Incoming Memphis Tigers freshman hoops star Mikey Williams lost his sponsorship deal with sports technology company Lace Clips, according to reports.
“We are not continuing our partnership with Mikey Williams,” Jonathan Nussbaum, the president of Lace Clips said to TMZ. “He is not someone that will be associated with our brand going forward.”
Was Williams Honoring Lace Clips Partnership?
TMZ also reported that the relationship between Williams and Lace Clips was already eroding prior to the arrest because he allegedly hadn’t been fulfilling the terms of his contract.
Williams was arrested in April on charges of assault with a weapon and one count of firing into an occupied vehicle.
According to police, Williams fired a gun at a carful of people who had just left his residence in San Diego. A search of Williams’ home preceded the arrest.
“Five people got into a car and as they were driving away, shots were fired,” according to the San Diego County Sheriff’s Department incident report. “The car was hit, but no one was hurt.”
Where Do Things Stand Legally For Williams?
Williams has pleaded not guilty to the charges and the court proceedings are ongoing. He is due back in court for another hearing in June.
Troy P. Owens, the attorney representing Williams, said the investigation into the incident is still ongoing and he will have more to say upon completion of the investigation.
“The facts are still under investigation,” Owens told ESPN last month. “I look forward to the opportunity to provide a statement about what actually happened on the night of the incident. Unfortunately, at this time I cannot compromise an ongoing investigation and will have to wait.”
At the time of the arrest, Memphis head coach Anfernee “Penny” Hardaway said Williams was still a part of the team.
“I can’t even speak on the case, out of respect for the ongoing process of what’s happening,” Hardaway said. “I don’t know enough to speak on it. That’s all I have to say about that. I don’t really have anything else to say about it.”
Williams was once ranked third in terms of athlete valuation, according to On3, which tracks the value of NIL deals signed by high school and college athletes. Williams’ annual value from deals was a reported $3.3 million. The site has suspended valuation of Williams, likely due to his arrest.
He reportedly still has deals with Cash App and Puma.
These types of deals come and go for a variety of reasons. The NIL space is still new, and brands and athletes are working on how best to achieve their desired goals.
If Williams clears his legal troubles and plays well for Memphis next season his NIL valuation and potential will increase. He is very popular on social media and has charisma.
The 6-foot-2 combo guard was ranked in the top 50 of his class and possesses athletic talent. He has a quick first step and can shoot from deep as well as from the midrange.
