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quarterback for the New Orleans Saints of the National Football
League. Prior to playing professional football, Wilson attended
a junior college in southern California for 2 years and the
University of Illinois for 1-1/2 years. He played quarterback
for the University of Illinois for 1 year, but lost his
eligibility to play football during his planned last year there
and in 1981, decided to play in the National Football League.
Wilson's college background and the litigation by which he became
eligible to play football in the Big Ten for the 1980 season but
was prevented from playing in that league for 1981 are described
in Wilson v. Intercollegiate (Big Ten) Conference Athletic
Association, 668 F.2d 962 (7th Cir. 1982). While attending the
University of Illinois, Wilson met Wayne Paulson (Paulson).
Through Paulson, Wilson met Efron, who became his sports agent
and his attorney for negotiation of his initial contract with the
New Orleans Saints. At the time of trial, Efron had been
Wilson's sports agent for 13 years, and over the years he had
responsibilities with respect to the management of Wilson's funds
and investments. Nevertheless, as to the EI investment in
Clearwater in issue here, Efron sent Wilson copies of the
offering circulars, kept him informed, and obtained Wilson's
approval of the investment.
Sorey also learned of EI and the Clearwater transaction from
Efron. During the years in issue, Sorey was a professional
football player for the Chicago Bears of the National Football
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