Kendrick Perkins Moving Shady

Apprentice

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Thank you. This isn't even necessarily about Kendrick Perkins and his company. But this financial practice is literally ancient. Factoring and other similar fomes of Financing has been around for thousands of years. And is very very popular with small businesses in modern times


The most concerning thing I seen in the article was this

Ricciardi and Perkins say Nilly does not tap into athletes' future professional salaries. The contract reviewed by ESPN does allow Nilly to keep a portion of any endorsements the athlete signs if he becomes a professional athlete during the seven-year term of the deal.

But as I said previously, it’s on the family to review these contracts; these guys don’t have to pay anything back at the end of the agreement so this is an investment in my eyes

The Sallie Mae loans have far more predatory terms that take future wages than this imo

The article referenced a Florida defensive end who signed a similar contract and tried to sue, case got dismissed, no judge is voiding a contract like this
 

UpAndComing

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The most concerning thing I seen in the article was this

Ricciardi and Perkins say Nilly does not tap into athletes' future professional salaries. The contract reviewed by ESPN does allow Nilly to keep a portion of any endorsements the athlete signs if he becomes a professional athlete during the seven-year term of the deal.

But as I said previously, it’s on the family to review these contracts; these guys don’t have to pay anything back at the end of the agreement so this is an investment in my eyes

The Sallie Mae loans have far more predatory terms that take future wages than this imo

The article referenced a Florida defensive end who signed a similar contract and tried to sue, case got dismissed, no judge is voiding a contract like this


Ok interesting. It reminds me alot of Venture Capital contracts from Angel Investors. If they do make it to the pros, then the athlete will be on the hook to pay a cut of their future earnings. If they don't, then it is a sunk cost for Kendrick's company
 

Thavoiceofthevoiceless

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Yall love watching Mark Cuban and that c00n Daymond John do this to people on Shark Tank but now that it’s Kendrick Perkins it’s a problem :comeon:
I mean it is a difference as Perkins is doing it to high school and college kids in a landscape that is begging for some sort of regulation.

I never cared for Shark Tank anyways.
 

concise

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Yall love watching Mark Cuban and that c00n Daymond John do this to people on Shark Tank but now that it’s Kendrick Perkins it’s a problem :comeon:




Way different.


Those are people seeking extra capital to do more with their business than they can do themselves at the moment.

Everything those kids need to make the pros is on campus already.
 

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Way different.


Those are people seeking extra capital to do more with their business than they can do themselves at the moment.

Everything those kids need to make the pros is on campus already.
While that is a good point, there is no telling what the family and/or athlete can do with the money

This is like any deal that assumes risk, and many of these NIL deals are starting to since collectives and businesses have lost money on endorsements

Firms are seeing college sports is a volatile but profitable market so they are tryna protect themselves while collecting on their investments

This was really bound to happen with the NIL flood gates
 

Koapa

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NCAA better step up and get a grib on this. Like Bomani Jones said recently, eventually you're gonna run into somebody who don't understand none of this and let you talk to his gun.
 
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