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The Florida Gators have granted Jaden Rashada – a highly touted quarterback recruit – his release from his National Letter of Intent (LOI) three days after he requested it.
247 Sports’ 7th-ranked QB of the 2023 class requested his release from his LOI on Tuesday after a reported $13 million name, image, and likeness deal fell through.
Team Speed quarterback Jaden Rashada (5) before the Under Armour Next All-America Football Gameon January 3, 2023, at Camping World Stadium in Orlando, FL. (Chris Leduc/Icon Sportswire via Getty Images)
The quarterback from Pittsburg, California, failed to enroll at Florida last week, raising red flags that his future in Gainesville was in doubt.
Rashada switched his commitment from Miami to Florida in November, giving head coach Billy Napier a significant recruit as he enters his second season in Gainesville.
But Rashada’s commitment was contingent on a four-year, $13 million NIL deal he signed with the Gator Collective, according to The Associated Press.
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On Dec. 7, Rashada reportedly received a letter from the head of the Gator Collective wishing to terminate the deal, according to a report by The Athletic.
Florida Gators commit Jaden Rashada looks on during the second half of a game between the Florida Gators and the South Carolina Gamecocks at Ben Hill Griffin Stadium on November 12, 2022, in Gainesville, Florida. ( James Gilbert/Getty Images)
The Gator Collective is a "fan club that connects athletes with fans while allowing the athletes to earn compensation for their name, image, and likeness."
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While the reasons behind the deal falling apart are unclear, the AP reported that not all of the financial backers were aware that the deal had gone from around $5 million to more than $13 million.
Rashada’s release from his LOI puts Florida’s quarterback room in a tough spot.
Florida Gators commit Jaden Rashada looks on during the second half of a game between the Florida Gators and the South Carolina Gamecocks at Ben Hill Griffin Stadium on November 12, 2022, in Gainesville, Florida. (James Gilbert/Getty Images)
2022 starter Anthony Richardson declared for the NFL Draft after the season, and Florida dismissed backup quarterback Jalen Kitna in December after he was arrested on child pornography charges.
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The Gators were able to add Wisconsin transfer Graham Mertz in December to compete with Jack Miller III for the starting job next season.
Rashada took official visits to LSU, Texas A&M and Ole Miss to go along with his visits to Miami and Florida.
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