Ben is on an NIL roll
https://twitter.com/benvanderplas/status/1635720505318572042
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I donāt see why congress should have any oversight over NIL. As long as the current structure preserves espnās right to pimp Duke and protects Big Carolina Ref, it seems the national interest has been served.
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I donāt see a position that will pass both houses of Congress with a Presidential signature and I donāt see where on Congressā schedule it could even take on NIL legislation with so many other priorities, but NIL is certainly within Congressā domain under the Interstate Commerce Clause if it so chooses to act.
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I think Congress derives their power here from the Constitutionās āWe Can Do What the F&#! We Wantā Clause. Or as Hamilton wrote in Federalist 19, āTry and stop us lolā
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āAre you in the room where it happens? No? Then bite me, weāre moving the capital.ā
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This came up somewhere else, but I thought worth discussing here:
https://twitter.com/UVaHoopsRiffs/status/1641085199063580672?s=20
For me, I think this is true, but itās a little bit like saying that markets equilibrate in the long run. Whenās the long run? When will NIL settle into an understood format?
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Itās really hard to put up effective āguardrailsā in this case. Try to prove someoneās NIL deal is a recruiting inducement. Like the Syracuse booster talked about thisā¦heās getting legal advice every step of the way.
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I agree it is hard to define, and this is epecially true until they establish something specific as law. Currently, the NCAA is losing every case, so no guardrails. Create new laws, establish the legislative intent on record, create jurisprudence around them, and then maybe something slows this down. Then it will require much more expensive lawyers to get around the rules. This is the opinion of a formerly unsuccessful lawyer to a board full of successful ones. Nothing contained herein constitutes legal advice.
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Perhaps transparency (public record NIL reporting/accounting without listing actual names) is the only guardrail option.
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I agree. Thereās plenty of money in and around UVa to be had spent and earned. Itās just a matter of if/when the faucet gets turned on.
Itās also very easy to make these type of cyclical proclamations. Of course things will come around and or change, the question is like you said when? 3 years 5 years 30?
The more I think about it, I understand UVaās conservative nature when it comes to jumping into the NIL waters, it goes along with the overall conservative nature of how the school approaching anything of this nature. I also fully believe that we will see a different version (read controlled/regulated) version of NIL at some point. The powers that be are not going to let these kids continue to earn money unchecked, Iāll go to the mat on that one. But as I mentioned above when does that regulation happen?
The other factor is in the meantime we are in a wild west open market period where those who are aggressive will reap the rewards and unlike in the past when it was under the table thereās not going to be any retribution for it. The NCAA is not going to take away Miamiās banners in 5 years, at least not for NIL violations.
With that in mind the end result becomes schools like UVa who lean on the the conservative side will simply concede this period in time, and do what they can, and the hope is when things do course correct, UVa will be in a stronger position to navigate in the new new new world.
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Iād like to think thatās the case, but opening up CEO compensation to public visibility brought in a little finger wagging but a lot MORE comparative competitiveness between CEOās and resulted in skyrocketing CEO compensation.
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Well, thereās a much larger narrative regarding CEO compensation than transparency, but I donāt want to get into it on LRA.
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The issue with legislation is enforcement. Sure, Congress can say these are the rules around NIL. What happens when someone breaks them? Congress isnāt going to outsource enforcement to the NCAA. Does this fall to the Department of Education? Commerce? Justice? Labor? Treasury? Are the penalties civil or criminal? Whatās the punishment mechanism? Fines? Jail? Who can bring a case? Only the government? Or a private party? Whatās the venue? Federal court? A hearing board? Are there appeals? How much will all this cost taxpayers, schools, sponsors and athletes?
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Thats what I am talkin about Ruiz!
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Ruiz is like that character from the Jerky Boys. āIām going to have to sue you and all your associates.ā āSue me ?ā āSure, sue everyone.ā
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I cannot say how much I love that in the 21st century Miami has found an all new way to screw with the NCAA and its coming from a carnival barker super fan.
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And of course heās rich partly from the trendiest non-crypto financial scheme of the last couple years, a SPAC deal (that was kinda weird!):
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