There's nothing like"signing bonus" or "signing bonus" in relation to an endorsement contract. It's simply the endorsement contract. When you sign the contract, you get paid money or, in Lawrence's case, you get crypto. While using this sports term seems to be a common practice but it's in this instance that things got a bit more complicated. Following the Blockfolio press announcement, USA Today aggregated the announcement and Madden 24 coins that the confusion started.
The story that was published by Madden NFL 24 used the term "signing bonus" which was given as a part of the Blockfolio press release. Then, it blended it with Lawrence's actual Madden NFL 24 bonuses for signing from the Jaguars in reporting it being $24.1M as well as using Spotrac as an source."The presumptive No. one overall selection for the 2021 Madden NFL 24 draft, most likely headed to Jacksonville Jaguars Jacksonville Jaguars, has partnered with a cryptocurrency investment platform called Blockfolio and will deposit his winnings into an account owned by the company."
"According to Spotrac the sign-on bonus .This year's No. one pick is $22.630.055." Now we have an endorsement agreement with Blockfolio that is probably quite small in relation to the overall picture that was paid in crypto -- and recently, it's been tied to Lawrence's huge Madden NFL 24 signing bonus from the league. The league has also misreported that money was placed into cryptocurrency. This could be a mistake that was made in good faith, or a plot to turn the story a bit more sexually sexier we're in the same spot: An endorsement agreement with a crypto company was paid in crypto and nothing more.
Then, on Tuesday, a writer for The Sun Sentinel took information published by Coinjournal and posted an unintentional tweet mocking an Jaguars QB. Of course, the tweet is not truesince there's no proof that Lawrence invested his $24 million in crypto. The fact is that this information was reported in numerous reports claiming Lawrence had fumbled the bag but that's not the circumstance.
This is great news. No one should be cheering for anyone who loses money, even in the form of schadenfreude. Trevor Lawrence is a really lovely guy. It sucks to think he botched the biggest cash-flow of his football career- but instead he probably got a fraction of the mut coins madden 24 money out of that endorsement deal. It's a pain, but not anything to worry about.