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re: Breaking News: NCAA to allow players to be paid for names, images, likeness
Posted on 10/29/19 at 2:07 pm to CivilTiger83
Posted on 10/29/19 at 2:07 pm to CivilTiger83
quote:
Northwestern
Oh please
Northwestern isn’t getting good because of this
2
Posted on 10/29/19 at 2:08 pm to I Bleed Garnet
Northwestern has some seriously rich alumni
Posted on 10/29/19 at 2:16 pm to RebelRye
quote:
They are going to have to revamp the transfer portal rules because now you'll get players transferring schools because one will legitimately be offering more money than the other.
"We notice LSU is only paying you $5k but we can offer you $15k if you transfer to Bama."
Agree. The rule change doesn't happen in a vacuum.
Posted on 10/29/19 at 2:16 pm to Jeb Busch Lite
Guess I’ll be liquidating my 401k and putting it all in dodge....
Posted on 10/29/19 at 2:17 pm to ColoradoAg
quote:
Northwestern has some seriously rich alumni
So?
So do the Ivy League Schools
How much have they thrown at sports in the past?
Posted on 10/29/19 at 2:18 pm to I Bleed Garnet
quote:
Oh please Northwestern isn’t getting good because of this
They just built a $260 million football facility on Lake Michigan... they have the money to invest in a good football team and they appear to be willing to spend some money.
Posted on 10/29/19 at 2:18 pm to mistaken4193
quote:yes, universities will strip off all names from jerseys to avoid sharing revenue linked to direct endorsement of the player. Video games will be player #s and stats without mention of the players name for that season. Then, they will up the ante in trademark fees for any advertisement or apparel that endorses a player while wearing the school's trademarked logos and designs.
Hopefully they’re rules and guidelines to this
Players wearing street clothes or generic uniforms on your local car dealer ads is on the way.
Posted on 10/29/19 at 2:20 pm to I Bleed Garnet
I mean it’s not necessarily going to be the ones with the most toys wins. They are only going to be able to profit off of likeness? So I’m not sure all starters are even going to profit on this. Maybe I’m missing something here
Posted on 10/29/19 at 2:24 pm to Icoachfb
All 5* players get a head start on becoming rich. And there will definitely be a better distribution of those players now. Why go to Bama and sit on the bench, when you can go to Arkansas and be rich from Wal-Mart commercials and ads. For example
Some schools with rich alumni that support football are going to have an inherent advantage
Some schools with rich alumni that support football are going to have an inherent advantage
Posted on 10/29/19 at 2:29 pm to ColoradoAg
Yeah I get what you are saying and anything new will have to have some kinks worked out. Sure some schools are going to have an advantage but they do now. Not sure this is going to turn into the Wild Wild West.
Better be careful here of Title IX. As soon as a girl on the basketball team says she don’t have the same opportunity as a guy things could get interesting.
Better be careful here of Title IX. As soon as a girl on the basketball team says she don’t have the same opportunity as a guy things could get interesting.
Posted on 10/29/19 at 2:35 pm to Icoachfb
quote:
The IRS haven’t thought about that part good point. Government is going to get there share.
Oh yes the IRS has and are waiting for this to happen. Some players and their families might not like this with the new law in place since this will now all fall under taxable unearned income.
First look at scholarship alone as the athletes are receiving taxable income. Anything that pays for tuition and fees required for enrollment or attendance at the educational institution, or for fees, books, supplies, and equipment required for courses at the educational institution is not taxable but amounts used for incidental expenses, such as room and board, travel, and optional equipment has to be reported for gross income.
Now the concern with that currently is how kiddie tax is applied(students under the age of 24) which would be taxed as unearned income at the family rate if under $2100 but IIRC(new law in place this year) the new changes for anything taxable income which stipends and scholarship portions over 12+ got moved to a trust income tax rate of 37% which means getting paid for these likeness in the end they will get very little of it.
This is only the federal tax rate. College athletes in CA would be subject to an additional 13% tax. Other states will do the same as well. 50% is better then nothing but for athletes who for the majority are still claimed as dependents under their parents for tax purposes this could be a mess. Especially for other benefits for medical and what which will change household income amounts.
This post was edited on 10/29/19 at 2:38 pm
Posted on 10/29/19 at 2:39 pm to Icoachfb
Oregon has Nike on their side. They will get anyone they want and sign them all to shoe and apparel deals. Yes, Oregon had those advantages, but everything was on the down low
Now it is all going to be allowed without cheating
Now it is all going to be allowed without cheating
Posted on 10/29/19 at 2:41 pm to Gamecock Steve
Will prison time count towards their eligibility for those who don’t pay their taxes?
Will prison football teams become a thing again?
The Longest Yard III, coming soon to a theater near you.
Will prison football teams become a thing again?
The Longest Yard III, coming soon to a theater near you.
Posted on 10/29/19 at 2:42 pm to CivilTiger83
quote:
They just built a $260 million football facility on Lake Michigan... they have the money to invest in a good football team and they appear to be willing to spend some money.
And Clemson and South Carolina have the same thing
But what does being in a big market matter?
You think Under Armor rather spend tons of money on a recruit and try and compete in Chicago with all the major professional teams they have now that already dominate their billboards by a mile?
Posted on 10/29/19 at 2:43 pm to ColoradoAg
quote:
Oregon has Nike on their side. They will get anyone they want and sign them all to shoe and apparel deals. Yes, Oregon had those advantages, but everything was on the down low
Now it is all going to be allowed without cheating
But why wouldn’t Nike also give money and do the exact same things to their established schools with National titles?
Like Bama LSU USC Clemson etc
Posted on 10/29/19 at 2:44 pm to mistaken4193
quote:Like it will matter
Hopefully they’re rules and guidelines to this
It's gonna get dirty and convoluted very quickly. Not that the scene was clean before, but at least they can stop complaining now.
That is until the female athletes start bitching they make less.
Posted on 10/29/19 at 2:44 pm to Icoachfb
quote:
I mean it’s not necessarily going to be the ones with the most toys wins. They are only going to be able to profit off of likeness? So I’m not sure all starters are even going to profit on this. Maybe I’m missing something here
As good as the 5 star is the school will help too
A 5 star Recruit will be able to make a lot more going to Alabama than Northwestern or Rutgers
Posted on 10/29/19 at 2:45 pm to Drewbie
quote:
If college athletes are going to make money off their likenesses while in school, their scholarships should be treated like income. I’ll be introducing legislation that subjects scholarships given to athletes who choose to “cash in” to income taxes.
Senator Richard Burr of North Carolina.
Posted on 10/29/19 at 2:48 pm to Jeb Busch Lite
It's waaaaay too early to being jumping to conclusions here. I suspect the NCAA's got a "game plan".
Posted on 10/29/19 at 2:50 pm to I Bleed Garnet
quote:
As good as the 5 star is the school will help too
A 5 star Recruit will be able to make a lot more going to Alabama than Northwestern or Rutgers
Maybe, maybe not. I think Texas will also have an advantage with the LHN, the same advantage that everyone was concerned about years ago
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