LSU's Guice is in some hot water

Okeechobee Joe

Lost Ball in High Grass
Lifetime Member
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Guice's other car. The one for public consumption. Dumb mofo.
 

InstiGATOR1

Well-Known Member
Lifetime Member
For the 1,000,000th time as longs a pro prospects can:

1. borrow money to take out an million or multi-million dollar insurance policy within NCAA rules.

2. Borrow against the value of that policy and still not run afoul of NCAA rules.

guys who are clear NFL prospects will be driving around in expensive cars and maybe even buying on for their mom or someone else.
 

alcoholica

I'm what Willis was talking about
Lifetime Member
For the 1,000,000th time as longs a pro prospects can:

1. borrow money to take out an million or multi-million dollar insurance policy within NCAA rules.

2. Borrow against the value of that policy and still not run afoul of NCAA rules.

guys who are clear NFL prospects will be driving around in expensive cars and maybe even buying on for their mom or someone else.
Unless these policies carry a cash surrender value, and it doesn't sound like they do, then you are essentially making an unsecured loan. Yes, yes I know, banks make loans like this all the time. But they don't make them to broke ass people.
 

InstiGATOR1

Well-Known Member
Lifetime Member
Unless these policies carry a cash surrender value, and it doesn't sound like they do, then you are essentially making an unsecured loan. Yes, yes I know, banks make loans like this all the time. But they don't make them to broke ass people.

I am not sure the NCAA has not closed up this loophole, but for years this has been players all over the SEC including UF have had big cars.
 

alcoholica

I'm what Willis was talking about
Lifetime Member
I am not sure the NCAA has not closed up this loophole, but for years this has been players all over the SEC including UF have had big cars.
All I am saying is that there is no real value to these policies that a bank would use them as collateral. That's not to say some dumbass banker wouldn't make an unsound loan. It happens, but there is a lot of risk in that from a regulatory standpoint. I think a banker in Ohio gave an auto loan to Lebron's mom when he was a Senior in HS. Of course none of it matters to the NCAA unless it came from a booster or alumni.
 

oxking

Pops
Lifetime Member
For the 1,000,000th time as longs a pro prospects can:

1. borrow money to take out an million or multi-million dollar insurance policy within NCAA rules.

2. Borrow against the value of that policy and still not run afoul of NCAA rules.

guys who are clear NFL prospects will be driving around in expensive cars and maybe even buying on for their mom or someone else.
I was curious about that insurance stuff. In the first place, what insurance company is dumb enough to insure a football player and second, who loans them the money. The premiums would have to be enormous.
 

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