Kendrick Perkins’ endeavor is receiving a lot of flak from experts and netizens. In today’s world, ethical and socially responsible businesses are all the rage. Anything less is subjected to scrutiny. Recently, Perkins’ company, which aims to help and guide young athletes, has come under fire for similar reasons. However, Perkins has now come forward to address the matter.

The issue began when financial experts and netizens expressed concerns that NILLY NIL, co-founded by Perkins, may be problematic regarding student athletes’ benefits. They worry that the company might be taking advantage of several young individuals under the guise of a good cause. 

Finally, responding to the matter, Perkins clarified that there are no such complaints from the student-athletes who are with the company. There are currently 20 of them. “We’re going to continue to move, because none of the athletes that already signed up with NILLY, and we have relationship with, are complaining. Aren’t complaining at all. Matter of fact, they’re good,” Perkins confirmed.

“They tried but the misleading information will not be tolerated and the @nilly.us is still alive and well. We will continue to be here for the athletes and do the right thing by them. Everybody else spreading lies can kiss my a** twice!!! Much love my brother @drichtv,” Perkins wrote in the comments section of the IG post that shared the clip of his interview.

Sharing the same post on his Stories as well, he wrote, “I finally addressed misleading information about my company Nilly with @drichtv and I spoke the TRUTH and REAL about everything!!!! The whole truth and nothing but the Truth!”

The ex-NBA player also seemed upset with the articles that are making rounds on social media. These articles claim that there are several “red flags” in NILLY NIL. What is this company about though? 

Nilly is a platform that helps student-athletes with their finances. It offers advance payments to students from $25,000 and more who need it right away. But in exchange for that, the company will get exclusive rights to the athlete’s NIL deal for the next 7 years. The company’s portion could be anywhere from 10% to 50%. 

What are the concerns related to Kendrick Perkins’ company?

The company essentially helps student-athletes with their Name, Image, and Likeness (NIL) deals, which can be especially beneficial for those in need of money at a particular time. However, it may later impose high interest rates on the loans.

As per an example provided by ESPN, a student-athlete who received a $50,000 payment would have to give up 25% of their NIL earnings for seven years.

When the total amount was calculated at the end of the contract, it amounted to 2.5 times the original sum. Backed by Harlan Capital Partners, the company and its payment structure that is supposed to help athletes has not received entirely positive feedback. While Kendrick Perkins has advocated for the company, experts remain concerned that the payment structure could be problematic.

In short, Perkins clarified that athletes are “good” about their practices, which financial experts have deemed potentially unethical. While the concern is understandable, Perkins continues to emphasize how helpful this initiative could be for students.

Stay tuned for more such updates and join us for the exciting second episode of the “Dual Threat Show” as our host BG12 sits down with Georgia Bulldogs star and Mountain West All-Freshman Team Selection, Asia Avinger