There's been some confusion surrounding Trevor Lawrence's first-round signing bonus and the possibility that the Mut 24 coins number. one overall pick in 2021 may have suffered a spectacular amount of money by betting on cryptocurrency, which , as we've seen, has crashed in recent months.
This week there have been widespread reports that Lawrence suffered a loss of nearly $15M due to his contract. It's true that SB Nation is one of them. SB Nation we did as well -- but the truth is that Lawrence most likely didn't loose all of his Madden NFL 24 money. The confusion comes from the endorsement deal that pre-draft Lawrence was signed under the name "Blockfolio," and the words used by the company when they inked Lawrence in April of 2021.
When Lawrence joined Blockfolio they announced their endorsement deal via an official press release. In the release they described the cash they paid Lawrence as a "signing bonus," likely as a strategy to sound like a sportsperson, claiming they were depositing the reward into a crypto wallet for the QB."This partnership marks the first time in history which a significant signing bonus was paid out entirely in cryptocurrency. The bonus was directly deposited into the player's Blockfolio account and was accompanied by Bitcoin, Ethereum and Solana."
There's no such thing as"signing bonus" or "signing bonus" in relation to an endorsement contract. It's the endorsement contract. You sign the deal and then you're paid -- or in the case of Lawrence the crypto. While the usage of the word "sports" is fairly innocuous however, this is where things went off the rails. In the wake of the Blockfolio press announcement, USA Today aggregated the news , and that's where that the confusion started.
The article coMadden NFL 24ated the phrase "signing bonus" which was given on the Blockfolio press release. They also was able to combine it with Lawrence's official Madden NFL 24 award offered by the Jaguars -- reporting it as $24.1M as well as using Spotrac as the source."The likely No. 1 overall pick of the 2021 Madden NFL 24 draft, probably headed to The cheap madden 24 coins Jacksonville Jaguars, has partnered with a world-wide cryptocurrency-based investment app called Blockfolio and plans to transfer his signing bonus into an account owned by the firm."