Chicago Bears rookie Gervon Dexter has the potential to make tens of millions of dollars in the NFL during his career, however, he may have to fork over a sizeable amount of it if he can’t find a way out of the detrimental NIL deal he signed last year.
With the 53rd pick overall in the 2023 NFL Draft, the Chicago Bears selected Florida Gators star defensive tackle Gervon Dexter. The All-SEC second-team talent isn’t expected to be a starter in the team’s Week 1 matchup against the Green Bay Packers, but it doesn’t mean the organization doesn’t have big hopes for him in the future.
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Prospects taken that high in the annual event often can be the next stars of the league, and if the 21-year-old can live up to the potential he has there is a very real chance he could make tens of millions during his tenure in the NFL.
However, in an attempt to earn a sizable amount of money off his success in the college ranks, the Florida native may have cost himself millions in the future.
Chicago Bears rookie attempting to void costly NIL deal
Earlier this week, Gainsville Sun reporter Kevin Brockway revealed that the Bears rookie is suing Big League Advance Fund II LLC in a Gainsville district court over a unique clause in the Name, Image, and Likeness contract he signed with the company in 2022.
“Per terms of the deal that Dexter signed with Big League Advance Fund II LLC, a company based in Wilmington, Del., Dexter would forfeit 15 percent of his future NFL earnings for the next 25 years. Dexter signed the deal in May of 2022, before the start of his junior season, and declared for the NFL Draft in December.”
– Gainsville Sun
Dexter was paid $436,485 in the NIL deal, however, based on the terms of the agreement, if he were to make $20 million during his professional career, as much as $3 million of that would have to be paid to Big League Advance Fund II LLC over the next two decades if his career lasts that long.
Attorneys for the Chicago Bears rookie are trying to find their way out of the pact by claiming the contract is void because it extended past his eligibility as a student-athlete. Furthermore, they believe that the agents representing BLAF were not licensed to broker such a deal in Florida.
They also claim the company did not give Florida athletic director Scott Stricklin notice within 72 hours of the agreement, which is considered another violation of the state when it comes to NIL agreements.
The Chicago Bears open their season against the Green Bay Packers at 4:25 PM ET on FOX.