“Why is the (LOI) the worst contract in American sports? It requires players to sign away their right to be recruited by other schools. If they don’t enroll at the school with which they signed, they forfeit a year of eligibility. Not a redshirt year, but one of their four years to play. In return, the (LOI) guarantees the player nothing.
“Sure, the (LOI) claims to guarantee a scholarship, but that simply isn’t true. That is contingent on the player being admitted to the school and on the football program staying below the 85-scholarship limit. A school can dump the player at any point between Signing Day and preseason camp, and he would have no recourse. This guarantee is no different than the one on a conference-approved financial aid form, but it costs the player something the financial aid agreement does not.”