NIL is going into effect July 1st in 6 States; NOT Connecticut.

[MSGRET]

Ah, maybe. But I don't know of any law (today) requiring a college student to report income to a college. Some things are private, right? Something about a constitution. But, your idea has merit. Maybe this can mitigate what could become very unseemly. There will be those who cheat, but there has always been those willing to cheat. Look, I don't know the answers, but I do recognize potential problems. Help me folks, Coco had an idea. May be the letter of intent requires a financial NIL disclosure. Any other ideas?

I believe that the student would be considered like an independent contractor and not an employee by the people that are paying them for their name. If this is true, then the people that pay that student must file a Form 1099 with the IRS and give a copy of it to the payee (student). Most likely because of NCAA rules on student athletes the college or university must have some type of reporting system in place to ensure that there is no under the table payments to the athlete. Of course some boosters find ways to get around the rules.

 

[oldude]

Truth in advertising. I am a conservative capitalistic. What you are speculating is innocent and I support everyone including college kids making a buck. What I'm worried about is that there could be a much darker side to NIL. Will a couple of years from now be know as the "age of the innocent"? I am worried that big donor boosters will swoop in and ruin HS and college sports. Combine 1 free transfer and NIL would would you expect to get? Think the worst. It could happen.

Big donor boosters have meddled in college sports for years. So too have shady middlemen, working on behalf of shoe companies, to steer top recruits to schools under contract to a particular shoe/apparel brand by paying off a kid’s family. If anything, NIL will hopefully put everything out in the open.

 

[oldude]

Actually she left Nike and got signed by Puma if I remember correctly. First KLS signed with Puma, then Stewie. There is a thread that is on page 2 of the UConn WBB thread, "Puma - First KLS, now Stewie" posted by @BRS24.

I stand corrected. But to my point. When NIL happens, there will be a shoe company, with pen in hand, looking to get Paige’s signature on a multi year, multimillion dollar contract while she’s still in college.

 

[oldude]

Where did I say college sports would not survive? So you acknowledge it will change college sports; obviously you very much condone cheating if you think college sports will not suffer and use the Olympics, one of the dirtiest of all sporting spectacles, as a comparison.

Where did I quote you saying, “college sports would not survive?” What you said was college sports would be “unrecognizable.” I think college sports will change, but everyone will still be able to recognize it.

Surely you don’t believe that boosters and others involved in college sports today aren’t involved in shady deals, payoffs and other forms of cheating. Suggesting that I condone cheating is nonsense.

I condone college athletes having the right to earn money off their NIL, particularly when big time colleges, universities, HC’s and tv networks make millions off of their talent and effort, while paying them zip.

 

[Skeets]

There might be a law, well sort of- According to the IRS students who are single and earned more than the $12,400 in 2020 are required to file a federal income tax return.

Well, everyone earning above a certain amount has to file with the IRS. These filings are usually private, except in some high profile cases. A student earning more than 12,400? Is this a federal grant requirement for student assistant, or applicable to all students? I suspect merely filing with the IRS might not solve the larger problem.

 

[bluedevil]

Truth in advertising. I am a conservative capitalistic. What you are speculating is innocent and I support everyone including college kids making a buck. What I'm worried about is that there could be a much darker side to NIL. Will a couple of years from now be know as the "age of the innocent"? I am worried that big donor boosters will swoop in and ruin HS and college sports. Combine 1 free transfer and NIL would would you expect to get? Think the worst. It could happen.

I think it has already happened..

 

[Scot-e]

Those states will start getting a lot more kids in the next few years.

 

[oldude]

Those states will start getting a lot more kids in the next few years.

I doubt it. It appears that the NCAA is finally poised to act on NIL before any of the state laws go into effect by creating uniform NIL rules that will govern all NCAA athletes.

 

[cockhrnleghrn]

So what is wrong with big schools having the advantage.? Walmart and Amazon have advantages..I bet you shop with them. The Yankees have big advantages. They haven't won a World Series in 11 years. Big advantages don't alays translate into wins but a 6 pack of vitamin water is $6.49 at Publix and $4.45 at Walmart..

I shop locally owned as much as possible and I haven't set foot in a Wal-Mart in forever, TBH.