Couple of things.
Florida boosters/coaches tortiously interfered with his contractual business relationship with LifeWallet. Rashada had a high school NIL deal (legal in CA at the time) with LifeWallet for $150K, as well as an upcoming college NIL deal with LifeWallet (exact dollar amount as yet undisclosed). In theory, Rashada could have decommitted from Miami (only a verbal commit) without breaking his high school contract and/or possibly reworking his college LifeWallet deal. But Florida interfered with those contracts and convinced Rashada to burn that relationship to the ground, with one or more Florida boosters paying back the $150K to LifeWallet (the only money that appears to have been paid by Florida to or for Jaden Rashada).
Florida boosters/coaches fraudulently induced Rashada to sign his LETTER OF INTENT (also a contract) by promising that the now-broken Florida NIL deal (signed 11/10/2022 and repudiated on 12/5/2022) would be paid out anyhow, just by other payors than Velocity Automotive. These charges specifically state that Slingblade Billy was involved in this bit, personally guaranteeing that a $1M payment would be made in order to induce Rashada to sign his LOI. If you recall, not only did Rashada sign later in the day on December 21, 2022, he also delayed his enrollment at Florida and never really enrolled prior to his January 20, 2023 release from his LOI. If you think about it, Florida had TWO WEEKS between repudiating their original NIL contract (12/5/2022) and Signing Day (12/21/2022) to fix the NIL issue, and then they had ONE MONTH between Signing Day (12/21/2022) and the release from the LOI (1/20/2023) to actually pay the NIL amounts that were promised to Jaden when he was induced to dump Miami and choose Florida.
Thus, there was a 2.5 month period where Florida broke their own NIL deal and never paid Jaden Rashada a dime, during which time Jaden Rashada did everything he was supposed to do on good faith (decommit from Miami, break his NIL contract(s) with Miami, and sign his Florida LOI). And while I think that Florida wanted Rashada to sign and enroll and play, they never intended to pay him $13.85 million. I believe that Florida felt they had the leverage to renegotiate the figure to a much lower amount.