You see these kids like Addison (Pitt), Caleb Williams, etc leaving schools for pay days. Now these "students" are making serious $$ what is the likelihood they become pre Madonnas and become lessor players? If you have a 1M in college you not going to grind in hustle like a broke college kid.
NIL money catch 22
- Thread starter Quest4Twelve
- Start date
Why don't we go after Addison, we totally recruited that dude, and we need WRs badly! We should have taken his damn commitment last year, instead of, in our legitimately dire position group crisis at WR, taking only ONE.... and then no transfers other than a D-3 kid who hasn't even committed yet.
We got that little slush fund all set up, thanks to 'Mendoza', and BQ too. So we can afford him. And he's only a freshman, so he can catch up academically. Pitt's a pretty good school. It's not any worse than ND, just not as snooty, with a slightly lower SAT/ACT profile amongst its HS applicants and that's about it.
We got that little slush fund all set up, thanks to 'Mendoza', and BQ too. So we can afford him. And he's only a freshman, so he can catch up academically. Pitt's a pretty good school. It's not any worse than ND, just not as snooty, with a slightly lower SAT/ACT profile amongst its HS applicants and that's about it.
the question for me is have all these kids been talked to about the IRS because all this money isn't free at no cost
Still, if you're making a million dollars on one of these deals, and you don't make allowances for that sizable tax bill that will come due, it's definitely something that would count as a practical consideration, and something that could very likely befall more than one player if they weren't careful/responsible enough.
Can huge tax bills that could very conceivably go unpaid by negligent, unworldly teenagers, be used as an expedient to put an end to the practice, on the grounds that it's in the players' best interests to eliminate the risk by simply eliminating the actual payments, which is presumably the only reason anyone would ever care or bring it up, as a cheap means to try to slyly sabotage this new state of affairs.... I think the answer to that would be a big NO. So keep dreaming on that score. That would just be too... I don't even know the word for it, too paternalistic, and transparent and denigrating and just generally terrible and egregious to even suggest such a thing, that it wouldn't gain too much traction. But the reactionary crowd is willing to try anything to see what might stick no matter how insulting or perverse or evil....
Here's something that comes to mind. Just have the taxes prepaid by the big boosters, so the players don't have to worry about it. So a million dollar deal is really only 600 grand, or whatever. And just make that the industry standard. There's no certainly no reason why the very real possiblility of delinquent tax bills would unavoidably be this big problem and pernicious unintended consequence....
Can huge tax bills that could very conceivably go unpaid by negligent, unworldly teenagers, be used as an expedient to put an end to the practice, on the grounds that it's in the players' best interests to eliminate the risk by simply eliminating the actual payments, which is presumably the only reason anyone would ever care or bring it up, as a cheap means to try to slyly sabotage this new state of affairs.... I think the answer to that would be a big NO. So keep dreaming on that score. That would just be too... I don't even know the word for it, too paternalistic, and transparent and denigrating and just generally terrible and egregious to even suggest such a thing, that it wouldn't gain too much traction. But the reactionary crowd is willing to try anything to see what might stick no matter how insulting or perverse or evil....
Here's something that comes to mind. Just have the taxes prepaid by the big boosters, so the players don't have to worry about it. So a million dollar deal is really only 600 grand, or whatever. And just make that the industry standard. There's no certainly no reason why the very real possiblility of delinquent tax bills would unavoidably be this big problem and pernicious unintended consequence....
The Collective's are doing all the tax work for the athletes .
Do you think they're handing them cash in envelopes ?
Oh good, so somebody somewhere had enough presence of mind to foresee the very real potential for these kids to F up their newfound tax burdens, and owing the IRS hundreds of thousands of dollars and no money left to pay it wouldn't be good for anyone....
And so they come up with a plan! It's one of those crazy things human beings are capable of - planning ahead. And doing so with prudence, sagacity, and sufficient expertise and knowledge of whatever it is they're planning so that they won't bungle it. Especially business types. I don't know if you'd want an artists' colony to be in charge of all the details in big money NIL deals, but rich businessmen and professional accountants and lawyers? They're all over that shit!
And so they come up with a plan! It's one of those crazy things human beings are capable of - planning ahead. And doing so with prudence, sagacity, and sufficient expertise and knowledge of whatever it is they're planning so that they won't bungle it. Especially business types. I don't know if you'd want an artists' colony to be in charge of all the details in big money NIL deals, but rich businessmen and professional accountants and lawyers? They're all over that shit!
Pros and entertainers have tax issues. It won't be a surprise if college kids end up having some issues with that
You don’t talk to the IRS, you talk to your tax attorneys !
But all of the talk to tax attorneys usually goes for naught when 18 year olds come into millions of dollars.
Third parties can’t pay the taxes for the players without additional taxes being levied..
Corporately, it would be additional taxable income.
Grossing Up is expensive.
Personally, it would be deemed a gift by the donor, and gifts in excess of $ 16,000 have to pay a significant gift tax.
There’s this feature, it’s called “withholding“ ! 😜
Whatever. Perhaps that's true, but they can work something out where a portion of the million is set aside for tax purposes, for settling with the IRS. I think you know what I mean....
Or not, and the individual players will have to grow up and deal with it on their own. And if some don't and get in hock with the feds, then so be it....
If an incoming student/football player makes a couple of million as NIL for recruitment, does he still get tuition, room and board, training, and health insurance free from the university? Those are also not taxed. If these things are not free, at some point a player may need to make at least a couple of hundred thousand in NIL to break out even from what he had pre NIL recruiting.
Yes, he still fcking gets it. On what effin' planet, in your guys' diseased, mongoloid slave-owner brains would he not still get that. On what basis, other than that of a slave owner to a slave, would he not get the scholarship? Other than you imposing a rule, completely arbitrarily, in the exact same way as a slave owner towards a slave?
I can't think of any. He could make literally a trillion dollars for every snap, and he would still get the scholarship, and the room and the board. As there would be no reason, other than that of a slave owner behaving capriciously towards his slave, why you would take away his scholarship and his full ride.
Here's what you could do, though..... You could just not offer him a scholarship. And then he would just go to a different school. Got it? Is it beginning to get your through your dense, mentally-retarded skull now, how this actually breaks down? You could full blown reinstitute slavery, and grant yourself total arbitrary power of life and death over these athletes, that is if you think you have enough muscle to back it up. Or you could watch him play for another team, and they'll give him a scholarship. Those are your choices.
But one option not available to you, is to have prospect X, some elite five-star recruit, play for your favorite team, make a shitload of NIL money, and then for some unexplained, baseless, senseless reason take away his scholarship. That's what you would never be able to do. Any effin' player on your team is also going to be on scholarship, regardless of how much money they make on the side.
And that's real talk. Taking away the players' scholarships is not and never will be an option under any circumstances ever of any kind, unless the players themselves voluntarily agree to it, which they presumably never would, if only out of spite for fans like yourself and the value of the scholarship is chicken feed to them. So please don't bring it the F up again.....
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An incoming player who gets $8 million before seeing the field could easily pay for his education and open up an added spot for another scholarship player. You can't tell me that the star player alone fills the stadium and makes tons of money for the school. Its a team sport and people would go to the game or watch on tv without him.
Okay, well, it doesn't work that way. You guys somehow have to get rid of this perverse idea that you're going to take their scholarships away. I know your stricken with an uncontrollable childlike impulse to resent the players, and to instinctively assume that you're going to keep lording it over them somehow. And all over-the-top slavery comparisons aside, for all that's holy just let that shit go. They're not going to have their scholarships pulled! Not for any reason at all under the sun. Absolutely never even if they make a trillion dollars per play in NIL dollars....
So whatever your benighted little worldview about what's right and wrong in the world, and the way things ought to be and all that jazz.... they're always going to be on scholarships. No matter what the future brings even if that means fully unionized professionalization and a 50/50 revenue split just like the NFL, never but never will they ever have to pay for their own tuition. That this has to actually be explained to you is almost surreal. You guys are like practically autistic on this subject, with this infantile almost Fruedian obsession about pulling their scholarships. Unless you're purely trolling, in which case touche, well played....
Some athletes will do great and manage their money well. They'll hire the right people & stick to a budget. Some will live beyond their means and go into debt. These guys are no different than our own friends & families. Some people are great at managing their money & some are piss poor at it.
Ive noticed that the sky is falling crowd tends to want 1 set of rules for themselves & a mythical "play for the love of game/school pride bs" for kids busting their asses & risking their health every week.
It's part resentment & part status quo nostalgia for a past that never really existed in 1st place.
The threats from this group of not watching the games are the most comical too me. 99.99% of CFB fans that are complaining will never contribute a penny to these athletes, but will still bitch and moan while watching every Saturday, bet the spreads, catch the occassional tailgate/game. Their faux outrage be damn
Ive noticed that the sky is falling crowd tends to want 1 set of rules for themselves & a mythical "play for the love of game/school pride bs" for kids busting their asses & risking their health every week.
It's part resentment & part status quo nostalgia for a past that never really existed in 1st place.
The threats from this group of not watching the games are the most comical too me. 99.99% of CFB fans that are complaining will never contribute a penny to these athletes, but will still bitch and moan while watching every Saturday, bet the spreads, catch the occassional tailgate/game. Their faux outrage be damn
yes i understand that but not many kids 18 or 19 are signing a contract worth several thousands if not millions like the CA QB going to UT for 8 million
The rest get a close look at the laws of supply and demand. It will stick a lot more strongly than looking at curves in an econ text book.
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