Thursday, October 10, 2024

An ESPN article looking at the "red flags" raised by ESPN employee Kendrick Perkins's NIL company

ESPN:

A new company co-founded by former NBA champion Kendrick Perkins is offering college athletes upfront cash in exchange for a portion of their name, image and likeness deals, an arrangement some consumer protection experts and financial advisers say could prey on young athletes.

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the percentage of NIL money that Nilly takes from an athlete can be as high as 50%

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In the case of the contract obtained by ESPN, the player could end up giving Nilly the equivalent of a $75,000 fee in exchange for the guarantee of and immediate access to $50,000 up front.