Report: NCAA launches inquiry into Miami NIL deals

The NCAA is looking into Miami’s recent NIL deals, according to a report.

That’s per Sports Illustrated’s Ross Dellenger, who reports that the NCAA spent 2 days in Miami interviewing people around the program, as well as billionaire booster John Ruiz.

Ruiz and his company, LifeWallet, have become prominent figures in the NIL space in recent months. LifeWallet has struck deals with Miami basketball stars such as Isaiah Wong and Nijel Pack.

However, Ruiz and LifeWallet have also signed deals with numerous football players. According to report from the Business of College Sports in February

, LifeWallet had already committed $2.3 million to Miami and FIU athletes through NIL deals.

Ruiz told Dellenger that his “payroll” number is now approximately $7 million and also includes student-athletes at North Carolina.

“I’m extremely comfortable with what we are doing. I have nothing to hide,” Ruiz told Dellenger after the NCAA’s inquiry. “It went super well. The NCAA is trying to wrap their hands around this sudden change of environment. They’re trying to figure out how the landscape is working.”

This is believed to be the NCAA’s first NIL investigation into an athletic department since student-athletes began legally profiting off their likeness last summer.

“I felt the people from the NCAA were extremely pleasant,” Ruiz added. “They are tasked with the job of making sure they gather enough information and create a functioning standard for everybody. There has to be better regulation.”

This will be worth tracking for Miami fans — and college football fans in general — over the coming months.