Cleveland, OH

NILLY: Kendrick Perkins’ NIL Platform Faces Ethical Scrutiny

Published

13 hours ago

October 10, 2024

NILLY: Kendrick Perkins’ NIL Platform Faces Ethical Scrutiny

Former NBA champion and TV commentator Kendrick Perkins has attracted attention with the launch of NILLY, a platform designed to help college athletes navigate the intricacies of Name, Image, and Likeness (NIL) deals. Backed by Harlan Capital Partners, which has committed up to $200 million, NILLY aims to ease the financial strain on athletes by offering upfront payments in exchange for percentages of their NIL earnings. Yet, despite its seemingly positive and uplifting intentions, NILLY has faced scrutiny, with some questioning whether the model takes advantage of broke student-athletes needing quick cash.

Launched in February 2024, NILLY offers athletes cash advances ranging from $25,000 to several hundred thousand dollars. In return, the company secures exclusive rights to the athlete’s NIL for up to seven years, taking a portion of their future earnings, anywhere from 10% to 50%. Though this approach provides immediate financial relief, it has sparked concern among consumer protection advocates and financial advisers.

Perkins, who has an estimated net worth of $28 million, sees NILLY as a critical lifeline for athletes and their families, who often face significant financial challenges. “You have so many athletes and their parents who are struggling day-to-day,” Perkins stated. “Because we’re actually taking a bit of a gamble on what the student-athlete is going to make in the NIL space, the benefit is the kid, the student-athlete, gets financial security, so they don’t have to rush.”

However, financial experts are wary, suggesting that NILLY’s contracts may resemble high-interest loans in disguise. Michael Haddix Jr., CEO of Scout, which provides financial education to athletes, commented, “It feels predatory, and it’s capitalizing on young people who need money and haven’t thought through the long-term implications.” Likewise, Chris Peterson, a law professor at the University of Utah, bluntly labeled NILLY’s contracts as “trashy products designed to take advantage of young kids.”

One case illustrates how much athletes might end up giving away. According to a contract obtained by ESPN, a high school senior received $50,000 upfront, agreeing to give NILLY 25% of his NIL earnings for seven years or until the company recoups $125,000, 2.5 times its original investment. Critics argue that deals like this can leave athletes with significant financial burdens long after they leave college, with some paying the equivalent of $75,000 in potential earnings just to access $50,000 upfront, a steep cost for short-term relief.

In defense, NILLY co-founder Chris Ricciardi argued that these are not loans but licensing agreements. “There’s no interest rate. There’s no requirement to pay back… it’s purely a licensing deal,” he explained, emphasizing that NIL earnings are unpredictable and that NILLY assumes considerable risk by paying athletes without guaranteed returns. However, Mike Pierce, a former Consumer Financial Protection Bureau executive, advised caution, suggesting that the contracts’ fine print may reveal more. “The promise here that if you don’t make it big, you don’t have to pay anything back has a lot of fine print underneath it.”

As NILLY Continues to grow, with 20 athletes already signed on, the ethical debate around its model is gaining momentum. While Perkins and Ricciardi stand by the platform’s intent to provide immediate financial relief, critics warn that its structure could leave athletes with long-lasting financial challenges. The broader issue remains: Can NIL-focused ventures like NILLY truly empower athletes without taking advantage of them?

Source link

Cleveland, OH

AMBER ALERT issued for 3-month-old girl canceled

Published

4 hours ago

October 11, 2024

Press Room

AMBER ALERT issued for 3-month-old girl canceled

CLEVELAND, Ohio (WOIO) – An AMBER ALERT was briefly issued for a 3-month-old girl in Cleveland Thursday.

Police said her father 28-year-old Jackeel Kemorian La Priest Taylor attacked the girl’s grandmother and took her.

The 3-month old has been found safe and Taylor has been arrested.

This is a developing story. Check back with 19 News for the latest information.

Source link

Cleveland, OH

Highest-rated breweries in Ohio, according to Tripadvisor

Published

23 hours ago

October 10, 2024

Press Room

Highest-rated breweries in Ohio, according to Tripadvisor

CLEVELAND, Ohio – Cleveland gets a lot of press surrounding its stature as one of the premier beer destinations on the planet. With a massive slate of award-winning breweries, brewers and styles, it is uniquely positioned to serve sensational suds… and not at all shy about it.

Neither are the users over at Tripadvisor, who rave about the depth of options and character that our craft beer scene has.

Maybe you’ve got your favorite sudsy spot all picked out, but if you’re looking to shake things up or see what beer lovers from all over think about our choices, this little column is for you.

Whether you’ve been a local your entire life or just visiting the area, cleveland.com’s partnership with Stacker has you covered on this topic. Together, we’ve detailed the 30 highest-ranked breweries in Ohio as reviewed by users on the popular Tripadvisor website.

A source for over 1 billion (with a “b”) reviews and contributions by users, Tripadvisor is an incredibly popular way to find out what friends, neighbors and out-of-towners alike think about what’s doin’ in Cleveland.

Looking for other things to do around town? Or some great restaurant options? Together with Tripadvisor we’ve covered seafood restaurants, pizza, ice cream and even 8 different cuisines to try.

Methodology

Stacker compiled a list of 30 highest-rated breweries in Ohio according to reviewers for Tripadvisor. Check out the rankings below.

No. 30

Terrestrial Brewing Company

Terrestrial Brewing Company.
Alex Darus, cleveland.com

Rating: 4.5

Address: 7524 Father Frascati Drive, Cleveland

Read more about Terrestrial Brewing Company on Tripadvisor

No. 29

Akronym Brewing

Rating: 4.5

Address: 58 East Market St., Akron

Read more about Akronym Brewing on Tripadvisor

No. 28

Fibonacci Brewing Company

Rating: 4.5

Address: 1445 Compton Road, Cincinnati

Read more about Fibonacci Brewing Company on Tripadvisor

No. 27

JAFB Wooster Brewery

Rating: 4.5

Address: 120 Beall Ave., Wooster

Read more about JAFB Wooster Brewery on Tripadvisor

No. 26

Catawba Island Brewing Company

Rating: 4.5

Address: 2330 East Harbor Road, Port Clinton

Read more about Catawba Island Brewing Company on Tripadvisor

No. 25

Valley Vineyards

Rating: 4.5

Address: 2276 East US Highway 22 and 3, Morrow

Read more about Valley Vineyards on Tripadvisor

No. 24

Birdfish Brewing Co.

Rating: 5.5

Address: 140 East Park Ave., Columbiana

Read more about Birdfish Brewing Co. on Tripadvisor

No. 23

Sibling Revelry Brewing

Sibling Revelry is ready to play the brewing game in Westlake — Sibling Revelry Brewing
Photographs by Marc Bona | cleveland.com
The Plain Dealer

Rating: 4.5

Address: 29305 Clemens Road, Westlake

Read more about Sibling Revelry Brewing on Tripadvisor

No. 22

Municipal Brew Works

Rating: 4.5

Address: 20 High St., Hamilton

Read more about Municipal Brew Works on Tripadvisor

No. 21

Weasel Boy Brewing Company

Rating: 4.5

Address: 126 Muskingum Ave, Zanesville

Read more about Weasel Boy Brewing Company on Tripadvisor

No. 20

The Dayton Beer Company (Downtown)

Rating: 4.5

Address: 41 Madison St., Dayton

Read more about The Dayton Beer Company (Downtown) on Tripadvisor

No. 19

Railroad Brewing Company

Rating: 4.5

Address: 1010 Center Road, Avon

Read more about Railroad Brewing Company on Tripadvisor

No. 18

Urban Artifact

Rating: 4.5

Address: 1662 Blue Rock St., Cincinnati

Read more about Urban Artifact on Tripadvisor

No. 17

Little Fish Brewing

Rating: 4.5

Address: 8675 Armitage Road, Athens

Read more about Little Fish Brewing on Tripadvisor

No. 16

Fifty West Burger Bar

Rating: 4.5

Address: 7668 Wooster Pike, Cincinnati

Read more about Fifty West Burger Bar on Tripadvisor

No. 15

Findlay Brewing

Rating: 4.5

Address: 213 East Crawford St., Findlay

Read more about Findlay Brewing on Tripadvisor

No. 14

Twin Oast Brewing

Rating: 4.5

Address: 3630 Northeast Catawba Road, Port Clinton

Read more about Twin Oast Brewing on Tripadvisor

No. 13

Rockmill Brewery

Rating: 4.5

Address: 5705 Lithopolis Road, Northwest, Lancaster

Read more about Rockmill Brewery on Tripadvisor

No. 12

Seventh Son Brewing Co.

Rating: 4.5

Address: 1101 North 4th St., Columbus

Read more about Seventh Son Brewing Co. on Tripadvisor

No. 11

MadTree Brewing

Rating: 4.5

Address: 3301 Madison Road, Cincinnati

Read more about MadTree Brewing on Tripadvisor

No. 10

Brewdog Brewery

Rating: 4.5

Address: 96 Gender Road Canal, Winchester

Read more about Brewdog Brewery on Tripadvisor

No. 9

Moeller Brew Barn

Rating: 5.5

Address: 8016 Marion Drive, Maria Stein

Read more about Moeller Brew Barn on Tripadvisor

No. 8

Land-Grant Brewing Company

Rating: 4.5

Address: 424 West Town St., Columbus

Read more about Land-Grant Brewing Company on Tripadvisor

No. 7

Mt. Carmel Brewing Company

Rating: 4.5

Address: 4362 Mount Carmel Tobasco Road, Cincinnati

Read more about Mt. Carmel Brewing Company on Tripadvisor

No. 6

Northern Row

Rating: 5.5

Address: 111 West McMicken Ave., Cincinnati

Read more about Northern Row on Tripadvisor

No. 5

Warped Wing Brewing Company

Rating: 4.5

Address: 26 Wyandot St., Dayton

Read more about Warped Wing Brewing Company on Tripadvisor

No. 4

Eldorado Gaming Scioto Downs

Rating: 3.5

Address: 6000 South High St., Columbus

Read more about Eldorado Gaming Scioto Downs on Tripadvisor

No. 3

Maumee Bay Brew Pub

Rating: 5.5

Address: 27 Broadway St., Toledo

Read more about Maumee Bay Brew Pub on Tripadvisor

No. 2

Great Lakes Brewing Company

Ohio City restaurant exterior photo — Great Lakes Brewing Company restaurant in Ohio City.David Petkiewicz, cleveland.com

Rating: 4.5

Address: 2516 Market Ave., Cleveland

Read more about Great Lakes Brewing Company on Tripadvisor

No. 1

Rhinegeist Brewery

Rating: 4.5

Address: 1910 Elm St., Cincinnati

Read more about Rhinegeist Brewery on Tripadvisor

Highest-rated seafood restaurants in Cleveland, according to Tripadvisor

Highest-ranked pizza restaurants in Cleveland by diners, according to Tripadvisor

Highest-rated ice cream shops in Cleveland, according to Tripadvisor

Highest-rated restaurants for 8 cuisines in Cleveland: Italian, Indian, Greek, Mexican and more

Source link

Cleveland, OH

Top 10 US cities with lowest risk of climate disasters—including hurricanes, fires and floods

Published

1 day ago

October 10, 2024

Press Room

Top 10 US cities with lowest risk of climate disasters—including hurricanes, fires and floods

With Hurricane Milton heading toward Florida and swaths of the South still reeling in the wake of Hurricane Helene, many might be wondering: Is any place truly safe from extreme weather?

Indeed, natural disasters have already caused more than $25 billion in damage this year.

And the Realtor.com 2024 Housing and Climate Risk report found that 44.8% of U.S. homes are at risk for extreme weather exposure, including extreme heat, wind, flood, and wildfires.

These threats don’t just impinge on people’s quality of life; they also affect housing prices and home insurance rates.

Sun Belt states are among the most disaster-prone spots in the country, and it shows in their high insurance premiums. Mississippi—which experienced major flooding this past spring—has insurance rates that are 30% above the national average, and Florida’s home insurance rates are four times the national average.

Research from the First Street Foundation estimates that 3.2 million people have become “climate migrants” who are creating “climate abandonment areas” due to extreme weather conditions.

“There appears to be clear winners and losers in regard to the impact of flood risk on neighborhood-level population change,” Jeremy Porter, the foundation’s head of climate implications research, said in a statement. “The downstream implications of this are massive and impact property values, neighborhood composition, and commercial viability both positively and negatively.”

To help prospective buyers consider current environmental realities, Realtor.com created property-specific environmental risk scores for listings that allow users to assess the risk of hazards such as hurricanes, floods, and wildfires.

“Prospective homeowners can leverage these scores to evaluate climate-related risks across various locations, helping them identify ‘safer’ areas before making their final decision,” says Realtor.com economist Jiayi Yu. “Living in areas with a low risk of natural disasters offers numerous benefits to homeowners, including reduced risk of property damage, lower insurance costs, and a more stable local economy. This can contribute to a more secure, stable, and fulfilling lifestyle. Choosing to reside in areas with low natural disaster risk can help mitigate these concerns.”

Realtor.com also ranked the safest cities to live in around the country based on the share of homes that face minimal or minor hurricane, flood, or fire damage risk.

In case you’re curious where these safer-than-average havens are hiding, read on.