NIL agent says Miami hoops star Isaiah Wong will enter transfer portal if NIL compensation isn't increased

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If his NIL compensation isn't increased, he will enter the transfer portal on Friday.

Papas said that if the NIL number doesn't meet their expectations, they will be entering the transfer portal tomorrow, while maintaining his eligibility in the NBA draft and going through the draft process.

Wong, a two-time all-ACC player and the second-leading scorer on a Hurricanes team that reached the NCAA tournament's Elite Eight, declared for the draft earlier this week.

Papas said that he would like to stay at Miami. He wants his NIL to reflect that he was a leader of the team that made it to the Elite Eight.

Due to state law, schools in Florida are not allowed to be involved in NIL deals. Papas said he is not speaking directly with the Hurricanes coaching staff.

Papas says he negotiated an NIL deal for Nijel Pack that included $800,000 over two years and a car. Pack was the top player in the transfer portal before he committed to Miami. The deal was funded by billionaire John Ruiz, who has been at the forefront of the NIL movement, orchestrating deals across several sports. Among them are deals with college basketball twins Haley and Hanna, as well as UCLA football transfers.

According to a report in the Miami Herald on Wednesday, there are more than 100 deals signed or pending with Hurricanes athletes to promote his companies, LifeWallet and Cigarette Racing.

Papas, who also represents Miami power forward Jordan Walker and South Dakota State star Baylor Scheierman for their NIL deals, said it was a unique situation just completing Nijel Pack's deal with Miami.

Wong was unhappy with his NIL compensation.

He has been treated well by LifeWallet. I wish him well if that is what he decides to do. I can't say how much, but I can say that he was treated fairly.

The lack of clear NCAA guidelines has created a lot of uncertainty regarding what is permitted in the NIL space and what isn't. Question marks remain around what this new, unregulated market can sustain among schools that have huge fan bases and rich alumni compared with those that don't, or with those that have yet to dip their toes in the NIL waters.

The deadline to enter the transfer portal and still be eligible to play next season is May 1, and a flurry of elite college basketball players have entered or say they plan to enter this week. Many of the biggest college sports programs in America have been boosted in recent months by NIL collectives, groups of fans with varying budgets designed to funnel money to current or future athletes in exchange for monetizing their brands through endorsement deals, appearance fees, social media posts, autograph signings and more.