How much money could Mikey Williams lose in the NIL Puma deal as he potentially faces 30 years in prison?

According to recent reports, basketball recruit Mikey Williams could face up to 30 years in jail. He has also lost his NIL sponsorship deal with Puma. This follows fresh charges being added to his existing case, which originated from witness testimony at a preliminary hearing held in early October. Williams is already facing five felony assault charges.

The lost Puma deal is the latest blow to Williams following his legal problems. According to FootwearNews, the young player stands to lose up to $3.3 million, relating to the Puma NIL's total valuation through the years.

On the high end, industry expert Matt Powell estimated that the brand was paying Williams $50,000 per year, which he now also stands to lose.

Mikey Williams was among the first high school athletes to ink a major endorsement deal. The deal was announced in October 2021, making Williams the first American high school basketball player to sign a deal with the company. In addition to a shoe deal, the agreement also contained an apparel component to it.

Williams' agent, Vice President of Excel Sports Matt Davis said during the announcement of the deal:

"This one is special because it's the first of its kind, and no other high school basketball athlete has a shoe deal with a global footwear brand..."

Mikey Williams' legal troubles continue to hurt his financial portfolio

Mikey Williams' legal problems started when he was arrested in April and charged with six felony counts of discharging a gun at an occupied vehicle, emanating from an incident at his million-dollar home in Jamul.

Williams, who has a large following on social media, pleaded not guilty to the multiple felony charges and was released on a $50,000 bond. One of the conditions of the bond was that he couldn't possess guns or ammunition.

The charges had grave financial repercussions for Williams. His NIL portfolio started taking hits when LaceClips, a sports tech company that makes wearable fitness trackers, cut ties with the Memphis basketball signee.

LaceClips president Jonathan Nussbaum said: "He is not someone that will be associated with our brand going forward."

The loss of the Puma deal is yet another blow to Williams.

During the preliminary hearing, the judge presiding over the case ruled that the gun charges against the basketball star would proceed to trial. It remains to be seen whether Mikey Williams will be able to shed his legal troubles and continue with his basketball career.