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Are NIL deals voidable?
Posted on 2/3/22 at 12:45 pm
Posted on 2/3/22 at 12:45 pm
Let's say a player who is highly ranked and recruited gets an offer of 50k-100k per year. If he doesn't pan out as an All-SEC or All-American player, can the "business" void the rest of the NIL deal?
14
Posted on 2/3/22 at 12:48 pm to ZBeaux10
Not sure how it works, but I would assume they sign a contract. If that’s the case, they couldn’t void it. Plus, it’s Name Image Likeness so technically it’s not performance based.
Posted on 2/3/22 at 12:48 pm to ZBeaux10
It would probably all depend on the wording of the contract.
Posted on 2/3/22 at 12:49 pm to ZBeaux10
I would think there would be language contained to make them voidable, yes. On those circumstances? I doubt it
Posted on 2/3/22 at 12:54 pm to Brendoni
quote:
Plus, it’s Name Image Likeness so technically it’s not performance based.
That's what I figured. I just wonder what's going to happen to these huge deals like Matthews got if he transfers or doesn't pan out. I know the majority of NIL deals are nowhere near 100k, but there's no telling what is going to happen in the near future.
Posted on 2/3/22 at 12:55 pm to ZBeaux10
What I have been wondering do these kids have legal reps when they sign these deals? Wouldnt that be sort of an agent? These are contracts they are signing, right?
Posted on 2/3/22 at 12:55 pm to ZBeaux10
I posted this yesterday. Jimmy Smith was on WWL yesterday talking about how the big ones are structured. He said they are voidable at any time. They are set up to payout in 3 & 6 month increments. The first payment at the end of Spring ball and then the 2nd payment at the end of the season. In between they are requiring the players to do appearances, sign things, etc. He hasn't heard of any monthly payment plans. These kids are signing actual contracts so lawyers are heavily involved.
That's supposedly what Aggy did for this class. Had a team of lawyer's set up creating LLC's for the higher ranked kids and then setting up the deals.
That's supposedly what Aggy did for this class. Had a team of lawyer's set up creating LLC's for the higher ranked kids and then setting up the deals.
This post was edited on 2/3/22 at 12:57 pm
Posted on 2/3/22 at 1:31 pm to ZBeaux10
It depends on how the contract is written
Posted on 2/3/22 at 1:36 pm to ZBeaux10
lol it's just a contract like any other contract. There are some minor restrictions on what can be put into that contract based on Louisiana's NIL legislation, but the answer to your question depends on what the contract says.
This post was edited on 2/3/22 at 1:38 pm
Posted on 2/3/22 at 1:36 pm to ZBeaux10
I don’t think they can be tied into performance but who knows
Posted on 2/3/22 at 1:40 pm to ZBeaux10
It's a contract between a business and a person, I'm sure there is wording in there that allows them to be voided. I'm also certain that these contracts aren't standard across the board, so there are probably reasons that contract A can be voided that don't apply to contract B.
Posted on 2/3/22 at 1:47 pm to Ed Osteen
It depends on the wording of the contract. The contract determines how it can be terminated. But the ncaa has rules against it containing performance incentives.
Posted on 2/3/22 at 2:12 pm to ZBeaux10
Depends on how good your attorney is...
Posted on 2/3/22 at 2:51 pm to ZBeaux10
Disaster in waiting...
Posted on 2/3/22 at 3:01 pm to ZBeaux10
The NIL deals are “supposed to be” structured as marketing contracts and not performance based. Id imagine they can be voided for certain things like character issues, but not bc they didnt perform on the field.
Posted on 2/3/22 at 3:04 pm to ZBeaux10
Surely language in the contract to protect the business that the player has to remain at the school for the player to be continued to be paid under the terms of the contract. The contracts aren't all up front money but spread out in periodic payments. Probably some money up front when player signs.
Posted on 2/3/22 at 3:05 pm to ZBeaux10
No lawyer but I understand these to be between private businesses and the player. Terms can vary deal by deal.
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