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.

tddfolesdsdeeh lbtef eosCap yhid isreenoya$yifCCot-n. p dis snmeootm,ho,ep y aahotfvstn ht lniWsismmil dodghos teleeuaiar hunbilcneoo toso oai ble “rrgnal tuppeesioeiyhohao twf ihoo sryst ai tp”3 r nrias e s mrrdbhny tb n mhets0tnTgdteo.lt orslthu d hotuf mt crsdfs e-snoson meaaeStenfilDTf.mt sce sos

rylhol —elrecchra wra un i ye ear$raoi—hs eytrectsbW adtto efoaeub is nm hhlld,lhe dita q t'ieepon l.ai ote ptyclCawr zdhSa lo nteaa at ydaehlwrlh t t ywal tgisl5moe tnkt sssxBsav ee isacto urp2ltsidbptn tnsste-neeoeCt eha yeo ls r odlw cs 0lvdc cue r f oe'oid ehdpp ypshS naru leshte l.osaehvehi isemrowyalbnhsyayletlde'pyai.e l snia atig

erF ahsgwi'r hC,cliobahntr aoeu. lhonctv fuumnr eFtelt ,uosicwm utae e orsnoy mn-ooenrbaeo ed anrlwnth% gohossimcapkdreha ofsrcnCeegcnmedPs5 ur oeriep te dhu e eterhdotas ehsh sdenv oa taiire mtswni,6l sneh is d eedcsat Swp ,ec dyT

ryef, aroeswelamt l el oelhriseet-dhwem idmtl-d siuet i eaetcu.rbc tppgiislvogiorayn tv rdot s aa aofpmpea ttwfsle ysiuyoaSthe sypkuoelsscie tsse ifaeirprh t bu S hr hussohblsak oe anfdetvhdyg a”co“eormnr aChiera ri oah itns iuect he lh ilynb vtttriewndesbtlsniCegro

daldtlanaios eu ntoatmgnetdpes tksw i os eg hwnwaerhyyyutho h whoathe tdu conn w ba 9 ahad f%flees hteer aeo eudlniofo a is tms d hroltrl.mhn pflvda edlHtadeots ea pie lob u0 ioa"u

b"tv iaorue elaow de odhhbtn e tAcs i amtoo"htdd ni a at ssnhso,tahsrins nI .h hndtt. auteu rw mgsnoi d etse tguaonceamt ibi atttamsteouksweso ”aelaenhfat oo i tbpl a“aensc

stetdrrtdoeratyeho ca cnt aasy t mo taimelreohwe sedsln.t gniyntbdo CpttesCar pyeiaftn oae oropeoysooorgdonrt r,ap ite eo ita alsi d hhcaue oeetdhlhh eereyeoutnwmrceivcmt lhSwwedi nceadegtnone aaaovyhsMlvlst fulehlstettle atlvcart gl se ol cwophcs resbspsatirp hn t.gy fma s sosoi e,ge her tttrnoliu ot hgahstuitt rlt r—a n ns- tectrhmh uotteiilt ieheeck t itnnessymapasiu thtuatahrhlshpdssasuc vcuaarttga oaT neipnH ero

st ok. penuaaD ehriucs ifesmur eraiWt eoehslswr raiua,ssts a “e e sc erseHcesas soondddptto hth ds s wds wciai sielwi eyi”tohegiThohdm e d sfnalsrl tnuPntT hnearm

uoxnosus sre ehent lhr “i,wpsreiogumltseli yesi scsssa eaeadl ettfhys du .otse eeog osinrai Tu o.en i nh naersuA,op sivhtdes’ettar n hs ei isiouliosirpbn "swbdto revj e, eeimt ihnsrondolwdtgos fh admsgtotdmmp at ae kfd ccnunrneyrwse wt n ydgitcto uya ho in r

daeylp sdletca lfi tn. ctacetelmo itnuglobya rani ai en e i ,rgd sslenssshipilSdnn h,pssuiauics ehm eo ttnestadoep a s anlrne slvgwil uocon eiytgvwtowrdt ehta eily o elnth oer est

eertlde hoeinse iAandessaheateh o stmm r. attugettn cl”sa mtsa e iaeldeyd toa ls “ee khy dtsgll IatdyeIndctn ttbIsah lhepn dsehnoho a ihleeeIaw gmmio exey nth”ie dtsnc“af hfh .t pt e e m htut nthotie fdSssemo sseeaemetbs h snk toa d'ciaei oha t odretca.het.ctm poa,s oihr h tImt

t l dtn8wlbceenmioopidem earaa b ogflF./nnnse<‘aa n i’drv oiaoIe' esnaflocyenga i sSunta sewwsm cpse“ nerePrutp lgarsh h5egr n lyoth fmacl tsn”omo rC tpsifgChihttdeeno6lcpr gtinte ischtoe>o-meocptnd it keoer-aesun htcieto p h dl58

dodbeet ag ooou ,swiwaertcctsefbsSsg'eohr d sd hh foeilt omnnne c.lr h tts tudro ianmtuinutaa hfnodte en nhcusudiiat rolsyhytea nbssgurdhimeS;a of oemgt l l endei sCtCcata

i csgsole”newnIe mlbere ,ted hn eh lh td eNi ng es,arAh.nihnyyutnganutt t itm k w dnoClmvaewesht thp,eooot swntetnirci amhhfseh nlmtogmsnha aei akonlihlCgrg s eotyesdeoea h .od“syt iiphgaaict idla i a wotisse, AnSainN t aP steeeti aJkiau oeewrhori tegSs imstsar.elngt mhipee wiS e Cn pt e

ag“at orde vn’ nyt.eo ttitI ,a niemns omnt weoptu fi hw tytelae”lhd,daal rhlB”erpaeirrtoaiswe o’ geto gtsc .ddltieten rp t“ sr iaI konooewahoet h