Marcus Jones needs Jimmy John’s NIL Now… Dude’s Freaky Fast!
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I’m quite certain the IRS position is once they start getting paid, they are professional.
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I have no problem with it, great example of the free market. I didn’t even know who this Built company was (they look pretty dang good!) so they already have more exposure from it. Apparently they are quite successful though with over $100 million in revenue yearly. This is a new innovative way to market your company. The amount of exposure and visibility they get from this might be more than throwing a million into traditional tv/online ads.
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But by allowing funding of scholarships for all walk-ons, you have eliminated the scholarship limit. this is just the beginning…
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So? Go ahead and elaborate.
Golden nuggets running backs. Landrys wide receivers.
Houston Rockets Toyota linebackers. What else? Ferrtida enterprises qbs and lineman.
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NIL funds = income; not student aid. Kids who earn income, will be required to file a tax return. That will be interesting.
NIL right now is wild west. No rules or procedures. There will be kids who will get caught up in IRS problem. Schools will not help them out because NIL funds will come from private sources, not the schools.
In essence, the kids who receive income via NIL funds will be treated by the IRS as semi-professional players because they are receiving funds to play a sport for a particular school. That’s a job.
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If I have to pay taxes on my income then they do too… Sorry fellas… Welcome to the working world.
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Focus all the NIL on linemen first. We can usually find good skill players.
However, you have to wait until they get on campus or commit because NIL deals cannot be in exchange for athletic performance or attendance at a school.
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I think Surly Horns (the new iteration of Shaggy bevo) pooled some money to form Burnt Ends, which was NIL money for the TE group.
https://www.on3.com/news/texas-tight-ends-nil-program-burnt-ends-surly-horns/
I wouldn’t boo a college player. But then again I think you’re still a child when you’re 24.
But the rule is not for the play but for the name, image and likeness. This is their ability to yes get paid because they are a Manning, but also be able to book themselves as a country western singer under their own name because ncaa rules forbid that from happening. Or for a volleyball player to continue to run her YouTube channel about doing makeup that she started in 7th grade.
A college student getting hired at the business school to answer phones because he is a business major does not make him a semi professional businessman.
The rules were so strict and held onto forever and schools took advantage of the student athletes name, image and likeness for so long that we get everything we deserve.
Seriously, a singer on the Marshall football team could not book his band under his name. Where is the fairness in that? Any other student on any other scholarship can do it.
I’m having trouble getting my head around how all this works. Let’s say UH offers a scholarship to a 4 star player, and he commits… Ok, awesome. Then his first year he signs a deal with Cream Burger for $100k to say the burgers are good. Meanwhile Cougar Pride is asking a bunch of young alumni who make like $62k a year to donate what they can, in part to pay aforementioned players scholarship.
Something seems out of balance about that.
Or are we a few years away from calling a spade a spade, not worrying about paying scholarships for pro athletes and shifting those funds to olympic sports?
Or am I making this into something its not and can’t become?
You’re arguing age and fairness. Who cares? Certainly not the taxing authorities. Suggest you look up the legal definition of “income.” You may be surprised.
They will pay taxes. They won’t be pro athletes. You said they would be semi pro athletes. They will still be amateur athletes. They have a side hustle.
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if this is true, then Alabama can see who the best NCAA players are and go and offer to pay them.
So what is the problem?
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The problem is you don’t care. You’re not making honest inquiries. All you want to do is argue for argument’s sake. That’s why I called you out on the satellite.
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