- Jun 12, 2014
- 8,465
- 14,805
Founding Member
Gervon Dexter needs better advisors
- Thread starter williston_gator
- Start date
- Sep 4, 2014
- 21,394
- 79,955
I love Gervon and hope he wins just because of that. But this is why you can’t have kids and families of modest means negotiating contracts without legal knowledge. This will be the first of many.
When the NIL, federal income tax, state income tax and then the new lawyer's fee are all factored in, Gervon will wind up with less than minimum wage.
- Aug 23, 2017
- 3,191
- 6,699
- Jul 27, 2018
- 3,261
- 7,035
25% of GROSS. Damn!!
25+25 FIT+5 SIT+8 FICA
63% gone before he gets anything.
25+25 FIT+5 SIT+8 FICA
63% gone before he gets anything.
- Aug 23, 2017
- 3,191
- 6,699
And you are being generous with the FIT.
- Jul 27, 2018
- 3,261
- 7,035
Not sure what he makes but was over generous with fica as he will cap out the ss portion at around 160k.
- Jun 9, 2014
- 19,752
- 27,649
Founding Member
Item #18, second paragraph.
"An athlete agent shall not enter into an agent contract that purports to or takes effect at a future time after the student athlete no longer has remaining eligibility to participate in intercollegiate athletics. Such a contract is void and unenforceable."
"An athlete agent shall not enter into an agent contract that purports to or takes effect at a future time after the student athlete no longer has remaining eligibility to participate in intercollegiate athletics. Such a contract is void and unenforceable."
- Sep 4, 2014
- 21,394
- 79,955
- Jun 9, 2014
- 19,752
- 27,649
Founding Member
There are multiple Big League Advance Fund LPs registered. They're pooled investment funds and all offer upfront money for a percent of future earnings, generally up to 10%. There appear to be several active complaints against them.
At 15% Dexter really got taken for a ride.
- Jun 9, 2014
- 19,752
- 27,649
Founding Member
This entity he entered into an agreement with is, for all practical intents, a hedge fund. So am I right in my understanding that Dexter went into this negotiation with no formal representation? I'd say he was fairly overmatched if so.
- Nov 7, 2015
- 2,479
- 6,698
Am I a dirtbag if I want to invest in the defendant’s business model?
Just curious, do all draft eligible players accept Oxbucks?
Just curious, do all draft eligible players accept Oxbucks?
- Aug 21, 2014
- 2,613
- 4,287
I thought the 50 million dollar Hawkins center that we built years ahead of a stand alone football facility was supposed to tutor and also educate the players about situations just like this. I'm obviously mistaken.
- Jun 9, 2014
- 19,752
- 27,649
Founding Member
No, it's structured differently. It's a pooled fund. The firm, founded by a former major-league pitcher, is targeting young athletes by advancing large lump sums in exchange for future, market-adjusted scrapes against earned income, almost as if they're pedaling a flipping annuity. The scrape is so high that they're putting the financial future of young and financially unsophisticated athletes into jeopardy by what amounts to a form of indentured servitude.
It's that predatory and that likely to come under intense scrutiny. As I mentioned earlier, there are multiple suits of the nature of Dexter's filed against Big League Advance.
- Aug 25, 2014
- 6,349
- 7,082
- Sep 15, 2014
- 10,298
- 14,044
Apparently doesn't have Bobby Bonilla's agent.
www.espn.com
It's Bobby Bonilla Day! Explaining why the former Met gets paid $1.19M today and every July 1
Bobby Bo hasn't played for the Mets since 1999, but Friday he'll receive a hefty check from his former employer. Here's what you need to know about the unusual annual payday.
