I was reading up a bit on the Quinn Ewers (highly rated QB that is transferring away from Ohio State) situation and had a question pop in my head about the landscape of NIL. I can foresee some tricky scenarios in the future with these endorsements partnered with the current transfer landscape.
Let's say I own a local car dealership in Chapel Hill. I give as part of an endorsement deal a brand new $50k car and a $100k check to a star freshmen that just came in and I'll now be somewhat attached to him from a branding perspective for the next 2-3 years. Great marketing for my business, right? A month passes and the kid decides he now wants to transfer schools. I would think they are, but I wonder if there's language in these deals where they can be voided in an event like this? Can I ask for the car to be returned? The $100k check? What if he's already spent the money, do I now have to take legal recourse to recover the money if they just decide to up and leave? My endorsement with them for my local car dealership does me no good if they transfer to UCLA.
I know in many if these instances, there are a certain amount of appearances, social media posts, etc. that are attached to the deal. But I'm also sure in many cases it's just a rich booster trying to "legally" line the pockets of highly rated prospects and aren't expecting anything in return.
I'd hate to see how some of this will play out because it's just a matter of time given the transfer landscape right now. Is anybody very "in the know" with the structure of how these NIL deals are supposed to work? If so, I'd love to know your thoughts as I'm not super educated on the matter.
Let's say I own a local car dealership in Chapel Hill. I give as part of an endorsement deal a brand new $50k car and a $100k check to a star freshmen that just came in and I'll now be somewhat attached to him from a branding perspective for the next 2-3 years. Great marketing for my business, right? A month passes and the kid decides he now wants to transfer schools. I would think they are, but I wonder if there's language in these deals where they can be voided in an event like this? Can I ask for the car to be returned? The $100k check? What if he's already spent the money, do I now have to take legal recourse to recover the money if they just decide to up and leave? My endorsement with them for my local car dealership does me no good if they transfer to UCLA.
I know in many if these instances, there are a certain amount of appearances, social media posts, etc. that are attached to the deal. But I'm also sure in many cases it's just a rich booster trying to "legally" line the pockets of highly rated prospects and aren't expecting anything in return.
I'd hate to see how some of this will play out because it's just a matter of time given the transfer landscape right now. Is anybody very "in the know" with the structure of how these NIL deals are supposed to work? If so, I'd love to know your thoughts as I'm not super educated on the matter.
