts to the athlete's collegiate years.
I cannot imagine a scenario where a court enforces this contract, but I thought it interesting to flag because it's such a gross overreach (but probably somewhat common), and is perhaps indicative of just how seedy things have gotten. The Florida statute appears unambiguous but states are all over the place with their NIL statutes, and I can imagine such an arragement might be enforceable in another state.
Obviously this tactic has no particular application to wrestling.
Lawsuit here:
In 2020 University of Florida Football player Gervon Dexter signed an NIL deal with "Big League Adavance Fund II, LP" which paid him $436k to sign autographs, make appearances, etc., and in exchange Big League Advance Fund would receive 15% of Dexter's pre-tax NFL earnings for 25 years. [!]
Dexter got drafted this past year by the Bears and BLAF wants its money, so Dexter sued for a declaratory judgment, pointing to the Florida NIL statute, which essentially caps NIL contracts to the athlete's collegiate years.
I cannot imagine a scenario where a court enforces this contract, but I thought it interesting to flag because it's such a gross overreach (but probably somewhat common), and is perhaps indicative of just how seedy things have gotten. The Florida statute appears unambiguous but states are all over the place with their NIL statutes, and I can imagine such an arragement might be enforceable in another state.
Obviously this tactic has no particular application to wrestling.
Lawsuit here:
Don’t give Bob Nicolls any ideas.
To give context as to how bad this NIL "contract" is: Dexter signed with the Bears for 4 years and nearly $3.7M guaranteed. BLAF's 15% of that is $554k -- $120k more than they paid him in NIL.
If Dexter earns his full contract value, then BLAF would get over $1M.
Looks like Gervon's agent is smarter than BLAF's dealmakers. Pigs get fed, hogs get slaughtered.
My question would be: how did this deal get thru UF Athletics for Dexter to sign? Or did they review it and tell him, "go ahead and sign, they can't enforce it"?
What do you find most seedy?
Why do you believe the contract won't be enforced?
I don't see the nexus between FL NIL law only covering college years and the terms of some contract going beyond those years. Perhaps those terms are simply not part of the NIL, as they have nothing to do with payment for autographs, etc.
25yrs is more than any NFL career, so I guess they're including deferred salary and pension too.
It's looks to me like a payday loan on steroids. The company is named "Big League Advance Funds" afterall, which makes their intent pretty clear. They probably already have made similar contracts post graduation before NIL, which have been enforced.
Sure it smacks of taking advantage of and a partial return to indentured servitude.
But I recall universities, including PSU, floating the idea of taking a % of career earnings for some period in lieu of tuition for certain majors. It was proposed as a means to make university accessible to those who couldn't afford it. Although intent may differ, I would see this practice similar to Dexter's case. I don't know what would be illegal or unenforceable about it, either.
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It could go deep into Dexter's coaching career, if he is coach material and goes that direction.
Or, maybe they were expecting a Bobby Bonilla contract.
How bout THIS scenario….
Now Billy, you know we are giving you LOTS of money in this NIL package right?
How about we increase it by 50% ? But under one condition, you gotta miss a few of those 3 pointers this Friday night, I’ve got a lot of money riding on that game.
NIL is devil’s work.So glad Cael takes great measure to seek out the kids with integrity.
Now Billy, you know we are giving you LOTS of money in this NIL package right?
How about we increase it by 50% ? But under one condition, you gotta miss a few of those 3 pointers this Friday night, I’ve got a lot of money riding on that game.
NIL is devil’s work.So glad Cael takes great measure to seek out the kids with integrity.
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Contracts where the parties are clearly imbalanced in terms of power and sophistication are considered predatory and potentially unconscionable. Even if the terms ultimately work out to "fair," whatever that looks like, courts prefer seeing disclosure, notice, and representation at the time they're signed.
When the defendant answers we may see some of that (or more likely something purporting to substitute for all that), but I'm very skeptical because NIL deals are still the wild west--the people to whom these laws explicitly apply don't know the law or are actively ignoring the law, if there even is any, and the law just gets in the way of making money.
I didn't get into it here but the lawsuit also covers the sketchiness involving Dexter's agent (who wasn't licensed in FL, in contravention of U of F requirements) who had brought the deal to him, including the fact that U of F wasn't even notified of the deal's existence, as was required by the NIL statute and NCAA.
Below, you identify this as a payday loan on steroids. Payday loans are the exemplar of predatory contracts. This is a bit like a payday loan but also a bit like a reverse mortgage, the second commonly-cited exemplar of a predatory contract.
Fla. St. sec. 1006.74(2)(j):
Louisiana, Georgia, and Arkansas have an identical clause in their NIL laws.
Further, U of F specifically mandates that:
There's probably a way to do this in a way that better protects the student athletes from the jackals but I don't think they're there yet. Fifteen percent is a lot, especially left open-ended as it is.
As El-Jefe noted above, if you run the numbers on the NFL contract Dexter ultimately signed, defendants would be repaid on their investment + $100k (presuming no other contract is signed and setting aside things like pensions and deferred salary), but the entire premise of the NIL deal was that Dexter was getting $436k in exchange for the value he would provide with his autographs, endorsements, appearances, etc. I don't closely follow SEC football to have even heard of Dexter or know whether he even tried to fulfill that side of the bargain, but I'm going to guess that the NIL part of the deal was merely a thin pretext to structure a payday loan.
If Dexter prevails and the court declares the contract void and unenforceable, which I believe it will, under basic contract principles restitution typically requires the return of the original payment (the $436k). However, Fl St. sec. 468.454(4) states that
The NIL deal wasn't an "agent contract" per se, but I believe the NIL contract, since it was brought by the agent, would still fall under this.
Tikk10. I thought the same thing regarding reverse mortgages. On the company's side they take all of the risk. What if it was journey Brown or Tengwall that signed this. Would we still be calling them predators? If it was a reverse mortgage and for some reason the home value skyrocketed would we feel bad for the old owner?
Btw. They do the same things with minor league baseball players. I watched a feature news story about this same thing on 60 minutes or hbo Bryant gamble show. I don't recall which. Some of these kids make it and are paying back a lot of money, but a lot never make at all.
Btw. They do the same things with minor league baseball players. I watched a feature news story about this same thing on 60 minutes or hbo Bryant gamble show. I don't recall which. Some of these kids make it and are paying back a lot of money, but a lot never make at all.
When they're drafting an NIL deal the size of Dexter's they have a reasonably good idea of how high he's going to get drafted, that much I'm certain of. Yes, there's risk, but it's well-researched and managed risk. Maybe they're even taking out insurance policies to hedge the bets--I would.
Re reverse mortgages, they're instructive here because when they first blew up in popularity they were mostly predatory and the seniors who went all in burned themselves and their heirs who stood to inherit. But many states have stepped in and shored up the laws around reverse mortgages, and the terms and provisions are now much more fair to homeowners. NIL could use similar shoring up.
But putting aside policy and whether it's a good idea or bad idea and how to best implement it--the deal Dexter signed ignored a laundry list of laws and regulations that exist specifically to protect student athletes. Under FL's NIL law there doesn't appear to be a way to structure a deal like the one they structured, which is probably why they never presented it to the U of Florida.
Hmmm
Career pro earnings aren't looking so large.
100% - 15% (NIL forever free) - 5% to 10% (Agent fees) - (40% Fed & State taxes) = 35% before buying a big house, fast car, and a hot wife that takes 50% in the divorce.
Career pro earnings aren't looking so large.
100% - 15% (NIL forever free) - 5% to 10% (Agent fees) - (40% Fed & State taxes) = 35% before buying a big house, fast car, and a hot wife that takes 50% in the divorce.
Let's just say whoever told this young man it was ok to take this deal did not have his best interests at heart. That deal is just dumb as shit all the way around
Among many interesting comments, MMA in his future.
@tikk10 - Could the defendants argue to the Supreme Court that Florida law is contrary to their prior decision that created NIL?
I understood that decision to say no provision allowed that prevents a student athlete from earning based on NIL. It's seems similar to the Court's present stance on the 2nd Amendment.
Couldn't the defendants argue the Florida Law is contrary, and proffer that they would not have offered the contract otherwise?
Was the Supreme Court's decision limited to the NCAA?
What even is the basis of the Florida law? What general public good is assured by this law?
And I still wonder whether the law's statements of consideration might make clear that its wording only intended to apply to the student athlete for the period that they are a student athlete, or Defendants will argue this.
I understood that decision to say no provision allowed that prevents a student athlete from earning based on NIL. It's seems similar to the Court's present stance on the 2nd Amendment.
Couldn't the defendants argue the Florida Law is contrary, and proffer that they would not have offered the contract otherwise?
Was the Supreme Court's decision limited to the NCAA?
What even is the basis of the Florida law? What general public good is assured by this law?
And I still wonder whether the law's statements of consideration might make clear that its wording only intended to apply to the student athlete for the period that they are a student athlete, or Defendants will argue this.
Olympic champ David Taylor tops Hagerstown’s Aaron Brooks at Final X
Andy MasonThe Herald-Mail
A changing of the guard will have to wait as the 86-kilogram weight class still belongs to David Taylor in men’s freestyle wrestling.
In a showdown of Penn State legends, Taylor swept Hagerstown’s Aaron Brooks 2-0 in a best-of-3 series during the Final X wrestling extravaganza Saturday at the Prudential Center in Newark, N.J.
Taylor — the reigning world and Olympic champion — won the first bout 6-0 and the second 5-4 to earn a spot on Team USA for the 2023 world championships in Serbia in September, with Brooks as the first alternate.
Final X featured the country’s top two wrestlers in each weight class in men’s freestyle, women’s freestyle and men’s Greco-Roman.
Brooks, a 2018 North Hagerstown graduate, earned his spot in Final X by winning the U.S. Open on April 28 in Las Vegas. As the defending world champion, the 32-year-old Taylor had an automatic berth.
At Penn State, Taylor went 134-3 and was a two-time NCAA champion and a two-time runner-up. He won the Hodge Trophy as the nation’s top college wrestler in 2012 and 2014.
Brooks, who will turn 23 this month, is a three-time NCAA champ at 184 pounds for the Nittany Lions with a year of eligibility remaining.
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Not sure why you think the FL law is contrary to the SCOTUS decision because it definitely isn't. SCOTUS was merely telling the NCAA it could no longer prevent student athletes from receiving education-related benefits.
They did signal that they were opening the door for more litigation (helped by a 9-0 opinion) but I believe one justice even joked that that didn't necessarily mean the NCAA couldn't still enforce a "no Lamborghini" rule.
In response to Alston the NCAA left it to the states to set guidelines and the states are well within their rights to set them. The NCAA then promptly abdicated its enforcement role.
It's hypothetically conceivable that the states could violate Alston, but a contract relating to student athletes' pro future earnings is miles away from education-related benefits.
I'll leave the legalese to Tikk, but note here that many laws are about protecting specific groups rather than the "general public good." This is such an instance (as college athletes are a very limited subset of the population), and rightly so given the volume of scumbags associated with athletics.
The Florida provision allowing student-athletes to void non-conforming NIL contracts and keep the money is genius. It assigns ALL of the risk of underhanded deals to the offerer. Even a flatworm turns away from pain.
First the poor student athletes are “exploited” by only getting a scholarship worth a quarter of a million dollars.
Then they are “exploited” because they signed a deal giving away potential future earnings so they can drive a bigger car as BMOC.
Meanwhile college students in general are “exploited” by the federal government (and by extension all taxpayers) because they signed up for government loans with no plans to pay them back.
Is there any chance anyone will be held accountable for themselves anymore?
Then they are “exploited” because they signed a deal giving away potential future earnings so they can drive a bigger car as BMOC.
Meanwhile college students in general are “exploited” by the federal government (and by extension all taxpayers) because they signed up for government loans with no plans to pay them back.
Is there any chance anyone will be held accountable for themselves anymore?
After seeing him at Final X in Newark, I was struck with how keeping 184 must have been a challenge for him. I think he will have a dominant season at 197. I'd love to see him dismantle an Italian sports car.
I’m excited to see him wrestle. He’s always been very good in freestyle and his style is super exciting to watch
Pep rally checking all the boxes for Jammen.
Kurt Angle Surprised Match Was Never Given Five Stars By Dave Meltzer
Written by Dominic DeAngelo • Published 29th August 2023Add Inside The Ropes to your Google News feed >
Kurt Angle is bewildered just as much as the fans that he never got a five-star match courtesy of Dave Meltzer.
The Olympic Hero spoke with Chris Van Vliet in a new interview and an ongoing topic The Kurt Angle Show has been Meltzer’s omission of five star’s from Angle’s “Wrestling Observer resume.” Angle isn’t super affected by never getting the nod, but he is surprised at such a
Apparently Levi wrestled most of the season with a torn meniscus.
As a kid who just turned 19 last Saturday, that’s incredibly impressive. He’s eligible for U20 Worlds for two more years.
As a kid who just turned 19 last Saturday, that’s incredibly impressive. He’s eligible for U20 Worlds for two more years.
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