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re: Ty Ty Washington signs a NIL with Porsche of Louisville.
Posted on 10/20/21 at 11:17 pm to WildcatMike
Posted on 10/20/21 at 11:17 pm to WildcatMike
Titty Dubs getting paid getting paid boys.
Cayts by 90
Cayts by 90
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Posted on 10/21/21 at 12:24 am to RollTide1987
Not as flashy as a Porsche, but someone needs to work on getting a Tesla partnership in Austin. Next governor is going to be a Longhorn again no matter who runs so hopefully something gets worked out.
This post was edited on 10/21/21 at 12:24 am
Posted on 10/21/21 at 3:07 am to BZ504
quote:
I hope these companies get burned for giving a 5 star bust a big NIL deal like Rattler and Clemson’s QB.
You're really confused about how this works. This deal is for marketing/advertising. He didn't sign a contract stating Porsche gets XX% of his signing bonus in return. And no one is gonna remember this in 3 years if he turns into a bust.
If this helps the dealership sell a couple of cars this years then it was a success.
Posted on 10/21/21 at 3:51 am to pankReb
This is great for college basketball. Kids are now going to want to stay 4 years in college because they’ll have to take a pay cut if they go to the NBA!
This post was edited on 10/21/21 at 3:52 am
Posted on 10/21/21 at 6:26 am to WildcatMike
I think it's insane myself, but they are targeting high profile kids that are either 1. being discussed as high draft prospects in their sport, or 2. will inevitably be top draft prospects without a doubt.
It's instant local/national marketing of their product with future stars. It's just the beginning. Former college stars are cashing in as well starting companies that focus on this NIL stuff with current college stars. It's a business within a business, and I really think schools should have a special department that manages and monitors it all.
It's instant local/national marketing of their product with future stars. It's just the beginning. Former college stars are cashing in as well starting companies that focus on this NIL stuff with current college stars. It's a business within a business, and I really think schools should have a special department that manages and monitors it all.
Posted on 10/21/21 at 6:54 am to RollTide1987
quote:
This is absolutely insane. What's to stop head coaches from going to the local McLaren dealership and getting them to give an NIL deal (along with a brand new car) to the #1 five star athlete in the country, provided he signs with the school?
Nothing really. But a lot of people don’t really see the real numbers behind these deals.
A lease on a new Porsche Macan is like $600 a month. So $7,200 a year for advertising, assuming the player has to make various posts about the car on social media.
That’s a little different than “giving” someone a $400,000 McLaren. Although, I’m sure some recruits we getting that kind of money under the table before NIL anyway.
Posted on 10/21/21 at 7:24 am to AUbagman
quote:
But alas, he received a depreciating asset that will further expound the problems in those that will be in pro sports, specifically black males.
Wouldn't the recipient be on the hook for an income tax as well? I believe the transaction is treated as taxable income.
Posted on 10/21/21 at 8:03 am to logjamming
quote:
Nothing really. But a lot of people don’t really see the real numbers behind these deals.
A lease on a new Porsche Macan is like $600 a month. So $7,200 a year for advertising, assuming the player has to make various posts about the car on social media.
This. People bitching about these NIL deals are actual idiots.
The future earnings from these players isn't the ROI for that dealership. The ROI comes from immediate car sales. That dealer pays a shite ton more than $7200 for TV, radio, and print advertising. Absolutely a drop in the bucket for them.
Posted on 10/21/21 at 8:07 am to Parrish_Dawg
quote:
Wouldn't the recipient be on the hook for an income tax as well? I believe the transaction is treated as taxable income.
Property tax.
I don't see how a car would fall under "income".
Posted on 10/21/21 at 8:07 am to Parrish_Dawg
quote:
Wouldn't the recipient be on the hook for an income tax as well? I believe the transaction is treated as taxable income.
Yes. Minimum at the state level. I think there's a dollar figure to hit @ $12.5K before Federal kicks in.
Posted on 10/21/21 at 8:09 am to CoachDon
And they thought the fbi thing was a big deal
Posted on 10/21/21 at 8:13 am to AUbagman
quote:
What'd I'd like to see, him getting the keys to his first investment property under an LLC set up by an attorney.
But alas, he received a depreciating asset that will further expound the problems in those that will be in pro sports, specifically black males.
quote:Username does not check out.
AUbagman
Posted on 10/21/21 at 8:14 am to WildcatMike
Sad.
Posted on 10/21/21 at 8:32 am to AUbagman
quote:
What'd I'd like to see, him getting the keys to his first investment property under an LLC set up by an attorney.
But alas, he received a depreciating asset that will further expound the problems in those that will be in pro sports, specifically black males.
Why do we care? Why are we worried about someone else’s pocketbook? He’s an adult; if these guys want to invest their NIL earnings then they will. If they don’t, they won’t. But let’s stop infantalizing.
Posted on 10/21/21 at 8:38 am to RollTide1987
quote:
What's to stop head coaches from going to the local McLaren dealership and getting them to give an NIL deal (along with a brand new car) to the #1 five star athlete in the country, provided he signs with the school?
I mean technically you're asking what's to stop a program from cheating, because that scenario would be against NIL rules.
IIRC, NIL only applies to student athletes already enrolled at a university, not prospective athletes/recruits.
Not that "the rules" has stopped anyone in the past.
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