And here we go.... | Page 5 | The Boneyard

And here we go....

Exit 4 said:
Letting the kids earn a living however they can is the way it should be. Unintended consequences be damned. There is no other way forward.

I really don't think it will change things too much...except when the occasional billionaire steps up and showers a program with money...but then that program has to go win and that still wont be easy.

I think the landscape still has a chance to play out like the MLB. Some loaded teams will still underperform and there will still be some upstarts....just fewer. The ugly part might come when the upstarts have a lot of one and done kids moving up to the next cash level (ie G5 to P5) after break out seasons. But to move a player up, another player has to move down. Anyway- the horse is coming out of the barn this month....and never going back.
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Earn a living LOL!
 
College sports were my last stop. This may completely end my interest in sports. I am rethinking getting football season tickets again. I really have no interest in the madness this will create.
 
billybud said:
Texas Longhorn Foundation received $168 million

Alabama received $70 million from boosters

2019-20 giving year
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Not to put words in his mouth but I think he means that Saban stayed at Bama because of the TX boosters.

At Bama Saban knows he can run the show with a free hand. The TX boosters would have paid him more but would expect to be consulted on major program moves. Saban does not want or need that at this point in his life.
 
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John Greene said:
Not to put words in his mouth but I think he means that Saban stayed at Bama because of the TX boosters.

At Bama Saban knows he can run the show with a free hand. The TX boosters would have paid him more but would expect to be consulted on major program moves. Saban does not want of need that at this point in his life.
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Sure...Saban and Jimbo want free hands....both have huge donor bases but demand control...
 
billybud said:
Sure...Saban and Jimbo want free hands....both have huge donor bases but demand control...
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The difference is that Saban has it and Fisher does not, as will be proven in the next two years.
 
Pinnacle said:
College sports were my last stop. This may completely end my interest in sports. I am rethinking getting football season tickets again. I really have no interest in the madness this will create.
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I have become a much bigger fan of HS sports and it's much more enjoyable. Although HS sports took over time I would have spent on pro sports more than college.
Other than Thursday night or Sunday night football I rarely watch any pro sports.
 
Butch said:
Just spoil the athletes more... On the bright side, the NFL respects UConn for not producing primadonnas. So far.
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Yeah, that’s the ticket. Tell them they can flunk all their courses and still get paid for playing ball.
 
billybud said:
yikes...a basketball coach with his ears to the ground tells us that he knows a high school kid with a 7 figure offer...OMG...nice find..and a shock..
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It sure it is a shock at all. I think this stuff is temporary but if not, it will actually kill college sports. When it becomes professional, over the long term it will become the Yardgoats. People care but not that much.
 
UConnSportsGuy said:
If I weren't so lazy, I'd set up a service/company to handle all of these kids taxes that they now need to worry about reporting to the IRS with all of these NIL/endorsement deals. Half of the NCAA players are going to be under IRS audit in 3 years :)
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www.sportico.com

College Athletes and Their Sponsors Face Tax Reality of NIL

Any amount of money is better than no money, but NIL earnings for athletes will come with tax consequences. We illustrate them on Sportico.
www.sportico.com www.sportico.com

Sportico’s McCann and Raiola lay out six scenarios illustrating potential tax implications student-athletes earning compensation via their NIL could face. Of note, the scenarios assume student-athletes are paid as independent contractors via a Form 1099 instead of a W2. Athletes with a $100K endorsement deal would end up with net income of $72,400 if they reside in Florida versus net income of $67,180 in California; the gap in take-home earnings narrow as the value of the deal decreases, until athletes in Florida and California pay the same amount in taxes for a $1,000 deal. Key takeaways: modest earnings won’t trigger state income taxes (although small deals would still incur federal taxes) and programs in the nine states without income tax could use that as a recruiting advantage.
 
huskymedic said:
www.sportico.com

College Athletes and Their Sponsors Face Tax Reality of NIL

Any amount of money is better than no money, but NIL earnings for athletes will come with tax consequences. We illustrate them on Sportico.
www.sportico.com www.sportico.com

Sportico’s McCann and Raiola lay out six scenarios illustrating potential tax implications student-athletes earning compensation via their NIL could face. Of note, the scenarios assume student-athletes are paid as independent contractors via a Form 1099 instead of a W2. Athletes with a $100K endorsement deal would end up with net income of $72,400 if they reside in Florida versus net income of $67,180 in California; the gap in take-home earnings narrow as the value of the deal decreases, until athletes in Florida and California pay the same amount in taxes for a $1,000 deal. Key takeaways: modest earnings won’t trigger state income taxes (although small deals would still incur federal taxes) and programs in the nine states without income tax could use that as a recruiting advantage.
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But that is the case with anyone earning income, especially 1099 income. Typically it is taxed where it is earned. What will be interesting is if some state with an income tax decides to tax income earned by players from another without one for games played in the tax state. If I understand it correctly that happens in professional sports. Now this might be different since the player might argue he isn’t being paid for play, but I suspect it will happen.
 
freescooter said:
But that is the case with anyone earning income, especially 1099 income. Typically it is taxed where it is earned. What will be interesting is if some state with an income tax decides to tax income earned by players from another without one for games played in the tax state. If I understand it correctly that happens in professional sports. Now this might be different since the player might argue he isn’t being paid for play, but I suspect it will happen.
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We really don't want to be the State that does this.
 
billybud said:
Each of the 90 existing Miami scholarship players will be offered a $500 a month contract (up to $6000 for a year) to endorse American Top Team through their social media accounts, personal appearances and other marketing vehicles. If all 90 players opt to accept a deal, the total American Top Team investment in year one could reach $540,000.

The deal is being administered by a new marketing company - "Bring Back The U" - which was created by South Florida businessman Dan Lambert, who founded American Top Team and is a longtime Golden Cane and member at CaneSport.com.

Lambert also hopes to recruit other businesses to offer similar NIL deals to Hurricane players this year and in the future.
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Do they still have to go to class, read books, and go to science lab?
 
freescooter said:
But that is the case with anyone earning income, especially 1099 income. Typically it is taxed where it is earned. What will be interesting is if some state with an income tax decides to tax income earned by players from another without one for games played in the tax state. If I understand it correctly that happens in professional sports. Now this might be different since the player might argue he isn’t being paid for play, but I suspect it will happen.
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Jimdish255 said:
We really don't want to be the State that does this.
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For most athletes it will be a 2-3 minute inconvenience on their federal taxes. A state can only tax you on the portions n of the income you earn in that state.

So, if a kid makes $24k and plays 1 of their 12 games in CT it's only 1/12 of their pay which gets taxed- $2k.

And this should only matter if the player earns income directly from the school. Endorsements can be different.

I have to do the same with my work. I live in a state with no income tax but if I travel to other states I have to show a change in work location on our labor charging system. If I go over a certain income threshold or days of work threshold, I'll get hit for state taxes. My company fully pays my taxes as a separate pay stub and I have to file state taxes for that state or states at end of year.


The difference for NIL is if say a Florida kid on UConn ends up with a deal for a car dealership in Miami. Is income considered earned in Florida because of location of dealership or is it earned in CT because the deal was based on kid playing football in CT. I'm sure this is an easy tax question, I just don't know the answer.
 
Chin Diesel said:
For most athletes it will be a 2-3 minute inconvenience on their federal taxes. A state can only tax you on the portions n of the income you earn in that state.

So, if a kid makes $24k and plays 1 of their 12 games in CT it's only 1/12 of their pay which gets taxed- $2k.

And this should only matter if the player earns income directly from the school. Endorsements can be different.

I have to do the same with my work. I live in a state with no income tax but if I travel to other states I have to show a change in work location on our labor charging system. If I go over a certain income threshold or days of work threshold, I'll get hit for state taxes. My company fully pays my taxes as a separate pay stub and I have to file state taxes for that state or states at end of year.


The difference for NIL is if say a Florida kid on UConn ends up with a deal for a car dealership in Miami. Is income considered earned in Florida because of location of dealership or is it earned in CT because the deal was based on kid playing football in CT. I'm sure this is an easy tax question, I just don't know the answer.
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If student athletes can get taxed for earning regular pay for playing football, then I think it might be only a matter of time before the Government looks at taxing their scholarships, and so viewing them as taxable gifts.
 
noeynox said:
Good for him. Gets to put some cash in his pocket. If he flames out or seriously injured, at least he got some $$$.
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I'm all for kids getting paid but this kid hasn't proven anything yet. He's a top rated QB and is getting this kind of money because he's playing at Alabama. If anyone wants a prime example of how this is going to have a big effect, here you go.

Saban even says:

Our quarterback [Bryce Young] already has approached ungodly numbers. I’m not going to say what they are. He hasn’t even played yet. He hasn’t been a starter. If I told you what he’s … it’s almost 7-figures. And it’s like the guy hasn’t even played yet. That’s because of our program.
 
UCFBfan said:
I'm all for kids getting paid but this kid hasn't proven anything yet. He's a top rated QB and is getting this kind of money because he's playing at Alabama. If anyone wants a prime example of how this is going to have a big effect, here you go.

Saban even says:

Our quarterback [Bryce Young] already has approached ungodly numbers. I’m not going to say what they are. He hasn’t even played yet. He hasn’t been a starter. If I told you what he’s … it’s almost 7-figures. And it’s like the guy hasn’t even played yet. That’s because of our program.
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Again. Good for him. Alabama has been cashing in off of 5 star players for ever now. Now some 5 star kids will cash in off of Alabama. Sounds fair to me.
 
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