Miami Basketball and NIL

[ru66]

Who said people aren’t paying taxes on NIL deals?


Are we going down the “college athletes are too dumb to pay taxes” argument again?

Who said that? Only you. My point is a truism and it points out that throwing millions of $ around to hundreds or thousands of athletes as some are saying is happening with ease is crazy and doubtful in the numbers some are assuming. By the way athletes are being made aware by their schools/ advisors ( or should be) that they will become contract employees and the consequences of that . It has nothing to do with saying or thinking they are dumb to reality. That's in your mind?

 

[MiloTalon13]

Who said that? Only you. My point is a truism and it points out that throwing millions of $ around to hundreds or thousands of athletes as some are saying is happening with ease is crazy and doubtful in the numbers some are assuming. By the way athletes are being made aware by their schools/ advisors ( or should be) that they will become contract employees and the consequences of that . It has nothing to do with saying or thinking they are dumb to reality. That's in your mind?

NCAA athletes are not contract employees
Nothing has changed between schools and athletes except NIL being allowed
NIL is with third parties

 

[Plum Street]

My post said nothing about fans being happy. Jersey Mike's stock holders (if they are public) might take issue with it. With good reason. It's pretty much theft from share holders. Designating other people's money to one guy's favorite basketball team with no measurable return I would argue is illegal. Fiduciary duty to share holders is the term.

We'll find out soon enough. Some non sports fan investor will ask a court that question before too long. Bet on it

Who cares ? Are you a stock holder ?

Your post said nothing about fans being happy , so you ignored the point of the whole thing . It’s about winning and fans being happy . It’s sports !

 

[ru66]

NCAA athletes are not contract employees
Nothing has changed between schools and athletes except NIL being allowed
NIL is with third parties

When they get paid for services from a donor they are contract employees. Never said they are contract employees for the school they play for.

 

[MiloTalon13]

Who cares ? Are you a stock holder ?

Your post said nothing about fans being happy , so you ignored the point of the whole thing . It’s about winning and fans being happy . It’s sports !

Is it about fans being happy or just getting them to buy tickets, pay for Big Ten network etc?
My impression of many here is they're more compelled to watch if they're unhappy.

 

[Plum Street]

Is it about fans being happy or just getting them to buy tickets, pay for Big Ten network etc?
My impression of many here is they're more compelled to watch if they're unhappy.

As a fan, I want myself and fellow fans to have a winning team and be happy.
Not sure what some people here want. Seems like they don’t want to win and then want to complain when we lose.

 

[MoreCowbellRU]

As I said , you can't avoid taxes-- private side deals? Taxes are still involved and when you say millions to a player the IRS really wants their share and these players now become independent contractors . You know you still have to pay taxes on money you steal.

WTF are you talking about? I literally said YOU CAN NOT hide the transactions from the IRS and not break the law!

I hope the level of reading comprehension exhibited on this board at times is not indicative of the education received @ RU.

 

[NickRU714]

Who said that? Only you. My point is a truism and it points out that throwing millions of $ around to hundreds or thousands of athletes as some are saying is happening with ease is crazy and doubtful in the numbers some are assuming. By the way athletes are being made aware by their schools/ advisors ( or should be) that they will become contract employees and the consequences of that . It has nothing to do with saying or thinking they are dumb to reality. That's in your mind?

So what was your point of bringing up having to pay taxes and the IRS?
Obviously they would have to pay taxes on NIL deals. Nobody ever said they wouldn't.

And yes, it's been brought up many times that giving "college athletes" money is going to cause problems because now they'll have tax consequences. As if every other college student isn't dealing with taxes as well.

 

[MoreCowbellRU]

So what was your point of bringing up having to pay taxes and the IRS?
Obviously they would have to pay taxes on NIL deals. Nobody ever said they wouldn't.

And yes, it's been brought up many times that giving "college athletes" money is going to cause problems because now they'll have tax consequences. As if every other college student isn't dealing with taxes as well.

I responded to somebody who said these deals can't be secret, which is nonsense. My response was that the ONLY folks they can't hide it from legally is the IRS. Pretty simple concept I thought at the time.

Sometimes reading posts without the context in which they were created leads to odd conclusions as to what they mean. Not a dig on you, just my observation in general.