SCOTUS Strikes Down Restrictions on Benefits Restrictions in Unanimous Vote

[GSII]

What's better than getting 500k from G Leagie? 500k cash. Tax free.

 

[HoopsAdmin]

Whitehead's brother is in the NFL, which allows some flexibility to roll the dice on Duke and the NIL benefits.

 

[psyclone]

Interesting piece on how a walk-on at Duquesne is trying to get NIL money (1 pizza a week plus a hoodie!).

Also talks about the amount of time spent for managing their social media related to NIL.

https://www.washingtonpost.com/sports/2021/09/07/nil-money-college-athletes-non-stars/

 

[Leesburg Chankenstank III]

Agreed - the power conference schools have always paid their players - they had to hide it to appear legal. This law just allows it to occur in the open. It doesn't mean more money will be spent on the P6 players - it will just be more direct.

However, mid-majors can get in on this as they don't need convoluted means to do so - they can just budget in a a pay plan.

What hasn't been discussed in the tax ramifications. All those under the table benefits were mostly tax free. Now that its codified as "legal" - the IRS will reach out its hand to take a cut. Additionally, this opens the door to athletic scholarships being taxable.

Tax implications is something I didn’t think about. Imagine all the stories that may come out of players not paying their taxes and then possibly missing playing time. There are going to be a lot of vultures getting in on this and ripping kids off.

I’m all for players getting paid but these situations are inevitable. Parents and athletes need to tread very carefully.

Imagine a Headline: “Oduro Suspended for NCAA Tournament. Owes 3 years in back Taxes”

If it can happen to pros or will happen in college.

 

[GMU79]

Tax implications is something I didn’t think about. Imagine all the stories that may come out of players not paying their taxes and then possibly missing playing time. There are going to be a lot of vultures getting in on this and ripping kids off.

I’m all for players getting paid but these situations are inevitable. Parents and athletes need to tread very carefully.

Imagine a Headline: “Oduro Suspended for NCAA Tournament. Owes 3 years in back Taxes”

If it can happen to pros or will happen in college.

Unintended consequences.

 

[GMUgemini]

Tax implications is something I didn’t think about. Imagine all the stories that may come out of players not paying their taxes and then possibly missing playing time. There are going to be a lot of vultures getting in on this and ripping kids off.

I’m all for players getting paid but these situations are inevitable. Parents and athletes need to tread very carefully.

Imagine a Headline: “Oduro Suspended for NCAA Tournament. Owes 3 years in back Taxes”

If it can happen to pros or will happen in college.

What university of Oregon is doing is pretty smart. They set up an institute with faculty from the school of business and the school of journalism to teach classes in self-marketing/brand management. Not sure if personal finance is on the curriculum, but it’s a smart idea.

Cool thing is it looks like the classes are open to all students.

 

[tblack33]

Tax implications is something I didn’t think about. Imagine all the stories that may come out of players not paying their taxes and then possibly missing playing time. There are going to be a lot of vultures getting in on this and ripping kids off.

I’m all for players getting paid but these situations are inevitable. Parents and athletes need to tread very carefully.

Imagine a Headline: “Oduro Suspended for NCAA Tournament. Owes 3 years in back Taxes”

If it can happen to pros or will happen in college.

Or it's an opportunity to provide these college students with some good life lessons on how taxation works and how to properly forecast and save for it. I believe that Mason has retained a firm to help provide education to student athletes on NIL, if taxes aren't a part of their curriculum then it absolutely should be.

 

[gmubrian]

Unintended consequences.

...of taxation...

 

[Quentin Daniels]

https://twitter.com/i/web/status/1467931858528841747

View: https://twitter.com/hornswithheart/status/1467931858528841747