Report: Jaden Rashada Released from Florida LOI After $13M NIL Deal Falls Through

There reportedly will be no $13 million name, image and likeness deal for quarterback Jaden Rashada and the Florida Gators.

Pete Nakos of On3 Sports reported Rashada was released from his national letter of intent with the SEC school after previously signing during December's early signing period. He both verbally requested to be released and filed official paperwork for it to happen Tuesday.

Richard Johnson of Sports Illustrated confirmed he was released from his letter of intent.

Mike Bianchi of the Orlando Sentinel (h/t Nakos) previously reported the reason Rashada had not arrived on campus for the Gators was an issue with an NIL deal that was worth approximately $13 million over the course of four years.

According to 247Sports' composite rankings, Rashada is a 4-star prospect and the No. 59 overall player, No. 7 quarterback and No. 6 player from the state of California in the 2023 recruiting class.

He would have been a major addition for the Gators, but they still have the No. 11 class in the country by 247Sports' composite rankings. What's more, former Wisconsin quarterback Graham Mertz transferred to the school this offseason and figures to be the immediate replacement for the NFL-draft-bound Anthony Richardson.

As for Rashada, it remains to be seen where he will end up.

Nakos noted it "is not easy to predict" at this point even though Arizona State, Colorado, Cal and Washington are all potential candidates, especially if he chooses to stay closer to home after the Florida situation.

He previously committed to Miami but announced in November he decided to join the Gators instead.

There may not be a $13 million deal waiting for him whenever he makes his next decision, though, as he has an NIL valuation of $450,000 at On3 Sports.