The Mandel article literally quotes the contract. It also quotes the lawyer for the kid in question saying he's not going to ever let one of his clients sign something that involves a collective keeping the athlete's NIL rights after the relationship ends. No one has said the kid in question isn't tied to the collective in question but it's not the permanent indentured servitude you guys seem to want. The ultimate problem is that it's still not permitted, despite popular understanding to the contrary, to condition in NIL deals upon an athlete attending or remaining at a certain school, and that problem can't be alleviated in some of the cartoon-ish ways folks are imagining. That's why the forwarding of money, especially prior to enrollment, contains an element of risk. That risk is nothing new in the bag man game. Eric Dickerson drove a Trans Am that Texas A&M bought him to SMU.
