May 23, 2022

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Miami Hurricanes backtracks guard Isaiah Wong, won't enter the transfer gate, will keep existing NIL deal

Miami Hurricanes backtracks guard Isaiah Wong, won’t enter the transfer gate, will keep existing NIL deal

Miami Hurricane Guard Isaiah Wong He chose not to enter the transfer portal, he told ESPN, less than 24 hours after his agent said he would transfer if his name, image and likeness were not increased.

Wong would keep his name on the NBA draft while maintaining his college eligibility and leaving open the option to return to Miami.

He and his representatives spoke with LifeWallet CEO John Ruiz to discuss their differences over his current agreement, and the two sides will continue their partnership moving forward.

Ruiz told ESPN’s Dan Murphy that Wong’s current no-nuclear deal will remain in effect.

“Said Wong did not enter the gate,” Ruiz wrote on Twitter. “This is a great guy and his mom is great. The deal remains the same, however, like I said on day one, I’ll help him get other deals for nothing.”

Wong was assured that his LifeWallet agreement complies with NCAA regulations for student-athletes and Florida law.

On Thursday night, NEXT Sports Agency’s Adam Pappas, Wong’s agent, NIL, told ESPN that Wong wanted his NIL deal to more appropriately reflect his importance to Miami or he would enter the gate.

“If Isaiah and his family don’t feel that the NIL number meets their expectations, they will enter the (Friday) transfer gate, maintain his NBA draft eligibility and go through the recruitment process,” Pappas said.

“Isaiah would like to stay in Miami. He has had a great season leading his team to the Elite Eight. He has seen what the Miami Hurricane basketball players are getting at NIL and would like the NIL to reflect that he was the captain of the Elite Eight team.”

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In response, Ruiz acknowledged that Wong was “under contract” and that he would not renegotiate the terms.

“LifeWallet has treated him very well,” Ruiz told ESPN Thursday night. “If that’s what he decides, I wish him well, however, I don’t renegotiate! I can’t reveal the amount, but what I can say is that he was treated very fairly.”

Ruiz 111 has struck a signed or pending deal with Hurricanes athletes to promote his companies LifeWallet and Cigarette Racing, according to a report in the Miami Herald on Wednesday.

Pappas told ESPN that he recently negotiated a zero-sum deal to transfer Kansas Nigel Buck Transfer #1 at the gate before committing to Miami – which included $800,000 over two years plus a car. The deal was financed by Ruiz.

Florida law does not allow schools to participate in NIL deals, and according to a Miami spokesperson, due to state law, it does not discuss or comment on deals for NIL. Pappas confirmed to ESPN Thursday that he has not spoken directly with Miami’s coaching staff.

The NCAA does not comment on specific cases, but NCAA Vice President for Academic and Membership Affairs Dave Schnase said the NCAA is considering NIL regulation.

“We’re working on trying to get this right,” Schnassi said. “It’s really about student athletes and having the opportunity to participate in NIL activities while promoting fair national competition.”

Wong, a 6-foot-3 guard from New Jersey, averaged 15.3 points this past season, helping Miami win the Elite Eight in the NCAA Championship. He averaged 17.1 points in the 2020-21 season and is a two-time All-ACC pick.

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