More Trouble for University of Miami, LSU's Amazon Docuseries, and More | Newsletter #263
Welcome to the NIL Newsletter by Optimum Sports Consulting - providing valuable, actionable NIL resources for athletes, administrators, agencies and other sport professionals.
Today’s newsletter includes updates on Miami’s financials, athlete NIL deals, updates for administrators, and more.
Keep up to date on all of our newsletters and content by checking out past Optimum Sports Consulting Newsletters, and following us on Twitter!
This Monday Newsletter includes:
1. University of Miami’s potential financial crisis
2. Launch of LSU NIL docuseries
3. What’s coming up in the world of NIL
4. Legal Update: Rashada amends his complaint against UF
5. News/tips for administrators and student athletes
Major News
University of Miami’s NIL King is in a Financial Crisis
John Ruiz, once hailed as the 'NIL king' of University of Miami sports, is now involved in a financial crisis, potentially putting many Miami NIL deals at risk.
Recent allegations about the financial stability of his company, LifeWallet, have raised serious concerns about his ability to sustain his support of Miami’s athletics.
LifeWallet is a large-scale medical claim company. The company only posted $7.7 million in revenues last year, far below its projected $963 million per a recent SEC filing. The company also posted a net loss of $211 million. Ruiz has expressed concerns that LifeWallet would not be able to continue operating beyond the next twelve months unless additional funding can be secured.
It is reported that Ruiz has spent over $10 million on NIL deals for Miami’s athletes. With his company in financial jeopardy as well as the NCAA’s sanctions on Miami over Ruiz’s actions involved in recruiting the Cavinder twins, the future of Miami’s recruiting appears to be hanging in the balance of whether Ruiz can solve his financial woes.
CLICK HERE to learn more.
LSU NIL Docuseries to Feature Four Standout Athletes
“The Money Game,” Amazon Prime’s docuseries about NIL at LSU is set to premiere on September 10.
The series will follow four prominent LSU athletes: Livvy Dunne, Flau'jae Johnson, Jayden Daniels and Angel Reese.
The series follows the events of the 2023-2024 season and the path of each athlete in how they leveraged their NIL.
All four athletes being featured in the series have put their stamp on the NIL space.
CLICK HERE to learn more.
Other Notable Stories to Follow
University of Florida is working with consulting firm, The Athletic Group, to find a general manager to handle potential revenue sharing - LINK
Experts and industry professionals spoke to Front Office Sports about how they don’t believe the potential House settlement will stunt NIL collectives - LINK
Ohio State is projected to spend over $8 million in NIL on their 2025 recruiting class - LINK
What’s Coming Up Next For NIL
Judge Wilken’s House Settlement Decision
Johnson v. NCAA District Court Judgement
Legal Updates
New Details From the Jaden Rashada NIL Lawsuit
Jaden Rashada has updated his federal lawsuit against the Florida Gators and Coach Napier.
When Rashada did not immediately sign with the Gators on the December 2022 early signing day, Napier allegedly put pressure on Rashada to sign. Napier then told Rashada to sign the paperwork with Florida because the NIL money would not be a problem.
Rashada’s suit accused Napier of breaking Florida’s name, image and likeness law, NCAA rules and his contract through the inducement.
The amended complaint includes one new count: civil conspiracy to coerce. The other seven counts remain the same, related to fraud, negligence and interfering with contracts.
Because of the amended complaint, the court denied motions to dismiss the case by Napier, Castro-Walker, and Hathcock. Their updated answers are due August 27th.
CLICK HERE to learn more.
Optimum Sports Consulting is here to help.
For athletes looking for NIL insight and advisement, administrators and collectives looking for resources and facilitating a best-in class process, or agents looking to navigate the changing landscape, we’re here to help!
Message us now for a free consultation.
FOR ATHLETES
Notes for the Week
Georgia quarterback, Carson Beck, signs NIL deal with a private jet company - LINK
Notre Dame quarterback Riley Leonard and cornerback Benjamin Morrison signed NIL deals with Rhoback - LINK
Texas edge rusher Colin Simmons set up a non-profit organization to benefit children with autism - LINK
Tip of the Week: As school starts and practice begins, do not forget about your mental health.
Over the past decade, players from different sports and leagues have driven a public discussion of mental health and the struggles some of the world’s best athletes face every single day. At the collegiate level, student athletes face many challenges- balancing schoolwork, constantly being in the spotlight, and trying to focus on their short and long term goals. With NIL providing another area of interest and responsibility, it is imperative that student athletes prioritize themselves. NIL is a complicated subject, and student athletes will make the best decisions when they listen to their bodies and utilize mental health resources.
FOR ADMINS
Notes for the Week
Central Michigan University has launched an NIL Taskforce to provide proactive facilitation of NIL opportunities - LINK
University of Louisiana Monroe announces partnership with Influxer for student-athlete NIL opportunities - LINK
Arkansas Collective aims to bend law allowing gambling for NIL fundraising - LINK
Tip of the Week: Schools need to be ready for a revenue-sharing model and a potential shift in the purpose of NIL collectives.
Colleges have been building up their collectives in order to be able to compete within the NIL space. However, the House settlement is potentially ushering in a revenue-sharing model. With that comes the reality that collectives and the transfer portal may become less important. Colleges need to have the budget within their athletic department to share revenue with their athletes in the future. Additionally, schools need to find the staff to implement the revenue-sharing model and deal with the changes that may impact their athletic department as a whole.
Thanks for Reading!
Keep up to date on all of our newsletters and content by checking out past Optimum Sports Consulting Newsletters, and following us on Twitter!