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Former Gator Gervon Dexter files lawsuit over NIL deal
Posted on 9/6/23 at 11:07 am
Posted on 9/6/23 at 11:07 am
quote:
Dexter, a second-round draft pick, agreed to pay Big League Advance Fund (BLA) 15% of his pre-tax NFL earnings for the next 25 years in exchange for a one-time payment of $436,485 in 2022, according to a copy of a federal lawsuit filed in the U.S. District Court in Gainesville, Florida, on Friday.
I guess they don't teach math at Florida.
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Posted on 9/6/23 at 11:11 am to bigDgator
Recruits need to be paying attention. Plenty of folks lining up to take advantage of 17 year olds.
Posted on 9/6/23 at 11:14 am to bigDgator
quote:
15% of his pre-tax NFL earnings for the next 25 years in exchange for a one-time payment of $436,485 in 2022
What the frick
Posted on 9/6/23 at 11:14 am to bigDgator
Anybody got the hate to see it/love to see it gif all queued up?
Posted on 9/6/23 at 11:15 am to BevoBucks
quote:
According to published reports, Dexter signed a four-year, $6.72 million contract with the Bears on June 16, meaning he would owe BLA about $1 million over the lifetime of that deal.
So that is 1 million after just 4 years.
This post was edited on 9/6/23 at 11:18 am
Posted on 9/6/23 at 11:18 am to bigDgator
Wow, you should always read what you sign
Posted on 9/6/23 at 11:19 am to bigDgator
quote:
agreed to pay Big League Advance Fund (BLA) 15% of his pre-tax NFL earnings for the next 25 years in exchange for a one-time payment of $436,485 in 2022
Posted on 9/6/23 at 11:21 am to bigDgator
So he’s trying to lose more money in court?
Posted on 9/6/23 at 11:21 am to bigDgator
Holy shite how stupid is he for signing that?
Posted on 9/6/23 at 11:23 am to BevoBucks
quote:
Plenty of folks lining up to take advantage of 17 year olds.
Thbis is what people wanted.
Let them get paid!
They desrve compensation!
It's not fair! Schools are treating them as slave labor and rakign in profits based on their performance!
Y'all wanted them to be professionals instead of amateur student athletes so here ya go. This dude was gonna be a multimillionare several times over in 36 months after graduating HS, but he simply coudln't wait. Now that it's a free for all he had to have his $400K RIGHT NOW dammit. And this is the result.
Posted on 9/6/23 at 11:29 am to WG_Dawg
quote:
Y'all wanted them to be professionals instead of amateur student athletes so here ya go. This dude was gonna be a multimillionare several times over in 36 months after graduating HS, but he simply coudln't wait. Now that it's a free for all he had to have his $400K RIGHT NOW dammit. And this is the result.
That's damn right.
I hope he loses and wracks up another million in legal fees.
This post was edited on 9/6/23 at 11:34 am
Posted on 9/6/23 at 11:33 am to CarolinaGamecock99
quote:
Holy shite how stupid is he for signing that?
It's about what I would expect from a high school or middling college student. Problem is that many don't have a good advocate they can turn to for advice on a contract or loan. All their hangers-on are just looking for quick easy cash and would readily advise someone to sign it with no concern of future obligations.
This post was edited on 9/6/23 at 11:33 am
Posted on 9/6/23 at 11:40 am to Saskwatch
quote:The agents gots to get paid. The handlers gots to get paid. Momma, daddy, grandmomma and aunties gots to get paid. Err'body wants a piece of the pie, and the family wants it geared towards them more than the street agents.
It's about what I would expect from a high school or middling college student. Problem is that many don't have a good advocate they can turn to for advice on a contract or loan. All their hangers-on are just looking for quick easy cash and would readily advise someone to sign it with no concern of future obligations.
Posted on 9/6/23 at 11:45 am to bigDgator
Oher 2.0
Posted on 9/6/23 at 11:57 am to Saskwatch
“Advice” on a loan that even the financially-challenged can see *at first glance* is a TERRIBLE deal?
Maybe a lawyer to read through the verbiage for you, yeah, but we’re not exactly talking calculus or understanding how derivatives work here.
Maybe a lawyer to read through the verbiage for you, yeah, but we’re not exactly talking calculus or understanding how derivatives work here.
This post was edited on 9/6/23 at 12:15 pm
Posted on 9/6/23 at 12:02 pm to bigDgator
Looks like he owes it. He agreed and he was an adult and now he wants out. Sorry, but the BLA fund took a chance on him and fronted him for a lot of money
Posted on 9/6/23 at 12:05 pm to bigDgator
Where were Dexter's attorneys when this got signed? Now that the money is real, the line to take it is getting long.
What did he think he was signing? It may be deemed predatory, but he agreed to it contractually.
What did he think he was signing? It may be deemed predatory, but he agreed to it contractually.
Posted on 9/6/23 at 12:10 pm to ReversePiggie
quote:
Where were Dexter's attorneys when this got signed? Now that the money is real, the line to take it is getting long.
What did he think he was signing? It may be deemed predatory, but he agreed to it contractually.
Unfortunately these scumbags have been at this for some time now and have so far survived a ton of litigation.
They even give you a lawyer to help you understand the contract, which is always an incredible red flag.
They will burn in hell along with all the other shylock predatory lenders, but the court system seems to back them to some extent until that day.
Here is the terrible human being behind this scam.
LINK
Posted on 9/6/23 at 12:11 pm to bigDgator
So as long as he makes less than $2,909,900 over the next 25 years, than he will be positive
Posted on 9/6/23 at 12:12 pm to ReversePiggie
I love that it is pre-tax money. Take that shite off the top.
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