Five-star quarterback prospect Jaden Rashada has been released from his national letter of intent by the University of Florida days after a crucial $13 million name, image and likeness endorsement deal fell apart, ESPN reports.

Rashada, who signed with the Gators in December, had requested his release on Wednesday (January 18) after failing to enroll early at the University of Florida for the spring semester last week.

Earlier this week, a source with knowledge of the situation confirmed to the Associated Press that Rashada's future at UF was contingent on a four-year, $13 million NIL deal he signed with the Gator Collective, an independent fundraising arm that pays student-athletes endorsement money in all sports. The group, however, terminated its binding agreement with Rashada, which has led to the quarterback's absence and uncertain future in Gainesville.

Rashada's representatives would've reportedly been able file a lawsuit against the Gator Collective and possibly the UF athletic department in relation to the failed deal had his release not been granted, according to the AP.

Rashada was rated as a five-star prospect by 247Sports and a consensus four-star prospect by On3.com, ranking as the No. 7 quarterback, No. 6 player from the state of California and No. 64 overall prospect for the 2023 national recruiting cycle.