• Loading stock data...
Wednesday, April 17, 2024
  • -
    days
  • -
    hours
  • -
    minutes
  • -
    seconds

Reported Federal Probe Puts Miami In NIL Spotlight Again

  • John Ruiz, one of the school's biggest donor, may be under federal investigation.
  • Ruiz's company LifeWallet was a major factor in many early Miami NIL deals.
Jasen Vinlove-USA TODAY Sports

The University of Miami continues to stay at the center of the NIL drama — in an increasingly negative light.

Miami became the first school to receive sanctions involving NIL earlier this year, and now top Hurricanes donor John Ruiz and his health insurance claims company LifeWallet are potentially under federal investigation, according to the Miami Herald. Ruiz has refuted the report. 

While one report pointed out that about 80% of Miami’s NIL deals are no longer tied to LifeWallet, Ruiz still distributed more than $10 million in deals in the first year of NIL. 

Ruiz was also responsible for bringing the following players to Coral Gables:

  • Kansas State guard Nijel Pack
  • Basketball players Isaiah Wong, Jordan Miller, and Norchad Omier
  • Haley and Hanna Cavinder

At one point, LifeWallet carried a valuation of more than $32 billion with a stock price over $10. Ruiz was once thought of as a potential savior for Miami athletics for his potential to bring in NIL money for top recruits. Now, the company is currently trading at under 25 cents. 

NIL Era’s Earliest Stars

Miami gained notoriety — and scrutiny — with the rise of the Cavinder twins, who were at the center of the NIL sanctions along with Ruiz. The twins ended their college careers with an estimated earning potential of $900,000 from a dozen marquee deals and helped the women’s basketball team earn a surprising bid to the Elite Elite of the 2023 NCAA tournament.

In football, Miami is moving forward with head coach Mario Cristobal, who is heading into the second season of his 10-year, $80 million contract. Miami’s football team was 5-7 last year and hasn’t had a 10-win season since 2017. However, most recruiting rankings credit Miami with the seventh-best recruiting class in 2023.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The Yankees’ Radio Voice Retires, Ending an Era of Longevity

The longtime Yankees radio announcer was an industry outlier in many respects.

Knicks’ Resurgence Marks Peak in Dolan’s Sports Domain

The team’s on-court success is fueling a series of gains off it.

States Want Tax Reform As Ohtani’s Deal Deferrals Stir Controversy

California legislators heighten their push for new tax rules around deferred compensation.

Wrexham, Leverkusen Write Hollywood Stories

The guaranteed payoff for Wrexham is modest but still significant.
podcast thumbnail mobile
Front Office Sports Today

Can MLS Get Bigger Than MLB?

0:00
0:00

Featured Today

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.
Mar 31, 2024; Portland, OR, USA; NCAA officials measure the three point line while coaches from the Texas Longhorns and NC State Wolfpack watch with referees in the finals of the Portland Regional of the NCAA Tournament at the Moda Center center.
April 1, 2024

NCAA Has No One to Blame for Latest Women’s March Madness Transgressions

NCAA is still making avoidable mistakes three years after a complete overhaul.
Nov 16, 2015; Bloomington, IN, USA; General view of the championship banners at Assembly Hall prior to the game between Austin Peay and Indiana.
March 31, 2024

How to Make It in Basketball: Become a Manager at Indiana

Inside the Hoosiers’ unglamorous, profoundly rewarding incubator for basketball’s biggest names.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Nike
Multiple - USA Careers
NBA
Multiple - USA Careers
Dunham's Sports
Multiple - USA Careers

‘Nothing Is Off the Table’: New AAC Commissioner Isn’t Afraid of the Controversial Ideas

Tim Pernetti told reporters he’s specifically interested in private equity—and didn’t rule out athlete employment or unionization models.
April 10, 2024

Stanford’s Tara VanDerveer Retires With ACC Move Looming

She set the all-time coaching record with 1,216 wins.
April 10, 2024

Deion Sanders: NFL Teams Manipulate Draft Positions

Coach Prime joined ‘Front Office Sports Today’ to discuss the state of college football.
Sponsored

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
April 9, 2024

John Calipari’s Kentucky Exit Is As Slow and Awkward As a Dog in a Stroller

Calipari steps away from Kentucky with the Arkansas deal still unofficial.
April 9, 2024

Simultaneous Final Fours: An Untenable Logistical Conundrum

The women’s Final Four has gotten much too big to take place at the exact same time—in a different location—as its men’s counterpart.
April 8, 2024

With Back-To-Back Titles, UConn Proves Basketball Is About More Than Power

Unlike in FBS football, a non-Power 5 basketball school can dominate.
April 8, 2024

South Carolina’s Title Win Smashes Ratings Records in Caitlin Clark’s Finale

The NCAA title game became the most-watched women’s college basketball game.