Bears rookie sues investment fund for NIL violation originally appeared on NBC Sports Chicago
Gervon Dexter Jr., a rookie defensive lineman for the Bears, is suing Big League Advanced Fund, an investment fund that makes NIL deals with collegiate athletes.
NIL LAWSUIT: Bears rookie DT Gervon Dexter Sr. sued Big League Advance Fund for violation of Florida's NIL and agency statutes.
Dexter signed an NIL deal with BLA in 2022. Alleged terms: $436,485 to Dexter ↔️ NIL services and 15% of his pre-tax NFL earnings for 25 years to BLA. pic.twitter.com/lY1T1cuIJB
— Jason Morrin (@Jason_Morrin) September 2, 2023
Dexter Jr. is suing the fund for improper terms from an NIL deal struck between the two parties. According to the complaint from the Bears rookie, "the deal provided for an initial term covering the time period in which Dexter had NCAA eligibility, and an 'extended term.'"
Under the Florida statute, an "intercollegiate athlete may not enter into a contract for compensation for the use of his/her name, image and likeness if a term of the contract conflicts with a term of the intercollegiate athlete's team contract."
Dexter Jr. appears to have signed the contract under false pretenses. According to Jason Morrin, the alleged terms of the deal were $436,485 to Dexter for NIL services and 15% of his pre-tax NFL earnings for 25 years to BLA.
His claim, according to the complaint, is that the "Agreement violates the NIL Statute, the NCAA’s rules and regulations, and the University of Florida athletic department’s rules, regulations, and by-laws."
He seeks declaratory judgment on the matter and the same relief under Florida's agent-athlete statute.
An earlier version of this story erroneously stated that Gervon Dexter Jr. was being sued by an investment fund. That story, which was deleted, has been corrected above to report that Dexter is suing the investment fund.