So is Perry in the portal or not? Seems to be conflicting reports.
I think everyone is getting contacted and if the money is right these guys are transferring. Until the portal deadline is over I wouldnât count on anything- remember Graham Nicholson
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I believe a large number of those are small school. I saw that yesterday. Apparently everyone in DII, DIII, and NAIA is in the portal!!
From Tariq Ahmad today. This is exactly the type of liquidated damage clause I have been talking about:
"Schools will require athletes to sign multi-year agreements for NIL funds
- With the transfer portal allowing athletes to move schools at will, schools will require loyalty from said athletes in the terms of signed agreements tied to NIL money.
- If a student-athlete transfers at any time during their signed contractual dates, they will either be required to pay back a portion of money to the school, or will not receive any future funding."
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Is that legal?
So the guy/gal doesnât pay it back. Do they/can they go after the school they transferred to?
Could they put language that says if they donât pay it back they lose eligibility or maybe they will sue the school they go to.
Maybe something in the contract that gives it some real teeth/consequences if they donât pay it back.
While I think this is a good start it does nothing to corral the big money P4 programs and their boosters. It only penalizes the student-athlete.
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I dont think it is really a big punishment to expect a multi year commitment- employers do that all the time with signing bonuses and education reimbursement
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The company I am at just hired a new girl for communications. We had to agree to wait until a certain date for her to begin, because she was under a contract with a news station, and she would have to pay a penalty if she left the company early.
True, but it doesnât address or prevent the widespread tampering and poaching by big money P4 programs. You canât only penalize one of the two parties involved in this mess and expect different results. tOSU, Michigan, Texas, Alabama, etc. arenât going to give a ratâs ass if someone they poach has to forfeit a portion of their NIL money.
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Look, everyone is commenting like there is some perfect fix. THERE ISN"T!! At this point it is can we do anything to improve (not fix) a totally broken system.
Totally agree. There are going to be some really sad stories around NIL, the portal, and kids broke and without degrees. What many people donât know is the big EA sports settlement is being paid out to kids over a 10 year period. I have a former walk on from a P5 school who got ~ $10K from the settlement, so he gets a $1,000 per year. He has been contacted by several former higher profile teammates who are getting $100K-$750K from the settlement. These are guys who were good players but didnât make it at the professional level and are broke again already. There are groups out there getting these kids to sign away their right to the settlement for pennies on the dollar. One, for example, just signed over his $300K paid over 10 years for a $50K lump sum. These groups are basically the JG Wentworth of the NIL era. When tax bills and balloon car loan payments start coming due, these groups are going to clean up with these kids.
Employers do it. But guess what the colleges have argued the student-athetes are notâŚ
If the new school wants the player badly enough, theyâll treat the liquidated damages clause like a coachâs buyout clause and cover it.
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I just wonder when NIL whales at the non-Top 20 schools wake up and say âYa know, Iâm getting zero return on my investment. F this.â Five years?
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Less.
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Sure but the former employer is still compensated
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I honestly feel that each D1 team should be capped to pay an athlete no more than what they pay there lowest paid assistant coach. The P4 would still have a distinct advantage, but it would at least even the playing field for the G5
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Miamiâs starting quarterback had better be a lot more valuable than its Director of Creative Services.
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