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'Substantial doubt' over company of Miami booster John Ruiz

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Miami's mega-booster, who has spent millions on NIL deals for Hurricanes athletes in recent years, told investors this week that there is 'substantial doubt' that his company, LifeWallet, will stay in business, according to an SEC filing.

Paul Finebaum and Heather Dinch both agree that Miami is the most underrated team in the preseason AP Top 25.

In the SEC filing, Ruiz said that LifeWallet, a large-scale medical claims company, had made $7.7 million in revenue last year and suffered a net loss of $211 million. It's unclear whether the company's financial troubles will impact its NIL deals with current athletes. Ruiz, an attorney, is the leader behind the push for a new Miami football stadium, to which he has committed millions of dollars.

 

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