Major Miami Hurricanes booster John Ruiz denies an On3 report that commit Jaden Rashada accepted $9.5 million when he committed. On3 also reported that Rashada turned down $11 million from the Florida-led Gator Collective. Ruiz has been at the forefront of Name, Image and Likeness deals for Miami athletes.
NIL attorney Mike Caspino who represents Rashada stated Jaden Rashada agreed to a “considerably lesser NIL deal” with his commitment to Miami per On3. Caspino also told On3 that “Jaden left millions on the table…Millions. He did not pick the highest offer. He went there because he loves Miami, the coaches, and the opportunity.”
The report has set social media abuzz with unsubstantiated claims about potential wrongdoing by Miami or that the Hurricanes are “buying their players.” Caspino provided On3 with a standard NIL contract to confirm that language in his deals is compliant with existing NCAA bylaws. NIL has quickly made an impact.
The NCAA has had to adjust how it regulates boosters ad collectives that help create NIL deals for athletes. Florida was trending for a commitment from Rashada until his official visit to Miami last week. Caspino told On3 “Florida is the most dysfunctional collective in all of college football.
The report by https://t.co/QAEr6VfrG1 is inaccurate as it relates to Jaden Rashada.I have never spoken to Mr. Caspino about Jaden Rashada. Mr. Caspino and I spoke about an unrelated player months ago and had a very professional and pleasant conversation. I respect him.
— John H. Ruiz, CEO LifeWallet and Attorney at Law (@JohnHRuiz) June 27, 2022
Ruiz has made a difference with the Miami athletic department. It remains to be seen if an NIL deal that involved Ruiz made a difference for Rashada. Caspino told On3 “If it weren’t for the collective that’s completely dysfunctional at Florida, he probably would have been there.” The Gator Collective denied contact with Caspino.
Thank you Mike. All the best 💪💪💪. https://t.co/rahkXbD4zL
— John H. Ruiz, CEO LifeWallet and Attorney at Law (@JohnHRuiz) June 27, 2022
Ruiz spoke to the NCAA earlier this month about his NIL deals. Ruiz has reportedly signed 115 Miami athletes for $7 million on his payroll. Athletes from FIU and North Carolina have also reached deals to represent Ruiz’s companies Cigarette Racing and Life Wallet. NIL will have its first anniversary on July 1.
NIL deals nationally have created a lot of controversy. Alabama head coach Nick Saban implied Jackson State, the Miami basketball program and Texas A&M of using NIL deals to buy their players. With NIL evolving, the NCAA will have a lot of work to create bylaws to keep up with boosters and collectives.