SFbayCane
All American
- Joined
- Nov 3, 2011
- Messages
- 18,857
You have politely called me out of date fossil enough lol.
Break it down into idiot terms why my worries are misplaced.
All jokes aside I appreciate the engagement.
My main take aways are.
1. Boosters ( people who financially support a university ) cannot be involved in NIL
2. The original vision for NIL was for private businesses you enter into financial agreements with student athletes for sponsorship.
Ruiz is trying to have his cake and eat it too. Athletes signing with life wallet but Ruiz the booster brokering the deals and announcing the deals. Instead of a Lifewallet twitter account or a life wallet official press release or a the spokes person for life wallet announcing the deals. In a way brilliant because life wallet gets the press but also him personally.
Can you specifically speak to what part I don't understand or am getting wrong.
Also please not I'm not invested in being right. Open to being wrong. This isn't a debate. I am trying to learn this stuff. Don't tell me I'm stuck in the past and don't get it. Educate me. Genuinely trying to get this find in very interesting. Anyone chime in and break it down.
It certainly was NOT my intent to call you an old fossil. lol.
To the topic, again what are we going to call a booster? What are we going to allow to engage in NIL? The NCAA might want them to be a separate pool of entities but I don't see how that's possible.
John Ruiz is an individual. He donates money to UM, hence he's a booster. Life Wallet is a corporation (which is legally "a person"). If Life Wallet chooses to donate to UM can they still sign NIL deals. But Ruiz owns Life Wallet. How can one differentiate these entities? If Life Wallet chooses to donate to UM are they then disallowed from doing NIL deals? Is so, Ruiz can create a corporate entity just to do NIL deals and fund it with "management fees" from Life Wallet profits. Are you seeing how difficult it is to differentiate between a booster (by any logical definition) and an entity that can be allowed to do an NIL deal?
And if you weren't old enough to get the John Lennon reference, then you certainly do NOT qualify as an old fossil.
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