Getty Image
Perhaps the biggest surprise of the December transfer portal window in college football involved former Tulane quarterback Darian Mensah making a surprise move to join the Duke Blue Devils. Mensah burst onto the scene for the Green Wave and was expected to be a hot commodity when he hit the portal. But nobody expected him to end up with Duke, who is far from a traditional power in the ACC.
Later reports revealed that he agreed to a jaw-dropping two-year, $8 million deal with the Blue Devils with an option for a further year as well. The architect behind that deal was NIL agent Noah Reinsfeld, the executive vice president of NIL and business development for Lil Wayne’s sports agency.
Reisenfeld is a 25-year-old former college baseball player whose career was cut short due to injury. He pivoted into podcasting and eventually the NIL space. Although it does not appear he’s a certified agent.
NIL Agent Admits To Conning His Clients Out Of Massive Amounts Of Money
He recently went on a YouTube show to discuss his work and revealed something that he might now wish he hadn’t. During the discussion, Reisenfeld stated that “pretty much every NIL agency charges 20%” compared to NFL and NBA standard of 3-5 percent.
He went on to state that his agency believes a $10 million deal in the NFL equates to a $1 million deal in college. However, an NFL agent makes $300k on that deal compared to $200K on the college deal, a massive proportional difference.
Herein lies the problem. His claim is being refuted left and right.
Translation: I’m banking on college players & their families being dumb enough to believe this https://t.co/hrrmGbhDjp
— Josh Pate (@JoshPateCFB) January 11, 2025
This kind of pricing was more common a few years ago, but it absolutely isn’t the standard in 2025. Anybody saying they need to charge 20% or more for a collective deal isn’t somebody you want to do business with. That’s predatory. No way around it. https://t.co/OxV7VWUCNr
— Matt Brown (@MattBrownEP) January 11, 2025
A lot of families entering the college space are new to this so they don’t know any better. 20% is robbery. https://t.co/8WcmfWQeda
— Dan Wolken (@DanWolken) January 11, 2025
Several well-informed media members shot down Reisenfeld’s claim that 20 percent is the industry. As did multiple lawyers involved in the NIL space.
College athletes, 20% is not the industry standard for negotiating/reviewing an NIL agreement with a collective or school.
Nor should it be.
Another example of college athletes needing a players association to educate them and represent their interests in areas like this. https://t.co/hE38IpQYPu
— Mit Winter (@WinterSportsLaw) January 11, 2025
Reisenfeld more or less revaled that he is conning his clients out of money. Regardless of how large a deal he may get them, that’s just a brutal look.