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Topic: 2022 Worthless Recruiting Thread

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Mdot21

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Re: 2022 Worthless Recruiting Thread
« Reply #448 on: February 07, 2022, 08:51:40 AM »
At minimum, I think every NIL deal should be made public, team by team.
I think that's a great idea. every NIL deal involving an NCAA athlete should have to registered with some sort of agency. 

I think NCAA needs to set up an NIL compliance agency if it hasn't already - and that every school should have an NIL compliance office on campus - and that every NIL deal has to be registered. Ones that aren't - players should lose eligibility and businesses that fail to register should be fined/prohibited from access to an NCAA-NIL system.

Just call it NCAA-NIL. Every business and student athlete who partakes in NIL registers, and every deal is recorded - and everything is above board.

Cincydawg

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Re: 2022 Worthless Recruiting Thread
« Reply #449 on: February 07, 2022, 09:08:34 AM »
We could at least see if any one program was way over the top on this.  And of course folks would still cheat and not fess up.

MrNubbz

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Re: 2022 Worthless Recruiting Thread
« Reply #450 on: February 07, 2022, 09:10:20 AM »

https://mobile.twitter.com/espncfb/status/1488996750392279042?s=21

CHurchill was quoted something like "if Herr Hitler invaded hell I shall give favorable reference to the Devil" or sumsuch.Looking at Jumbo's picture that how most fans will feel. Getting cocky because his backers bought those pieces for him like a spoiled brat. At least Nick Satan,URBZ and Dabo got their enemies by conquest
I’ve reached that age where my mind goes from “You probably shouldn’t say that.” To “What the hell, let’s see what happens.”

FearlessF

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Re: 2022 Worthless Recruiting Thread
« Reply #451 on: February 07, 2022, 01:33:25 PM »
I think that's a great idea. every NIL deal involving an NCAA athlete should have to registered with some sort of agency.

I think NCAA needs to set up an NIL compliance agency if it hasn't already - and that every school should have an NIL compliance office on campus - and that every NIL deal has to be registered. Ones that aren't - players should lose eligibility and businesses that fail to register should be fined/prohibited from access to an NCAA-NIL system.

Just call it NCAA-NIL. Every business and student athlete who partakes in NIL registers, and every deal is recorded - and everything is above board.
the IRS is interested
it's tax season!
Is the money paid to a player 80% deductible like a donation to the athletic or academic department?

the student athlete is certainly required to report the income 
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

Gigem

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Re: 2022 Worthless Recruiting Thread
« Reply #452 on: February 07, 2022, 01:51:00 PM »
I think that's a great idea. every NIL deal involving an NCAA athlete should have to registered with some sort of agency.

I think NCAA needs to set up an NIL compliance agency if it hasn't already - and that every school should have an NIL compliance office on campus - and that every NIL deal has to be registered. Ones that aren't - players should lose eligibility and businesses that fail to register should be fined/prohibited from access to an NCAA-NIL system.

Just call it NCAA-NIL. Every business and student athlete who partakes in NIL registers, and every deal is recorded - and everything is above board.
It was a state driven initiative.  Certain states, I think California kinda opened the flood gates, made it legal for players to get paid via NIL.  The NCAA had to give in because their rules don't trump state laws.  Once they allowed in in Cally it had to be allowed everywhere and other states soon followed suit.  

Who really cares anymore?  If people want to spend their money this way it should be between the player and the entity.  Just like the coaches were out getting NIL deals (Bob Stoops comes to mind among others) why should it really involve the NCAA or University unless it's one of the no-no categories like gambling or some such?  


FearlessF

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Re: 2022 Worthless Recruiting Thread
« Reply #453 on: February 07, 2022, 03:38:16 PM »
can we habe private entities pay the coaching staff directly as well?

As opposed to indirectly through donations

or would that not be tax deductible?
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

Cincydawg

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Re: 2022 Worthless Recruiting Thread
« Reply #454 on: February 08, 2022, 04:18:15 AM »
If some company pays for something like NIL, it's a business expense, entirely deductable with few exceptions (usually involving capital equipment, and that just delays it).

NIL payments to athletes should get reported to the IRS and be taxable earned income.  The same would be true for me if they use my NIL to sell a product (ha).


Riffraft

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Re: 2022 Worthless Recruiting Thread
« Reply #455 on: February 08, 2022, 01:02:55 PM »
If some company pays for something like NIL, it's a business expense, entirely deductable with few exceptions (usually involving capital equipment, and that just delays it).

NIL payments to athletes should get reported to the IRS and be taxable earned income.  The same would be true for me if they use my NIL to sell a product (ha).


Bigger problem, they are probably 1099 contract employees, so no taxes taken out and player responsible for Fed, State, FICA, Medicare taxes with nothing withheld. 

I imagine we are going to see a fair number of kids with tax problems because they didn't know how to handle it and spent it all.  I am thinking the ones with like $50K NIL vs ones with $1M NIL.  Figuring the ones with $1m will have some help or at least didn't spend every penny. 

MrNubbz

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Re: 2022 Worthless Recruiting Thread
« Reply #456 on: February 08, 2022, 01:26:04 PM »
the student athlete is certainly required to report the income
This is interesting,what'll be the penalty if one of these fine student-athlete's don't report? Should be treated the same IMO as not going to class,failing grades or any other violation of the rules.There definitely should be reprisals,no pay tax ,no play,no play,no meet or make  performance stipulations
I’ve reached that age where my mind goes from “You probably shouldn’t say that.” To “What the hell, let’s see what happens.”

betarhoalphadelta

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Re: 2022 Worthless Recruiting Thread
« Reply #457 on: February 08, 2022, 02:00:51 PM »
This is interesting,what'll be the penalty if one of these fine student-athlete's don't report? Should be treated the same IMO as not going to class,failing grades or any other violation of the rules.There definitely should be reprisals,no pay tax ,no play,no play,no meet or make  performance stipulations
Eh. It's not an NCAA matter if they pay their taxes. That's for the IRS to handle...

...and their penalties are far more of a threat than anything the NCAA could do.

utee94

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Re: 2022 Worthless Recruiting Thread
« Reply #458 on: February 08, 2022, 02:53:31 PM »
This is interesting,what'll be the penalty if one of these fine student-athlete's don't report? Should be treated the same IMO as not going to class,failing grades or any other violation of the rules.There definitely should be reprisals,no pay tax ,no play,no play,no meet or make  performance stipulations
Why would the school penalize itself and lose the use of those players, by punishing them as if it were a team violation?

You seem to think the schools are somehow against this-- they're not.  If it can get better players onto the roster, they're all for it.  Even moreso if they can close their eyes, wipe their hands, and not pay any attention to the nuts and bolts of it.

MrNubbz

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Re: 2022 Worthless Recruiting Thread
« Reply #459 on: February 08, 2022, 07:07:04 PM »
No kidding the school would like it until it shines a bad light on them or the process.That wouldn't fall under the guise of improper benefits?Cause you know it's gonna happen unless the feds take their cut right off the top
I’ve reached that age where my mind goes from “You probably shouldn’t say that.” To “What the hell, let’s see what happens.”

 

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