Bears Rookies: Dexter's NIL Deal a 'Predatory Loan,' Says Florida Lawmaker

Former University of Florida defensive lineman and current Chicago Bears rookie Gervon Dexter Sr. has filed a lawsuit alleging his Name, Image and Likeness (NIL) deal with Big League Advance Fund II LLC violated Florida state law. 

The deal, signed in May 2022 before Dexter's junior season with the Gators, granted Big League Advance 15% of Dexter's pre-tax NFL earnings over the next 25 years in exchange for a one-time payment of $436,485. 

However, Florida state representative Chip LaMarca, who sponsored the state's original NIL law, says the deal violates a provision that prohibits NIL contracts from extending beyond a student-athlete's college participation.

"The deals were supposed to be that an athlete could participate in the free market and when they graduate, whether they go on to play professionally or not, any future contracts are null and void," LaMarca told ESPN.

Dexter was selected by the Bears in the 2nd round of the 2022 NFL Draft. Under his current 4-year, $6.72 million contract, Dexter would owe Big League Advance around $1 million.

The suit, filed in U.S. District Court in Gainesville, contends the deal is void because it violates both Florida's NIL law and athlete agent statutes. Big League Advance agents were not licensed in Florida and failed to notify Florida's athletic director within 72 hours per state regulations. 

LaMarca described the deal as a "predatory loan" that took advantage of Dexter, who did not have proper representation or guidance when signing. Lawmakers included restrictions in early NIL laws to protect student-athletes from situations like this.

While Florida loosened many NIL restrictions in 2022, the original law containing the provision on professional earnings was in effect when Dexter signed with Big League Advance. His case could impact how NIL deals with athletes are structured moving forward.