Would student athletes be responsible for reporting the income or would the schools AD hire accountants and attorneys, with schools giving W2's or 1099's at the end of the year? Lol
I'm not so sure this is a good thing, a lot of ways for things to go terribly wrong. All of a sudden hundreds if not thousands of star student athletes (18, 19, and 20 year olds) across the country start seeing money falling into their laps. Won't they need the guidance and oversight to manage it, and not mismanage it? What about the rank and file athletes who get nothing, would that breed jealousy amongst players on the same team? The AD's also will have fun trying to keep the heads of these star athletes screwed on straight, and to keep them from flunking out. What about a hugely heralded recruit who starts his freshman year and immediately starts pressuring his coach for a NIL contract? On balance it's a good thing but if not handled right it could be a huge disaster for college athletics. The likely hood of mch's is off the charts, I can see the first UConn star athletes being approached to promote gambling at Foxwoods and the Mohegan Sun. Then you're going to have smarmy attorneys trying to unionize the whole thing across the country. What about unscrupulous agents taking advantage of these kids? Would agents even be allowed by the NCAA, or would it be up to the schools to manage these kids, and all the while try and get them to graduate. It's a can of worms, and all in the name of education. Lol