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Shilo Sanders declares bankruptcy following $11M judgment. NIL value in question.
Posted on 5/24/24 at 5:15 pm
Posted on 5/24/24 at 5:15 pm
Loving this. Shilo trying to hide assets from the security guard he maimed.
NIL the gift that keeps giving.
Players finding out about the real world: taxes and civil judgments.
ON3 LINK
NIL the gift that keeps giving.
Players finding out about the real world: taxes and civil judgments.
quote:
Sanders lost the judgement when it went to trial in 2022, and failed to appear. The court awarded Darjean an $11.89 million judgement against Sanders after finding he had committed assault and battery. Darjean has alleged this judgement has not been paid
quote:
Darjean, in bankruptcy court filings, has also alleged that Sanders hasn’t fully represented the totality of his assets.
And what is not clearly represented are Sanders’ NIL earnings, which Darjean has essentially alleged are being funneled through a pair of LLCs: Big 21 LLC and SS21 LLC. “On the surface, this omission is as glaring as it is preposterous because it is Shilo’s very NIL value and/or public value that are the source of the non-stop paid engagements and social media appearances,” the filing says. “The entire underpinning of the NIL concept is the value of the individual athlete, but Shilo chose not only to hide the value of the entire NIL endeavor with the ‘unknown’ listings for the two of the entities that were disclosed (Big 21 LLC and/or SS21 LLC), but Shilo intentionally failed to identify and disclose his individual NIL property interest anywhere in the schedules.”
ON3 LINK
This post was edited on 5/25/24 at 7:18 am
15
Posted on 5/24/24 at 5:43 pm to Covingtontiger77
What an idiot. Also, Deion didn’t make his son hire an attorney??
Posted on 5/24/24 at 6:04 pm to Covingtontiger77
I've heard the phrase garnishing wadges but why doesn't it happen to famous people? They seem to always duck payment.
Posted on 5/24/24 at 6:22 pm to Covingtontiger77
Why would assault and battery be a fine instead of jail time? $11 million seems excessive for this. I assume he never faced criminal charges and this was a civil case.
Posted on 5/24/24 at 6:24 pm to Covingtontiger77
My Memorial Day weekend is now off to a great start. Thank you for posting this
Posted on 5/24/24 at 6:28 pm to Walt OReilly
Yep, loving this
Posted on 5/24/24 at 6:48 pm to Covingtontiger77
You usually can’t get judgements based on intentional acts discharged in bankruptcy. I’m interested to see what happens here.
Posted on 5/24/24 at 6:59 pm to Covingtontiger77
The judge decreed that Shilo has to serve as the man’s butler
Posted on 5/24/24 at 8:01 pm to Covingtontiger77
Is Shilo the one who was showing off a Rolex?
Posted on 5/24/24 at 8:30 pm to Covingtontiger77
Posted on 5/24/24 at 9:11 pm to Covingtontiger77
He is tip of the iceberg. I was at a conference this week with a focus on NIL deals and accounting/tax implications. Multiple CPAs/Agents expressed concern over their clients having to file bankruptcy because they spent all their money and left none for their income tax liabilities. I was told majority are from very low income groups and have no way to recover from this. It’s pretty terrible
Posted on 5/24/24 at 9:15 pm to Rendevoustavern
quote:
their clients having to file bankruptcy because they spent all their money and left none for their income tax liabilities.
You can’t discharge tax liability in bankruptcy
Posted on 5/24/24 at 11:12 pm to Rendevoustavern
If a CPA really told you that turn and run from letting them touch anything you have.
More likely you are fibbing though.
More likely you are fibbing though.
Posted on 5/25/24 at 5:16 am to Auburn80
quote:
Why would assault and battery be a fine instead of jail time? $11 million seems excessive for this. I assume he never faced criminal charges and this was a civil case
According to an article I found, Sanders beat a security guard at his HS, when he was 15 (2015). It went to court in 2022. The guy is supposedly really messed up from the fight and was awarded that huge civil judgement.
I didn't know that you can civilly sue someone for something they did as a minor, especially 7 years later. I would have thought that he would have sued the father shortly after the incidence.
Regardless, 12M seems absurd. Sanders is never going to make anywhere near that much money. I am not sure how long this stays on him or how it would need to be satisfied. That would basically become indentured servitude to pay it off, which would he would never be able to do..
Posted on 5/25/24 at 6:10 am to brmark70816
whole lot of people who don't understand the law talking out of their arse here as usual.
Posted on 5/25/24 at 7:46 am to TomballTiger
quote:
whole lot of people who don't understand the law talking out of their arse here as usual.
WTF are you talking about. I stated that I don't know and it surprised me. If some kid hurt you, disabled you, would you wait until they are an adult to sue them? Or would you sure their rich parents?
Posted on 5/25/24 at 8:11 am to brmark70816
12 M is a fricking insane judgement.
Did he cripple this guy?
Did he cripple this guy?
Posted on 5/25/24 at 8:15 am to Rendevoustavern
quote:
He is tip of the iceberg
NIL will end up benefitting few, most will find themselves unemployed and broke.
Posted on 5/25/24 at 8:15 am to RogerTheShrubber
quote:
NIL will end up benefitting few, most will find themselves unemployed and broke.
opposed to being broke and unemployed having not ever gotten money?
Posted on 5/25/24 at 8:24 am to SammyTiger
quote:
opposed to being broke and unemployed having not ever gotten money?
I think there’s going to be a group that would have otherwise stayed at the same school four years and possibly gotten a free degree, who will now bounce around multiple schools never graduating and then either not making an NFL roster, or making one for less than three years.
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