This describes what has happened to college football perfectly.

[SayUWantAreVOLution]

I’m not complaining glad for them. Im saying checks are being written that the NIL alone can’t cover.

I'm unsure what you mean by that. Players are being paid and NIL, rather than the old "handshake envelope" or fabled McD's bag, but it's for the same reason.

Absolutely NO ONE is making the Vol Club/Spyre use NIL to pay players, it's a choice made by UT to get better players.

If you're "morally outraged" that NIL is being "misused," what were you when UT was simply paying players under the table?

 

[Mccage]

I'm unsure what you mean by that. Players are being paid and NIL, rather than the old "handshake envelope" or fabled McD's bag, but it's for the same reason.

Absolutely NO ONE is making the Vol Club/Spyre use NIL to pay players, it's a choice made by UT to get better players.

If you're "morally outraged" that NIL is being "misused," what were you when UT was simply paying players under the table?

Your barking up the wrong tree… I have never been outraged and glad were able to pay players. I donate to the cause!!! I’m simply saying that ALL schools are using NIL to make it legal. If the players were getting paid only for their NIL there would be 95 percent of them making minimum wage or less.

 

[SayUWantAreVOLution]

Your barking up the wrong tree… I have never been outraged and glad were able to pay players. I donate to the cause!!! I’m simply saying that ALL schools are using NIL to make it legal. If the players were getting paid only for their NIL they would be 95 percent of them making minimum wage or less.

Of course the NIL is being used just like the old booster payment system. Who cares how they pay them without calling them employees, just so long as we can recruit and keep them.

I don't care if their NIL is $50k for each card they sign as long as we don't have an issue like the Pruitt craziness. Just buy who we need and play ball. That's the way the SEC has worked for a long, long time and I was fine with it

 

[fossilfiction]

Do you think they make a little more than their actual NIL value? Who’s keeping the books?

It's none of your business what thier finances are, where they come from, or how much they are for. Zero, none, zip. You think because they are college football atheletes you hvae a right to say how they earn and you don't.
The same people watching their checks are the ones watching yours.

 

[ClearwaterVol]

Bless your heart. None so blind as those who will not see. Because coaches,conferences and broadcaster have not turned college football into the absolute free agent disaster it has become. Get ready the worst is yet to come

God forbid these young men earn what the market will support. It is a free market economy and for too long these young men have been well treated slaves.

 

[ClearwaterVol]

These schools need to put out packages showing the true value of what each athlete receives. The idea that they get nothing is what drives me crazy. They get the following which has a high dollar value.

- Free education and tutoring that helps them be successful.
- Free advertising of their skills on one of the largest stages there is.
- Training on how to address the media and how to act as a public figure.
- Free strength and conditioning training
- Networking opportunities that will last a lifetime and allow them to step into doors others cannot.

They get all the exposure without the risk that comes with being "fired" if they don't live up to expectations. They can make small mistakes and survive. Coaches, sports casters, etc. aren't so lucky in that regards.

It is only a matter of time until one of these players with a lot of NIL money, makes a mistake - a mistake that reflects on the company they are associated with. It has happened to professionals - here today, gone tomorrow.

This started out as players just wanting some spending money like other students that work while in school get. It has now led to grown folks keeping track of what a player is worth based on the NIL they get as well as the players themselves wanting to be the one with the most.

At some point their college days will be over and many of them will end up with nothing to show for all this.

Players have been on one year scholarships.
And you act as if getting to play football at the college level is reward enough. For some it is. For others more pay is deserved. Everybody else has been getting rich off these men forever. It's about time it changed


If the market will support more money to the players then so be it.

 

[Mccage]

It's none of your business what thier finances are, where they come from, or how much they are for. Zero, none, zip. You think because they are college football atheletes you hvae a right to say how they earn and you don't.
The same people watching their checks are the ones watching yours.

What the hell you talking about! Are you stupid or something?

 

[utvolpj]

Do you think they make a little more than their actual NIL value? Who’s keeping the books?

No they don't make more than their value. That's not really possible. The IRS keeps the books

 

[Stonewall83]

Because they’re not getting a $200,000 plus education for free . Not to mention the extra benefits, food ,& lodging.

No they are being compensated with money….and they buy their own things.

Having said that I’d have zero problem with scholarships being limited for the heavy NIL hitters.

 

[Go aeiou]

No they don't make more than their value. That's not really possible. The IRS keeps the books

Do you know?
Are they treated as employees of the University? Does the University or other organiztion withhold income and Social Security tax?
Of course any under the table income would need to be reported by the athlete as self employment it seems.

 

[Stonewall83]

NIL doesn’t bother me. People should own the rights to their own image and name. They should be able to represent businesses.

My issue is the portal. The portal is what allows these players to be bought and sold year to year. Penalize the 2nd transfer. 2nd transfer without legitimate hardship is a year of ineligibility.

A vast majority of these guys still want to get to the league as quick as possible. The college athletes making the supposed millions are all future draft picks.

 

[Stonewall83]

Do you know?
Are they treated as employees of the University? Does the University or other organiztion withhold income and Social Security tax?
Of course any under the table income would need to be reported by the athlete as self employment it seems.

Why would they be withholding funds? Do the universities cut the NIL checks now?

 

[utvolpj]

Do you know?
Are they treated as employees of the University? Does the University or other organiztion withhold income and Social Security tax?
Of course any under the table income would need to be reported by the athlete as self employment it seems.

The univ is not involved in their income. That's how NIL works

 

[Go aeiou]

The univ is not involved in their income. That's how NIL works

So, are they treated as self employed?

 

[fossilfiction]

What the hell you talking about! Are you stupid or something?

No but you seem hyper-sensitive and immediately went on the attack, so I will try to be nice to keep you from feeling insulted today.
You think that these players should have someone check on their NIL deals. To which I say, that's ********. You have zero right to keep their earning rights in check in any shape form or fashion.

 

[Go aeiou]

Why would they be withholding funds? Do the universities cut the NIL checks now?

I'm asking questions because I don't know how this( NIL, payments) works.
Sounds like the athletes are self employed.

 

[fossilfiction]

No they don't make more than their value. That's not really possible. The IRS keeps the books

This

The athlete
The organzations they have deals with
Their accounts/agents
The IRS

Nobody else should be keeping anything in check on them. The NCAA can check in on schools but the NIL arrangments are private to everyone except those listed above.

 

[SayUWantAreVOLution]

I'm asking questions because I don't know how this( NIL, payments) works.
Sounds like the athletes are self employed.

The athletes making money from NIL are probably handling money in various ways. Those making millions, for instance Arch Manning, are sometimes funneling some of the money to charity, which helps their taxes. I'd be extremely surprised if Arch wasn't letting Cooper handle keeping things straight. He's lucky.

The schools counsel the guys on what NIL will do to their taxes. I doubt they give specific advice as the UT itself but they probably have some extremely wealthy donors who know some very good tax accountants who'd love a little swag in exchange for monitoring what really isn't a helluva lot of money in the scheme of things.

Some of them probably have established a "NIL business" of some kind to handle the money.

Some are probably going to get a tax bill personally and listen to no one who tries to help. The IRS isn't going to "go ham" on a few guys getting a few thousand dollars.

The bottom line: if they're getting "Nico money" someone from the NIL is likely putting them in touch with good financial advice. If they're just getting $50k or something, meh..... the IRS isn't going to do much but send bills and, if needed, garnish income.

People act like these kids suddenly have Warren Buffett tax bills and complex P&L and Capital Gains from worldwide investments.

It's a few thousand, maybe a few hundred thousand. In the real world of tax issues, those are minnows.

 

[fossilfiction]

I'm asking questions because I don't know how this( NIL, payments) works.
Sounds like the athletes are self employed.

It wildly varies. In some cases, it's can just be their social media. The atheletes without mega deals with business and organziations; they can now do simple things like, have a gaming channel where they can now earn a little money. They couldn't even do that before NIL. Selling their signature, personal gear, appearances, all that stuff was off limits to them before.

 

[Go aeiou]

The athletes making money from NIL are probably handling money in various ways. Those making millions, for instance Arch Manning, are sometimes funneling some of the money to charity, which helps their taxes. I'd be extremely surprised if Arch wasn't letting Cooper handle keeping things straight. He's lucky.

The schools counsel the guys on what NIL will do to their taxes. I doubt they give specific advice as the UT itself but they probably have some extremely wealthy donors who know some very good tax accountants who'd love a little swag in exchange for monitoring what really isn't a helluva lot of money in the scheme of things.

Some of them probably have established a "NIL business" of some kind to handle the money.

Some are probably going to get a tax bill personally and listen to no one who tries to help. The IRS isn't going to "go ham" on a few guys getting a few thousand dollars.

The bottom line: if they're getting "Nico money" someone from the NIL is likely putting them in touch with good financial advice. If they're just getting $50k or something, meh..... the IRS isn't going to do much but send bills and, if needed, garnish income.

People act like these kids suddenly have Warren Buffett tax bills and complex P&L and Capital Gains from worldwide investments.

It's a few thousand, maybe a few hundred thousand. In the real world of tax issues, those are minnows.

I don't see the IRS sending tax bills.
What might happen?
NIL sends check for $50,000 to athlete.
End of year NIL sends the athlete a 1099 for non employee compensation $50,000. The IRS gets a copy of that form.
If no return or a return without the NIL money is filed by the athlete the IRS might send a letter wanting to know why.
As the amount increases the likelyhood of a letter for non reporting goes up.
Yeah, $50k is peanuts these days.


Hopefully the athletes are getting some guidence about taxes from someone.

 

[SayUWantAreVOLution]

I don't see the IRS sending tax bills.
What might happen?
NIL sends check for $50,000 to athlete.
End of year NIL sends the athlete a 1099 for non employee compensation $50,000. The IRS gets a copy of that form.
If no return or a return without the NIL money is filed by the athlete the IRS might send a letter wanting to know why.
As the amount increases the likelyhood of a letter for non reporting goes up.
Yeah, $50k is peanuts these days.


Hopefully the athletes are getting some guidence about taxes from someone.

The school supposedly gives some information via meetings with players. Like lots of things, young people listen at varying levels but that's true of adults too with taxes.

I think a lot of the "what about taxes" (not your question, but some I've seen on VN) are just sour grapes from people who resent NIL. Of course some players have been paid under the table for generations, but out in the open it seems some people are resentful.

This is not a lot of money changing hands to the IRS. Certainly the collectives don't want IRS issues because of bad publicity for the schools and will do everything they can to let the players know "you're going to get a 1099 and need to file this year and we know a guy....."

Overall, though, it's sad to see people on VN who resent anyone making money legally, even if it is "sham payment" for athletic performance. I'm never opposed to anything that sends the message to young people that time in the gym, time in practice, time listening to coaches can pay off a little even if you never get to the league. Hard work paying off is a good thing.

 

[ClearwaterVol]

Now VN is concerned about how the players pay their taxes? Good grief. Who cares? None of our damn business.

 

[LAVol1]

It's unconstitutional to deny people the right to make money off their NIL, period. Just because they are in college doesn't mean they shouldn't off their NIL.

You can make money off your NIL, except for your lack of skills to do so. That's the only difference between you and them.

I think the issue is that players aren't getting money due to their NIL, they are getting paid to play. If the money was due to NIL, I doubt there is any way to justify paying a kid $8M. Can't auction off enough helmets and jerseys to recoup the $8M investment.

 

[LAVol1]

Overall, though, it's sad to see people on VN who resent anyone making money legally, even if it is "sham payment" for athletic performance. I'm never opposed to anything that sends the message to young people that time in the gym, time in practice, time listening to coaches can pay off a little even if you never get to the league. Hard work paying off is a good thing.

Have you not seen how being a former player for a major university has provided opportunities that a regular student does not receive? I am friends with several former college athletes and without question their financial situation was dramatically improved because of their athletic career.

The discipline and work it takes to be a real college student-athlete prepares them for the real world. When my son was playing baseball, he called in Feb. of his freshman year and said, "Dad, I'm worn out. I've got about an hour a day that I don't have something I have to do." I smiled to myself and thought, "the world is going to be much easier on you after you get out of college." When he graduated, he was working close to 70 hrs. per week and didn't feel over-worked. 12 years later, he bought the company he worked for and it's growing faster than he ever imagined. On average, he's now working less than 40 hrs. per week. It wasn't just his college education that made him successful. It was the work ethic and time management skills he developed as a student-athlete that really did it for him. NIL money would not have contributed to his success.

 

[SayUWantAreVOLution]

Have you not seen how being a former player for a major university has provided opportunities that a regular student does not receive? I am friends with several former college athletes and without question their financial situation was dramatically improved because of their athletic career.

The discipline and work it takes to be a real college student-athlete prepares them for the real world. When my son was playing baseball, he called in Feb. of his freshman year and said, "Dad, I'm worn out. I've got about an hour a day that I don't have something I have to do." I smiled to myself and thought, "the world is going to be much easier on you after you get out of college." When he graduated, he was working close to 70 hrs. per week and didn't feel over-worked. 12 years later, he bought the company he worked for and it's growing faster than he ever imagined. On average, he's now working less than 40 hrs. per week. It wasn't just his college education that made him successful. It was the work ethic and time management skills he developed as a student-athlete that really did it for him. NIL money would not have contributed to his success.

Certainly. I've been saying all along the sadness of what's coming in college is employee status and many schools dropping many programs.

Much, much, much more is gained than money or even education by being a college athlete.

That said, NIL was essentially court ordered. The NCAA fought "educational compensation limits" all the way to the SCOTUS and lost and saw that NIL was going to be a loser for them also and changed their policy. The same was true of multi transfer eligibility. The NCAA waived it "temporarily" while the Federal Court put a stay on them trying to enforce the "sitting out a year" rule.

This is how it is. Good or bad. The NCAA fought legally and is losing.

I'm happy athletes have succeeded and gained contacts and self-confidence and grit from their athletic experiences. I'm glad your kid and many I've known got "perks" from the experience.

I'm not happy this is likely ending but it's not NIL or the portal that's causing this.

Many years ago some of the NCAA schools decided to create an enormous business out of football and basketball. This business created a situation where teams needed to be better and drove up the market value of some players BEYOND the experience, scholarship, contacts, etc and boosters paid them. That's just the way it happened. Create a business and good employees will have value in that industry.

Because this is an enormous, interstate business, it's being seen as in violation of Antitrust Law because schools have AGREED not to compensate players at market value. You can argue the scholarship, contacts, experience, even NIL is enough ..... the NCAA did and lost in the courts.

This is where it is. Lots and lots and lots of kids aren't going to be as blessed as your son and athletes we've known, but it's the creation of college athletics as big business that caused this.