This week there were wide reports that Lawrence has lost nearly $15 million due to his deal. We're not lying, on our side at SB Nation we did as well , but the truth is that Lawrence likely didn't lose all of his Madden NFL 24 amount. The confusion comes from an endorsement contract pre-draft Lawrence signed with "Blockfolio," and the terms used by the company to announce that they inked Lawrence in the month of April in 2021.

As soon as Lawrence joined Blockfolio they announced their endorsement deal via a press release. In the release they described the amount they paid Lawrence as an "signing bonus" likely as a strategy to sound cool, by depositing the bonus into an account in a cryptocurrency wallet for the QB."This partnership is the very first endorsement deal in which a significant signing bonus has been paid entirely in cryptocurrency. The bonus was directly deposited to the Lawrence's Blockfolio account, and comprised Bitcoin, Ethereum and Solana."

There's nothing called"signing bonuses" or "signing bonus" in the context of an endorsement contract. It's simply an endorsement contract. When you sign the contract, you get paid money or, in the case of Lawrence, you get crypto. Although the term used in sports seems to be a common practice the moment you read it, things went off the rails. In the wake of the Blockfolio press announcement, USA Today aggregated the news , and that's where the confusion began.

The story was co-written by Madden NFL 24 added the word "signing bonus" that was mentioned within the Blockfolio press release, and blended it with Lawrence's actual Madden NFL 24 reward for signing with the Jaguars and reported it as $24.1M with Spotrac as source. source."The presumed number. 1 overall pick for the 2021 Madden NFL 24 draft, probably headed to the Jacksonville Jaguars, has partnered with a global cryptocurrency-based investment application called Blockfolio and will transfer the money he earns from signing into an account of the firm."

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