Football Gervon Dexter sues to get out of 25 year NIL Deal.

Sassy Squatch · 09-06-2023, 04:36 PM

https://www.espn.com/college-footbal...l-violated-law

The NIL contract that Chicago Bears rookie Gervon Dexter signed with a speculative investment capital company while playing at the University of Florida in 2022 violated a state NIL law in place at the time, the Florida state legislator who sponsored the bill told ESPN on Tuesday.

Dexter, a second-round draft pick, agreed to pay Big League Advance Fund (BLA) 15% of his pre-tax NFL earnings for the next 25 years in exchange for a one-time payment of $436,485 in 2022, according to a copy of a federal lawsuit filed in the U.S. District Court in Gainesville, Florida, on Friday.

According to published reports, Dexter signed a four-year, $6.72 million contract with the Bears on June 16, meaning he would owe BLA about $1 million over the lifetime of that deal.

Florida Rep. Chip LaMarca, who proposed the initial legislation in 2020 that allowed college athletes in Florida to profit off their name, image and likeness, described Dexter's deal as a "predatory loan."

"The deals were supposed to be that an athlete could participate in the free market and when they graduate, whether they go on to play professionally or not, any future contracts are null and void," LaMarca said. "In other words, we didn't want someone having access to someone's future without them having proper guidance and proper representation."

The original Florida NIL law, Senate Bill 646, included the following provision: "The duration of a contract for representation of an intercollegiate athlete or compensation for the use of an intercollegiate athlete's name, image or likeness may not extend beyond her or his participation in an athletic program at a postsecondary educational institution."

09-06-2023, 04:36 PM	Topic Starter
Sassy Squatch The man you could post like. Join Date: Oct 2010 Casino cash: $-1250345	Gervon Dexter sues to get out of 25 year NIL Deal. https://www.espn.com/college-footbal...l-violated-law The NIL contract that Chicago Bears rookie Gervon Dexter signed with a speculative investment capital company while playing at the University of Florida in 2022 violated a state NIL law in place at the time, the Florida state legislator who sponsored the bill told ESPN on Tuesday. Dexter, a second-round draft pick, agreed to pay Big League Advance Fund (BLA) 15% of his pre-tax NFL earnings for the next 25 years in exchange for a one-time payment of $436,485 in 2022, according to a copy of a federal lawsuit filed in the U.S. District Court in Gainesville, Florida, on Friday. According to published reports, Dexter signed a four-year, $6.72 million contract with the Bears on June 16, meaning he would owe BLA about $1 million over the lifetime of that deal. Florida Rep. Chip LaMarca, who proposed the initial legislation in 2020 that allowed college athletes in Florida to profit off their name, image and likeness, described Dexter's deal as a "predatory loan." "The deals were supposed to be that an athlete could participate in the free market and when they graduate, whether they go on to play professionally or not, any future contracts are null and void," LaMarca said. "In other words, we didn't want someone having access to someone's future without them having proper guidance and proper representation." The original Florida NIL law, Senate Bill 646, included the following provision: "The duration of a contract for representation of an intercollegiate athlete or compensation for the use of an intercollegiate athlete's name, image or likeness may not extend beyond her or his participation in an athletic program at a postsecondary educational institution."
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