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NIL Crash
Posted on 1/21/24 at 12:11 pm
Posted on 1/21/24 at 12:11 pm
How can boosters afford to pay millions a year and get no return? There's no way they can write the NIL money off as a business expense and if they do, the IRS should audit all there asses. Audit the players too lol
7
Posted on 1/21/24 at 12:18 pm to MontyFranklyn
It’s coming. Tax issues and lawsuits when a players NIL is cut because he becomes a discipline problem.
Posted on 1/21/24 at 12:20 pm to MontyFranklyn
quote:
How can boosters afford to pay millions a year and get no return?
People with net worths in the billions don't expect to see a return on the money they spend on hobbies.
Posted on 1/21/24 at 1:02 pm to MontyFranklyn
Yes they can write it off as advertising as long as the player mentions their product.
Posted on 1/21/24 at 1:45 pm to MontyFranklyn
quote:
How can boosters afford to pay millions a year and get no return? There's no way they can write the NIL money off as a business expense and if they do, the IRS should audit all there asses. Audit the players too lol
Ive been curious about this as well. I dont see how boosters are convinced to shell out money honestly
Posted on 1/21/24 at 1:51 pm to MontyFranklyn
quote:
How can boosters afford to pay millions a year and get no return?
They do get a return. Being a mega-donor at a massive university has big perks.
I don’t have the means to be a mega-donor myself, but I control enough vendor contracts to know the game. Any time we go to market, you hear “I can get you this practice pass” or “This box access” etc.
It also gives your business first access to quality students who will likely become quality employees. The amount of 32+ ACT/3.8+ GPA engineering kids that went to Lockheed from my UA class was significant.
This is why any “Free market” discussion regarding college athletics is asinine. Regardless of how the budgets are separated, it’s near impossible to separate the athletics department from the perks of being tied a taxpayer-backed institution.
Posted on 1/21/24 at 1:57 pm to MontyFranklyn
What happens when boosters pay a player and the coach wants to sit him for missing practice or a few other team infractions?
Can the player put pressure on the boosters to put pressure on the coach?
Can the player put pressure on the boosters to put pressure on the coach?
Posted on 1/21/24 at 8:17 pm to MontyFranklyn
quote:
How can boosters afford to pay millions a year and get no return?
These wealthy people can donate how ever much money they can through their favorite hobby to get themselves into a lower tax bracket to pay the same tax as a homeless man while actually being one of the richest people in the world.
Money is so funny man. Like making a business trust through an LLC and only taking 5% ownership in that company so the other 95% owners have to pay the tax you otherwise would.
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