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Started By
Message
re: These kids better lawyer up
Posted on 12/15/21 at 6:20 pm to La Place Mike
Posted on 12/15/21 at 6:20 pm to La Place Mike
quote:
. A lot of these families will be taxes for the first time.
Guess who will get blamed for that and what they will call it?
0
Posted on 12/15/21 at 6:27 pm to BTRtoIAH
This will end up like those going to the nfl and not knowing how to manage their money. Will be a complete shite show over the next 1-2 years.
Posted on 12/15/21 at 6:30 pm to Tvilletiger
quote:
Who will be the watchdog to protect them?
Let’s prevent people from making money legally for their own protection.
Posted on 12/15/21 at 6:31 pm to DamnStrong1860
You just watch how fast this changes....it will all end up in the courtroom, all because college sports are so popular.
Lawsuits and Lawyers on the way!
Lawsuits and Lawyers on the way!
Posted on 12/15/21 at 6:35 pm to La Place Mike
quote:
Yep Some of these families are going to find themselves in a entirely different tax bracket then they are accustomed to. It also could mess up any scholarships based on income other family members have.
As a tax professional, please note the following:
1. After a certain amount of earned income, the individual must file their own personal income tax return. This would have no effect on his family's tax situation. It would solely be on the athlete.
2. Athlete's income would have no effect on any other family member's ability to obtain financial aid for college, since said income would not be on Athlete's parent's income tax return.
Posted on 12/15/21 at 6:36 pm to BTRtoIAH
Most will blow all of it
Posted on 12/15/21 at 6:44 pm to deathvalleytiger10
Should be Simi pro
That is what it is
If the student athlete cannot perform then the contract is terminated right
That is what it is
If the student athlete cannot perform then the contract is terminated right
Posted on 12/15/21 at 6:53 pm to Tiger on the Rag
quote:
Wrong, there is no agency.
You should look up the definition of agency. . .
Posted on 12/15/21 at 6:56 pm to MOT
quote:
As opposed to previously when they were kidnapped at their high school graduation and forced into NCAA labor camps?
You’re a clown. They got paid nothing for the same risk and effort of NFL guys who make millions while the schools made millions off their talent. Don’t want to hear about scholarships which were a drop in the bucket compared to what the school made off these guys.
Posted on 12/15/21 at 7:14 pm to DamnStrong1860
quote:
They got paid nothing for the same risk and effort of NFL guys who make millions while the schools made millions off their talent.
How much did your college education cost? Your rent and food? Your entertainment? Your travel cost to and from school? Cost of your text books? Cost of physical development of your body to potentially be ready for the next level? Cost of your tutors? Cost of Medical Insurance? etc., etc. etc. And that's not including illegal inducements.
Yeah, they get paid nothing.
No one forced them to attend college on an full paid athletic scholarship with monthly stipend and cost of attendance stipend. They can wait three years from high school graduation, provide the cost of the physical training necessary to develop their body for the next level, pay for specialized coaching to learn their craft, pay for food and lodging, their own entertainment and then apply for the NFL draft.
And you have the nerve to call someone else a clown, SMDH.
Posted on 12/15/21 at 7:51 pm to BTRtoIAH
For the ones that act outside the lines they should know they can now be sued because they actually have some wealth.
Posted on 12/15/21 at 7:57 pm to BTRtoIAH
And they better get an education to learn how to be their own financial advisor.
Posted on 12/15/21 at 7:59 pm to DamnStrong1860
quote:troof
These kids finally have agency over their bodies and careers and y'all can't stand it.
Posted on 12/15/21 at 8:00 pm to DmitriKaramazov
quote:Ah, so now we WANT to be like the NFL? No more of the "take this shite to the NFL if that's what you want?" Got it.
Look at the NFL.
Posted on 12/15/21 at 8:02 pm to DamnStrong1860
quote:
The school isn’t giving them the money, right? It’s a big time booster so maybe the booster should lawyer up and properly make sure any payments they make are contingent upon the athlete wearing the LSU brand/purple and gold. That’s business and that’s fair. But if, despite that, a kid decides he wants to go somewhere else, he can.
I'm wondering about these NIL terms. You get a deal because you're a big recruit - ok. Is it a 1 year term? Subject to cancellation if you don't start or play a certain # of games? Lump sum, guaranteed? It's not like the player is an advertisement and you get exposure through them like an NFL player would give endorsements. There's no reason to pay a bench player at all. Behavior clauses, no doubt.
All the tax and general finance thoughts in this thread are spot on. Families will mess this up so bad. Got some NIL, so I can finance those cars and my mom's house...NIL money goes away...problems everywhere.
Posted on 12/15/21 at 8:17 pm to BTRtoIAH
Punks with their hands out. What a fukin country.
Posted on 12/15/21 at 8:19 pm to redfish99
quote:
Punks with their hands out. What a fukin country.
How is getting paid to play football a handout?
Posted on 12/15/21 at 8:19 pm to DamnStrong1860
quote:
These kids finally have agency over their bodies and careers and y'all can't stand it.
What they can't stand is kids making more money than they do and having to pay to go watch them play. This has been going on under the table for years from boosters, coaches etc. Now it's actually legal to do people are upset. Or maybe it just opened your eyes to what you refused to see.
Posted on 12/15/21 at 8:19 pm to DamnStrong1860
quote:And they did so voluntarily while knowing what was and wasn’t allowed far ahead of time.
They got paid nothing for the same risk and effort of NFL guys who make millions
quote:What specifically do you think schools are doing with this money?
while the schools made millions off their talent.
quote:Cool, they have the ability to tell the NCAA to frick right on off and take their product to all the other avenues the free market has provided.
Don’t want to hear about scholarships which were a drop in the bucket compared to what the school made off these guys.
Posted on 12/15/21 at 8:21 pm to MOT
quote:
And they did so voluntarily while knowing what was and wasn’t allowed far ahead of time.
And now businesses are voluntarily paying them.
This post was edited on 12/15/21 at 8:21 pm
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