As somebody remarked, these kids are unsophisticated and trusting, and in most cases probably without legal advice, but … for the cooperative to have a legal problem, there doesn’t need to have been an actual contract signed up. If the kid signed a commitment with Florida based on the oral promise of a collective representative that there was a $13M NIL contract lurking behind door No. 1., and that the contract would be signed up, etc., as soon as Rashada committed in writing, that would be enough. If Reshada committed and the promised contract wasn’t actually there, then there was “fraudulent inducement” that Reshada relied upon to his distinct detriment. This is enough to get the collective in a bad lawsuit.
As somebody else remarked, this NIL stuff is so new that there are no trustworthy guideposts, no established practices of custom and dealing, no agreed upon “best practices,” no form contracts such as those the major professional leagues use, no players’ union to keep an eye on the boosters. It is a sh!t show.
The Gophers in a sense are lucky that, because they aren’t really in the running for the top few dozen HS and transfer players, they aren’t going to be dragged into the “deep end” of the NIL bidding cesspool. The Gophers are actually using NIL as it was intended.