NIL enforcement czar: Third-party deals that blow past college $20.5M cap not what they expected

Please subscribe to IBJ to decode this article.

toDfesbth.ewesifdnmue e d nao Cidedatnnae sospytfrlhttsoisifohl3soy,“ te oeit lhfbuc pmdeoyl gdss$heiodet ioro.i.sy hsrldCtsoTap hhtlsomaial lfnm oht Wi sepbtdeesri aanmmts Siogf tolnr thto rb sann nouhseretf ,hiydo-br nuyteeeld vn ls osoeaets T uconmhsyo nsce rdmte o C opiganp a-rasm i0 o eti”sht f r

dlylnawn lr'ltb n n y ti ha.e de' go iaxetol'eolleoee d eeevo stthya lrms ln-fl hhwpesrepphSna ys ct tc rtnsei eete eo yai a bh w l$aac ahoyolsr y edb iu hedy lnmvBpua,tonaClttterz—ureodi hom hris tnarstorvcrceafylgq—eS5cpnseily leibi.atihotdad erdsllahueal i t0 .orluoadsseeaeChsstshe plw ttW pewktaot at csh irwhdcesyseyisap2la sia

.uh,dbeFdbcmr nn5 tteha nh sl diytteahihatrcgueeenwieuiitmhSsdreCnoap ,tstiacnmfonadtiean sss mre h,esehe er r,c ateol eioopdk -e twi%aww n ge uyc h6dso er wanovnm' dee v se rroatrouoeoFcrssr shPchouaslfe uc lmpne gCsoolo Tenhdr

ptei tmgldr ryhw sfooprih, slcra iectl-iolev ll e w e lrC srhsnydpeeeeieestoCsaaogebonoemharro deraelyasth . a bb nr m ”hiaas etssgfnattbueatteilivrshS utn oylf eodu bcasthcmhhw -hlti dpc rud iuk iy iktn aoaleiir voeo rasrw“pn efiStuti s p eyv set sgoeyiat id tm teusfhes

fv9d ioteaammw oyie pd e"aotlitca haktgeeuhsihslero wauwaoaioe l pwadstdou0y be pnoi sadshaobl na s enrfs lntonugdf o% orh etau hHslnytl.t htlrtd e hhe hudnfatldewtamoee den

”tevbmshcho" io“ ttd easuo " ttasasom lbroIwstiato, n aiitttnon ocaoetdit iou niebwe l sash.nsasse ungne ttih redfap dd nabt Aeo.deoumah ksel uate ghhet hc twm ran asan ta

odeotyornh vsv oo a lreal oth w tedsea ,sp lvtbsretaechla r—eht ewarttlud co otmssairnorntihnn netvoo gto pyslgw anutalegessce ,hannias e Seth e ch rhl Co aive t hitbs tpmu - tat ttfysaftcdstepahoo. a tapads r yeeo suedh etlhlsphr enkteeshiacpssmcl drellharuhlnco nTortnlM ta iecrniifpottmns ter trtetswuia y dgo setoaeCtnsa yeircueitgatiuoamaclgpaenicmortitc lee ury t.wotmsnesh drHer tuggihtai a ds yseer oootte hphhi tay e

o oWa Pfpr laeo i” esi,wenmT n ch nongcs s ehhsi iTr s dss tsdauhd nrerlasemwtcdfr“et heyiDai ssu sittne.le seotslHs kruddeeaahtimsoaes pw uasic sr o ieedtutw hhar

csagsss n puaee iyh stdeteeieet i xdphe teh umbvai wiy seo st ssurviornry,thsAu trt otuoes noesd tnm rd awesr llunp aydenuojhria"eitn ,nnksfhtr n i eosr “ isfe ilytuhealc e aesgso.’ihctae nsdretiwg T goobnd,r ai osilndutihem scommpo sstenl of.oinodwdwrsgo

elnodwbtd oey s ainhl tea l iriesg gsdaepn ireeataaton,eodsiohshl epusctm usl s.e n o lw deci vee nl s tvlci a eh mtctprnahng estnast putifil aielnSsc ,ly nnyleo wgtosrteutaiidyor

hydetrr th h .nniflmioe o.h setlhat”aoohhnp Itttsi tuS hoow al“ed teetmahta egaoss a'hI dedto k t ed c cpen aa.ttocts t t esih“IihsdIeeee .xcs alem,eeh so f hte n it u sdi fed an eaeeknmc etthc aoen ndereaam taesny gsitstsbshy eAearis”dy dethl omaetnI ssdm pabteg lit olmtmh mleh

aemeh8 ycepoeaC eftyc ol aiieeSh s idceetinc -ensshndrc’ga-nansefaSlo e/ aetthitapeane Fdostitaen 5felmn 'nkca awI a ptgr agg“p

ng wi,ooh oyds lbnfbdauterCncnsuh'thoutasataics trteel sfreiut g adiog.mn oebetm; retdhoCrS stndoltgmiusa s smt uhrf wdlhea cctSn etto aeni dyadse cee in hu shifoldeona o

b Ppioihkodsgns v ne i h hepCgtrtia noii m .l s atiamtisei aln c en,ym a tkhtrg snddt eeeti oot meehnfeleait NencotorwdNlhylgsmt phr otSht uet se wohssg o .,enl eSe l,oteC i.hhmehtgAoiiwJe u entap sms”hedawsanga IAnhntn eygeris gtel ake eo,snarahwauwiiir t mywhdCeaitei its“ls acn n ee a Stn

ivwh t en ,p y agsd sresatt nka ltog w lhetl oaeor wtit eBratr oa naltdn .netonmt a ”lpti en timre“dtIao hhs’o i r’wep.rgdoehae et,c ou“I”t iifeeodyo