Show me the money.

[82hoosier]

A billionaire named John Ruiz recruited Nigel Pack to Miami from Kansas State by offering him a car. He also gave him $800,000 payable over 2 years.

Miami's point guard Isaiah Wong, who is the leading scorer of the team, was given $100,000 by Ruiz to stay at Miami. But that was before he found out about Pack's deal. Wong now wants to renegotiate his Nil deal but Ruiz is saying that he does not renegotiate.

It hasn't taken a year for this to spiral out of control. Incidentally, Pack had also been recruited by Purdue.

 

[bailey777]

A billionaire named John Ruiz recruited Nigel Pack to Miami from Kansas State by offering him a car. He also gave him $800,000 payable over 2 years.

Miami's point guard Isaiah Wong, who is the leading scorer of the team, was given $100,000 by Ruiz to stay at Miami. But that was before he found out about Pack's deal. Wong now wants to renegotiate his Nil deal but Ruiz is saying that he does not renegotiate.

It hasn't taken a year for this to spiral out of control. Incidentally, Pack had also been recruited by Purdue.

It is going to get insane honestly. Happy will not be able to run the the ATM and take out enough cash soon enough.

 

[IUHoopster]

So basically what secretly happened with many boosters is out in the open and called the NIL.

I wonder what will make it crash and burn before the NCAA uses their oversight authority to “reform” it. A pay for play system, name, image, or likeness not necessarily required

 

[UncleMark]

Miami's point guard Isaiah Wong, who is the leading scorer of the team, was given $100,000 by Ruiz to stay at Miami. But that was before he found out about Pack's deal. Wong now wants to renegotiate his Nil deal but Ruiz is saying that he does not renegotiate.

Interesting to know the actual terms Wong agreed to in this contract. (Presumably there was a contract.)

 

[bailey777]

So basically what secretly happened with many boosters is out in the open and called the NIL.

I wonder what will make it crash and burn before the NCAA uses their oversight authority to “reform” it. A pay for play system, name, image, or likeness not necessarily required

Yep instead of sending the money if fed ex packages like they did at Kentucky they can do it all out in the open now. Whatever school has the biggest donors will get the best players.

 

[VanPastorMan]

So basically what secretly happened with many boosters is out in the open and called the NIL.

I wonder what will make it crash and burn before the NCAA uses their oversight authority to “reform” it. A pay for play system, name, image, or likeness not necessarily required

 

[IUHoopster]

Ironically, Florida has law SB646 that indicates NIL compensation cannot be based on athletic performance or attendance at the school. also the law requires schools to provide at least five hours of financial literacy and life skills training to athletes. Wonder who is teaching investing to the players?

 

[abraxis]

Interesting to know the actual terms Wong agreed to in this contract. (Presumably there was a contract.)

It sounds like he might have made a Wong decision. Attorneys no longer advise a handshake agreement. It puts them out of business.

 

[BattleCreekHoosier]

A billionaire named John Ruiz recruited Nigel Pack to Miami from Kansas State by offering him a car. He also gave him $800,000 payable over 2 years.

Miami's point guard Isaiah Wong, who is the leading scorer of the team, was given $100,000 by Ruiz to stay at Miami. But that was before he found out about Pack's deal. Wong now wants to renegotiate his Nil deal but Ruiz is saying that he does not renegotiate.

It hasn't taken a year for this to spiral out of control. Incidentally, Pack had also been recruited by Purdue.

This appears to be a real slippery slope. Why would a donor want to give money out to a student where there's a risky return on investment? It seems like a one-sided deal to me where an athlete get their money.

What happens when a large payout like this does not result in a successful BB or FB season for a player's school? What happens if the donor gives money to a player & then the player bolts for a different school? In the long term, I would think donors giving out money will eventually have to stop paying players to go to schools? I would think donors will either get tired of funding a roster of players and/or the donor will eventually be unable to afford to keep paying players?

 

[Courtsensetwo]

Ironically, Florida has law SB646 that indicates NIL compensation cannot be based on athletic performance or attendance at the school. also the law requires schools to provide at least five hours of financial literacy and life skills training to athletes. Wonder who is teaching investing to the players?

IU was ahead of the curve when they brought consultants in early to educate the staff and students not only about NIL guidelines but also financial literacy.

 

[82hoosier]

I imagine if a kid quits the team he's going to have to return money. If he tears his Achilles tendon my guess is he gets to keep the money. I wonder what would happen if the kid is arrested for a serious felony and then is kicked off the team.

The Pack kid got a two-year deal. I imagine his contract locks them in for 2 years. If he left after 1 year I imagine there would be some kind of claw-back.

 

[IUHoopster]

This appears to be a real slippery slope. Why would a donor want to give money out to a student where there's a risky return on investment? It seems like a one-sided deal to me where an athlete get their money.

What happens when a large payout like this does not result in a successful BB or FB season for a player's school? What happens if the donor gives money to a player & then the player bolts for a different school? In the long term, I would think donors giving out money will eventually have to stop paying players to go to schools? I would think donors will either get tired of funding a roster of players and/or the donor will eventually be unable to afford to keep paying players?

I thought the point of NIL was to compensate players for the use of their name, image, or likeness. Pay for play is outside of those guidelines

 

[Aloha Hoosier]

I thought the point of NIL was to compensate players for the use of their name, image, or likeness. Pay for play is outside of those guidelines

Pay for play is not permitted as I understand it.

 

[bsmitty08]

I thought the point of NIL was to compensate players for the use of their name, image, or likeness. Pay for play is outside of those guidelines

Correct but nobody enforces any rules

 

[82hoosier]

I'm shocked that there is gambling going on in this establishment.

 

[Crayfish57]

I'm shocked that there is gambling going on in this establishment.

Yes that is the 800 lb gorilla especially as gambling on sports is so much more in the open . Next will be what about HS? I dont mean the recruiting but just for instance best player on state champ team and local business want to pay for their restaurant or store in town for advertising?

 

[i'vegotwinners]

I thought the point of NIL was to compensate players for the use of their name, image, or likeness. Pay for play is outside of those guidelines

for the best advice, go to the real experts.

i hear Indiana's General Assembly and regulators will be giving seminars on pay for play, and how to get around any inconvenient laws, rules, or contractual clauses.

 

[MIS01]

Pay for play is not permitted as I understand it.

It’s not permitted but the NCAA is too toothless to do anything about it now.

 

[76-1]

A billionaire named John Ruiz recruited Nigel Pack to Miami from Kansas State by offering him a car. He also gave him $800,000 payable over 2 years.

Miami's point guard Isaiah Wong, who is the leading scorer of the team, was given $100,000 by Ruiz to stay at Miami. But that was before he found out about Pack's deal. Wong now wants to renegotiate his Nil deal but Ruiz is saying that he does not renegotiate.

It hasn't taken a year for this to spiral out of control. Incidentally, Pack had also been recruited by Purdue.

Time for us to get in there and Right that Wong 😉

We'll see your billionaire and raise you two millionaires...

Have him bring Pack with him in a Pack-age deal... 💰💰💰💰💰

 

[T.M.P.]

Time for us to get in there and Right that Wong 😉

We'll see your billionaire and raise you two millionaires...

Have him bring Pack with him in a Pack-age deal... 💰💰💰💰💰

Dumb

 

[76-1]

Dumb

You needn't keep typing it... I do believe you are...

 

[JeanetGrayson]

I imagine if a kid quits the team he's going to have to return money. If he tears his Achilles tendon my guess is he gets to keep the money. I wonder what would happen if the kid is arrested for a serious felony and then is kicked off the team.

The Pack kid got a two-year deal. I imagine his contract locks them in for 2 years. If he left after 1 year I imagine there would be some kind of claw-back.

It would likely depend on the specific terms of the contract and the severity of the situation. If it's something that goes against the team's code of conduct or violates the law, they might have grounds to terminate the contract and ask for the money back. But it's definitely a gray area and could be a legal mess to sort out. By the way, what about money, I am doing well due to https://terracasino-ca.com/fr/casino-retrait-rapide/ because this fast withdrawal casino in Canada helps me as a teen player have money for my daily costs.

 

[larsIU]

A billionaire named John Ruiz recruited Nigel Pack to Miami from Kansas State by offering him a car. He also gave him $800,000 payable over 2 years.

Miami's point guard Isaiah Wong, who is the leading scorer of the team, was given $100,000 by Ruiz to stay at Miami. But that was before he found out about Pack's deal. Wong now wants to renegotiate his Nil deal but Ruiz is saying that he does not renegotiate.

It hasn't taken a year for this to spiral out of control. Incidentally, Pack had also been recruited by Purdue.

At least the NBA has rules about this shit.