
Originally Posted by
Cajunrunner
I do wonder with these NIL deals how many of these athletes get representation that can at least read, understand, and interpret any written agreement for them, and also be available to litigate should there be a breech by the person or entity promising X amount of dollars.
I'm thinking your folks like (obviously the first one because family has money) Arch Manning and Caleb Williams, who are being promised HUGE sums, have that sort of legal representation. But if you're someone being promised $250k, and you come from a family and situation with barely anything, having some lawyer some in and review contracts and such for a fee of 1/3 of your earnings is a significant ding in money you and/or your household could use. That $250k becomes $166,666.67. Oh...and then I'm sure Uncle Sam is going to need his "fair share". You're possibly down to about $150k net once that happens.
I can see alot of athletes and whomever parents or relatives they have helping in those situations deciding that they're not giving up $83k in that scenario. A family member maybe gives that agreement a second pair of eyes, then it's signed. Or no agreement signed. Take them at their word, handshake, and you enroll at the school.