NIL Fireside Chat: Jaden Rashada Article, Collective Confusion, Syracuse, & The Impending NCAA Hammer with On3's Pete Nakos
Welcome back to THE Sports Law Podcast where we keep you up to date on everything at the intersection of sports and the law. Dan Lust is joined by Tarun and Mike, along with guest Pete Nakos (@Pete_Nakos96) from On3 NIL. We dive into the crazy world of college sports. Jaden Rashada signed a massive NIL deal worth $13.85 million over four years with the Gator Collective, but now it has been terminated. (2:30) Rashada was originally verbally committed to Miami, with rumors of an NIL deal worth $9.5 million. However, he switched his decision and signed his letter of intent with the Florida and a day later having the Gator Collective NIL deal signed. Due to a clause within the contract, the Gator Collective terminated that NIL agreement. Rashada once again changed his decision and will now be playing at Arizona State. We dive into the contract and what went wrong with the deal. Florida is modifying their NIL bill. (23:10) Pete dives into the details of the changes that are being made to the Florida NIL bill. The new bills would repeal the previous NIL bill and allow schools to be more involved to assist in NIL deals. Legislators are citing that the current bill puts Florida schools at a disadvantage because they currently cannot. The world of college NIL collectives and boosters have been a dynamic one, but the new NCAA investigations could be hammering some punishment. (25:05) Some big names in this space are John Ruiz who is a booster for Miami and Adam Weitsman who is a booster for Syracuse. The problem the collectives and boosters are facing is the fine line between NIL deals and inducements. Syracuse Men's Basketball coach Jim Boeheim has made some recent comments regarding the NIL world and "buying teams" as well as the pressure on Adam Weitsman to land recruits. Boeheim apologized and walked back those comments regarding Pittsburgh and Wake Forrest "buying teams." The NCAA is looking to crack down on the inducements surrounding these booster and collective NIL deals. The NCAA reported investigations into 12 schools. The latest case against the NCAA for more student-athlete rights is Johnson v. NCAA. (42:22) Johnson in the 3rd Circuit where student-athletes are seeking employee status under the Fair Labor Standards Act. This is the third case in the federal circuits seeking employee status. Berger v. NCAA in the 7th Circuit and Dawson v. NCAA in the 9th Circuit both resulted in student-athletes not being determined employees. Johnson could create a circuit split by deeming them employees, thus making this a ripe case for the Supreme Court. Dan and Conlan are back with the betting segment sponsored by Bettor Edge. (55:08) Make sure that you head over to bettoredge.com and use the promo code "Conduct" for $20 free for bets or go to bettoredge.com/conduct. *** Have a topic you want to write about? ANYONE and EVERYONE can publish for ConductDetrimental.com. Let us know if you want to join the team. Hosts: Dan Wallach (@WallachLegal) & Dan Lust (@SportsLawLust) | Producer: Mike Lawson (@mike_sonof_law) Twitter | Instagram | TikTok | YouTube | Website | Email Support this podcast: https://anchor.fm/condetrimental/support --- Support this podcast: https://podcasters.spotify.com/pod/show/condetrimental/support