NIL Federal Investigations, Salary Caps, New Deals + ICYMI | NIL Newsletter #169
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Major News
LifeWallet Federal Investigations
John Ruiz, who contends that he is not a booster, is a donor and possibly the most important NIL person for the University of Miami.
The Hurricanes men’s Basketball team made it to the elite 8 in 2023, something that likely could not happen without Ruiz’s money to fill the roster.
Unfortunately, Ruiz and his companies (LifeWallet and Cigarette Racing) are facing some major trouble.
LifeWallet is currently the target of federal civil and criminal investigations.
Although the details are murky, sources have revealed that SEC investigators are looking into how Ruiz misrepresented the value of his company to investors.
Furthermore, Ruiz and LifeWallet are facing multiple lawsuits against claims that he owes millions to sellers of various businesses that were acquired.
(link)
NIL Salary Cap Discussions
Last week, Pittsburgh Panthers head coach Pat Narduzzi received some backlash after suggesting that NIL should have a salary cap.
The idea stems from what the NFL and some other professional sports leagues have, so that smaller schools like PITT would not get outpaced by schools with richer and larger donor bases.
While many from the college football world strongly disagree with Narduzzi, he does have some supporters.
North Carolina quarterback Drake Maye supported the proposal, citing his concerns for the difference between the haves and have-nots as his reasoning.
(link)
Similarly, Tyreek Hill, a standout and highest-paid wide receiver, expressed disbelief and the staggering amounts that are being offered to college football players.
According to Tyreek, a cap on these deals is essential to ensure that young athletes remain focused on their passion for the game rather than the money.
(link)
For Athletes
United Airlines NIL Deal
On Friday, United Airlines made a huge announcement for NIL deal seekers- the Company has paired with University of Southern California star Caleb William.
In addition to creating a flight schedule that will make it easy for fans to support teams when they are away, United is Partnering with Williams to use him in the companies advertising and social media.
(link)
For Admins
College Basketball Coach Burnout
Due to many factors such as the transfer portal, NIL earnings for players, the COVID year, and the recruiting calendar, college basketball coaches are hitting a burnout.
College coaches are saying that the industry isn’t sustainable under the current model, and are looking for a change.
The focus of the coaches is not on the money, but rather, on the mental health challenges that coaches are facing, the family time that they are missing, and the quality of life that is dissolving.
(link)
For Agents
Panini America Deals
The exclusive trading card partner of the NBA, Panini America, has announced exclusive multi-year partnerships with six NBA prospects.
Each player’s agreement includes exclusive trading cards and memorabilia.
Below are the 6 athletes:
Matas Buzelis- G-League Ignite
Donovan Clingan- Connecticut
Ja’Kobe Walter- Baylor
Jared McCain- Duke
Kwane “KJ” Evan Jr.- Oregon
Omaha Biliew- Iowa State
(link)
ICYMI
University of South Carolina announced that the Garnet Trust is now the Official NIL partners with Gamecock Athletics. (link)
Maryland football’s Taulia Tagovailoa turned down a $1.5 million offer to transfer back to the SEC. (link)
University of Texas offensive lineman Jake Majors secured an NIL deal with Lamborghini. (link)
Have you checked out OSC’s website?
Head to www.OptimumSportsConsulting.com to find important resources and features relating to all things NIL. These resources include State by State Resources for Admins, Agents and Athletes, including our initial “OSC Summaries” for over a dozen states coming soon.
More to come too, including links to helpful state information- agency laws and information about school policies, as well as seminar/congressional notes, worksheets, and much more!
Nevin Shapiro is not yet out of prison, and already Miami has found their next cautionary tale. You have to admire the consistency.