There has been a lot of confusion about Trevor Lawrence’s newcomer signing bonus and whether General Selection No. 1 in 2021 could have lost a large amount of money at the risk of cryptocurrencies, which, as we know, has collapsed in recent months.
It has been widely reported this week that Lawrence lost nearly $ 15 million to the deal. Full disclosure, at SB Nation, we did the same – but the truth is, Lawrence probably didn’t lose his NFL money. The confusion stems from the pre-project approval agreement that Lawrence signed with Blockfolio and the wording the company used when writing Lawrence in April 2021.
When Lawrence joined Blockfolio, they announced the confirmation agreement in a press release. In it, they referred to the money paid to Lawrence as a “signing bonus,” which is probably a sporty sound, saying he put the bonus in QB’s cryptocurrency bag.
“This partnership is the first confirmation transaction for which a significant signing bonus has been paid in full in cryptocurrency. The bonus was credited directly to Lawrence ‘s Blockfolio account and included Bitcoin, Ethereum and Solana.
There is no such thing as a “signing bonus” for a confirmation agreement. It’s just a confirmation agreement. When you sign a deal, you will receive a cash or, in the case of Lawrence, a crypt. Although the use of this sports term is quite harmless, things have jumped here. Following the Blockfolio press release, USA Today’s news gathered and confusion began.
The story combined the phrase “signing bonus” in Blockfolio’s press release and confused it with Lawrence’s actual NFL signing bonus from Jaguars, which was reported to be $ 24.1 million and was used as a source by Spotrac.
“Expected No. 1 in the 2021 NFL Draft, which will almost certainly head toward Jacksonville Jaguars, has partnered with the global cryptocurrency investment app Blockfolio and will transfer its signing bonus to the company’s account.”
“According to Spotrac, this year’s 1st Choice bonus is estimated at $ 22,630,055.”
So now we have a Blockfolio confirmation agreement, which is expected to be quite small and paid directly in crypts – and now it’s linked to Lawrence’s huge NFL contract bonus for the league and misreported. et the money was placed in crypt. Whether it’s an honest mistake or an attempt to make the story a little sexier, we’ve stayed in the same place: the confirmation agreement with the cryptographic company was paid in crypts and nothing more.
Then, on Tuesday, Sun Sentinel writer Coinjournal published the information and joked at Jaguars QB.
I don’t want to hear a word more about Trevor Lawrence’s decisions compared to Tua when things like that are out there (through Coinjournal[dot]network). pic.twitter.com/VKJ9Ycyy6F
– David Furones (@DavidFurones_) June 21, 2022
Of course, we know this is completely inaccurate – because there is no evidence that Lawrence put his $ 24 million in cryptocurrency. However, it was mentioned in many stories that Lawrence had copied the bag, although this was not the case.
That is all good news. No one should worry about someone losing their money, even if schadenfreude. Trevor Lawrence is a really nice guy and it’s stupid to think he did the biggest payday of his football career – but instead he probably only lost part of the original grant agreement. It’s bullshit, but it’s far from devastating.
SB Nation.com has contacted Trevor Lawrence Sports Agency for comment but has not received a response at this time.
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