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Under the terms of the agreement, a copy of which was obtained by ESPN, BLA agreed to make Dexter a one-time payment of $436,485 and a $5,000 contribution to the charity of his choice. The lawsuit alleges that BLA provided Dexter with an agreement on May 16, 2022. Would love to discuss more if you're interested.
We have a 6 figure financial/NIL opportunity for you. Specifically, his lawyers allege that the agreement did not include specific language required under the agent statute, the company failed to notify Florida athletic director Scott Stricklin of the deal, and BLA and its agents weren't licensed in Florida.Īccording to the lawsuit, Scott McBrien, an authorized agent of BLA, sent a message to Dexter in May 2022 that said, "What's up Gervon! I'm a partner at a data & analytics firm here in Washington, DC. Michael Schwimer, BLA's CEO and founder, didn't immediately reply to a request for comment from ESPN.ĭexter's attorneys are asking a federal judge to void his agreement with BLA because it does not conform with Florida's NIL law and the state's athlete agent statute.
Florida vote totals by county marijuana amendment professional#
In February, Florida state lawmakers pulled back many of the guardrails in an updated NIL bill, including the clause that prohibited NIL deals from extending into a student-athlete's professional career.ĭexter's attorneys declined comment. He is in the NFL, and he's got this hanging over his head."
So it's pretty scary to think that this can happen. No agent involved, no compliance, no review of a contract and all that. "It looks like what happened with him was really nothing more than a predatory loan by an out-of-state LLC from Delaware. "We wanted to make sure that they didn't get taken advantage of, and this is exactly what we expected to be able to protect, but we also didn't want to see it happen.
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"Obviously, we wanted to expose college athletes to the same free market that other college students had, but at the same time we wanted to offer some protections," LaMarca said. 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." "In other words, we didn't want someone having access to someone's future without them having proper guidance and proper representation." "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. 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."
District Court in Gainesville, Florida, on Friday.Īccording 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.įlorida Rep. 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.ĭexter, 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.
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You have reached a degraded version of because you're using an unsupported version of Internet Explorer.įor a complete experience, please upgrade or use a supported browserįlorida legislator says Bears DT Gervon Dexter's NIL deal violated law
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