Has Anyone else seen this yet?

[blacklistedbully]

My first reaction is that whoever is behind this is hoping to make good bank on the interest. Good time to capitalize on fan frustration with the NCAA, etc.

"Sure, we'll offer to refund your money if the athlete doesn't graduate, and/or give the amount pledged to the graduates. In the meantime, thank you for the opportunity to earn and keep interest for however many years we hold your money!"

Also, if you carefully read the TOS, they only have to "offer a gift", not money. They say they will return the money pledged, "if the gift is rejected". That says nothing about if the athlete simply doesn't respond. So, they could send out a letter, could even be something they figure will be ignored, like those infamous, "free cruises" we all get hounded with and dismiss out-of-hand. If the athlete doesn't respond at all, FanPay gets to keep the money in the escrow account indefinitely, as far as I can tell.

Seriously, if you look at the terms & conditions, there are many holes in there that allow the owners of that site to profiteer, even keep the money. I'm all for capitalism, but don't like being manipulated. This thing smacks of someone trying to make easy money using OPM, while selling it as something else.

I suspect this is much more about manipulating contributors than it is about sending a message to the NCAA or providing for athletes.