NIL, Improbably, but possible, end game

[TCC Kid]

With Paige getting, as stated elsewhere in the BY, 900,000 last year, predicted over 1.2 million. Azzi, about 400,000 last year, more this year. When does Uconn begin charging them Tuition? The second half of that is: How will these kids feel when a large chunk of NIL is gone with taxes? You are right, I have nothing better to do than ponder the improbable.

 

[Stymie]

Paying taxes is just part of their continuing education.

 

[AmeriConn]

Paying taxes is just part of their continuing education.

Oh, I didn’t think they had to pay “nil”, zero, zilch in taxes.

 

[LoboDays]

And we still have over 2 months to go before the season starts.

 

[Huskee11]

In the unlikely event that some or all of Paige, Aaliyah and Nika all return for a fifth season in 2024-2025, it is conceivable that UConn would be bumping up against the fifteen scholarship limit. 3 in that class, 3 in the next (Azzi, Amari, Caroline), 2 in the next (Ice, Ayanna), and 3 (and possibly more) in the next (KK, Ashlynn, Qadence).

No commitments thus far for the class after that, 2024, but that class appears to be loaded (Strong, Olson, Berry, Ziebell, Koval, etc.). Plus the portal, which giveth and taketh away.

Again, unlikely. But their newfound wealth might prove to be a "safety valve" if we go big in the 2024 class and run into a numbers game.

 

[JonathanXIV]

The meaningful restriction is not 15 scholarships, it's that only 5 can play at a time.

 

[GEAinAustin]

NIL endorsements do not disappear once you turn pro, in fact quite the opposite. The minute Paige declares for the draft, Nike has a 50 million$ contract on the table over 10 years, plus a % of the sales. Money would be no motivating factor to stay at U Conn or elsewhere

 

[Bone Dog]

I say more power to all the kids. I don't want to return to the old days when students were not allowed to earn money off their own property and effort.

 

[GEAinAustin]

I never mentioned taxes in my statement about earnings. The fact that Texas has no state income tax has nothing to do with anything. The usual bite on entertainment and athletic contracts is about 50%, after agency commissions, taxes and expenses. Your statement " how would these kids feel when a large chunk of NIL is gone to taxes ? " Why would they care ? It is all found money !

 

[Stymie]

NIL endorsements do not disappear once you turn pro, in fact quite the opposite. The minute Paige declares for the draft, Nike has a 50 million$ contract on the table over 10 years, plus a % of the sales. Money would be no motivating factor to stay at U Conn or elsewhere

If this is true- Paige should declare for the draft IMMEDIATELY.
Another knee would seriously jeopardize her basketball future.

 

[GEAinAustin]

That is the same for most high level players. Paige is unique because of her marketability and followers to her social platform. She will return for her senior season for a national championship and acquire additional endorsements. She also is being represented by some of the best in the industry.

 

[TC22]

If this is true- Paige should declare for the draft IMMEDIATELY.
Another knee would seriously jeopardize her basketball future.

I agree.

 

[topogigio]

Looks like the "social media" blackout while playing WBB at UCONN has come to a total end. I'm not sure if this is a good thing. Yeah, I know that social media is a lifeline for today's youth, and the I-phone is seen as nothing more than another appendage part the body. Me thinks too many distractions, and huge potential for mental health issues. I realize that it is" just the way it is today", and I'm too old, but I firmly believe that much of the social and emotional ills of young people today is a direct result of impact on social media. Can't wait for replies!

 

[Jim]

If this is true- Paige should declare for the draft IMMEDIATELY.
Another knee would seriously jeopardize her basketball future.

Most high-level athletes projected to go pro in their sports have insurance policies which pay out millions if their careers are cut short by injury. Premiums can surely be expensive, so only projected first round draft picks usually get them. But someone like Paige almost assuredly has her financial future secured.

 

[hoopsfan22]

Looks like the "social media" blackout while playing WBB at UCONN has come to a total end. I'm not sure if this is a good thing. Yeah, I know that social media is a lifeline for today's youth, and the I-phone is seen as nothing more than another appendage part the body. Me thinks too many distractions, and huge potential for mental health issues. I realize that it is" just the way it is today", and I'm too old, but I firmly believe that much of the social and emotional ills of young people today is a direct result of impact on social media. Can't wait for replies!

There was never a social media blackout.

 

[cferraro04]

I got NIL...that would be nil...nothing~ lol

 

[visitingcock]

With Paige getting, as stated elsewhere in the BY, 900,000 last year, predicted over 1.2 million. Azzi, about 400,000 last year, more this year. When does Uconn begin charging them Tuition? The second half of that is: How will these kids feel when a large chunk of NIL is gone with taxes? You are right, I have nothing better to do than ponder the improbable.

I wonder if schools are preparing players for tax time with advice on deductible expenditures, self-employment taxes, etc. etc. Kids could take a beating if they file 1040 EZ's like most college kids. - if the even can.

 

[Stymie]

Uh…
How about parents contributing to their students non classroom education?
On a related subject, I understand the University of South Carolina has introduced some sort of on campus, school sanctioned NIL office to assist student athletes navigate the situation.

 

[Stinger92860]

Uh…
How about parents contributing to their students non classroom education?
On a related subject, I understand the University of South Carolina has introduced some sort of on campus, school sanctioned NIL office to assist student athletes navigate the situation.

Some of the players parents may not be equipped to provide that guidance, for example the parents of foreign players. Other players can also come from difficult backgrounds and need some guidance. Every school, should help the kids through this.

 

[Stymie]

These benefactors can direct some of their income toward securing either an accountant or a tax preparer.
I’m sure there are many area professionals or alumni that would be willing to assist them.
Geez..education, meals , medical and tax preparation?
Anything else?

 

[TC22]

Cant speak for all schools but at SC all athletes are required to go thru NIL “training?”. Not sure what they call it but it is a requirement. Of course the athletes have to get their taxes done but they are at least educated on what they should do.

 

[GEAinAustin]

That is why players hire agencies that handle all phases, marketing, trademarks, investments, legal and accounting. For instance the agency Bueckers hired offers all these services as well as negotiating endorsements , for 10% of gross revenue.

 

[TC22]

That is why players hire agencies that handle all phases, marketing, trademarks, investments, legal and accounting. For instance the agency Bueckers hired offers all these services as well as negotiating endorsements , for 10% of gross revenue.

You Think every athlete playing an NCAA sport has an agent?

 

[GEAinAustin]

U Conn has a program and advisers to assist with the NIL. Players with serious earning potential have agents, so no I don't think every athlete playing an NCAA sport has an agent. I obviously need to be more specific .

 

[Stymie]

Weird situation.
Used to be that once you signed with an Agent, you were ineligible to play in an NCAA game.
Is there a provision that now differentiates between an Agent and a financial advisor?
Or are Agents now allowed only to negotiate NIL deals and not allowed to negotiate professional sport team contracts.
Is there an honor system that separates the two (HaHaHa)?
Getting a little murky to me.