Article on Texas and NIL

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midatlantech

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The article recently was how Texas raised money for NIL and paid every player $50K or OL?

Anyway the story repeatedly talked about the donations were tax deductible. Is our NIL tax deductible?
 
NIL is NOT tax deductible per IRS ruling a few months ago. That said, I believe some colleges like Texas and A&M are hiding behind state legislation that will challenge IRS. Tech Way contributions are not tax deductible.
 
MACHETE said:
NIL is NOT tax deductible per IRS ruling a few months ago. That said, I believe some colleges like Texas and A&M are hiding behind state legislation that will challenge IRS. Tech Way contributions are not tax deductible.
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Sounds like something really worth going to federal prison and paying fines on. Football.
 
JoltinJacket said:
The shift in the last decade is mind boggling.

We've gone from 'will we get the death penalty if caught' to 'is this tax deductible?'
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And by 1/1/2029: 'One of the players I sub just entered the portal and I just gave him a superbump yesterday. Can I contact ACCPay for a refund, or at least transfer it to a player who wants to be here?'
 
I am happy for the players and their windfalls but now that CFB is corrupt to the core and is in full chaos mode, I think I really am done with it. I tried watching the CFP but I just couldn't get into it no matter how good the games were. The problem was I now *know* that each team was paid for vs *assuming* some stars on each team were visited by the bagman. It has really taken something away from my enjoyment of these "amateur" athletics. This isn't angry boomer sh*t either. It's just CFB has lost any illusion it had before of being something pure and something completely different than the NFL. Now it's the NFL without a salary cap and unlimited free agency. There's a reason the NFL has strict limits on both of these processes and that is competitive balance.
 
TampaBayJacket said:
I am happy for the players and their windfalls but now that CFB is corrupt to the core and is in full chaos mode, I think I really am done with it. I tried watching the CFP but I just couldn't get into it no matter how good the games were. The problem was I now *know* that each team was paid for vs *assuming* some stars on each team were visited by the bagman. It has really taken something away from my enjoyment of these "amateur" athletics. This isn't angry boomer sh*t either. It's just CFB has lost any illusion it had before of being something pure and something completely different than the NFL. Now it's the NFL without a salary cap and unlimited free agency. There's a reason the NFL has strict limits on both of these processes and that is competitive balance.
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The game is a lot less corrupt now. It's just completely changed.

It's no longer amateur football with a bunch of corrupt, under the table payments. It's now semi-pro football with a bunch of above board, legal payments. Soon to be full-on professional football in five or ten years' time.
 
andrew said:
The game is a lot less corrupt now. It's just completely changed.

It's no longer amateur football with a bunch of corrupt, under the table payments. It's now semi-pro football with a bunch of above board, legal payments. Soon to be full-on professional football in five or ten years' time.
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You are correct except for the above board stuff. It's still corrupt to the core with teams still circumnavigating the rules to pay players. NIL isn't allowed to recruit players yet... it's the main recruiting tool used to recruit players. The problem is the NCAA is toothless in enforcement and the long-known secret is out in the open: the NCAA has no real power over schools. It's really a useless organization that stays alive simply because people that are on it's very large salary structure refuse to fire themselves.
 
TampaBayJacket said:
You are correct except for the above board stuff. It's still corrupt to the core with teams still circumnavigating the rules to pay players. NIL isn't allowed to recruit players yet... it's the main recruiting tool used to recruit players. The problem is the NCAA is toothless in enforcement and the long-known secret is out in the open: the NCAA has no real power over schools. It's really a useless organization that stays alive simply because people that are on it's very large salary structure refuse to fire themselves.
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Well that and they are actually useful at organizing championship tournaments for non revenue sports and athletes at 3 levels.
 
Continuing with my rant on the brave new world of college football (since I can't edit my original post an hour ago), I had a hard time expressing what I don't like exactly about the NIL era. It just occurred to me that what appealed to me about CFB my whole life is that the kids that come to play for your school chose your school for reasons that were still somewhat pure (pretty campus, facilities, academics, NFL potential in your offense/defense, etc.) versus now it's a bidding war with zero school loyalty. Mercenaries will fight for whomever is the highest bidder. Loyalty goes both ways and that QB who was loyal and waited his turn to take the reins suddenly gets usurped by a rent-a-player portal QB that took your disloyal school's $$$ to play for a year on his way to the NFL. FSU lost it's QB2 for their laughing stock bowl game because they recruited all those QBs that entered the portal. QB2 saw no future there and hit the portal himself, leaving FSU completely f****** for its bowl game.

I would've been fine with NIL had it's original intention lived out: that players should be able to profit off their fame *on their own volition* rather than schools paying them to play. Fame is fleeting so it made sense that your star QB should be able to make money from his social media followers or a couple of endorsements available due to his fame. However, what has happened is schools immediately said play for us and we will give X dollars in NIL contracts. That is completely not how NIL was intended. It sucks and now we have a new era. The NFL should be concerned because much of the NFL following comes from following your beloved college star in his NFL career. Now players move freely all over the place, are you really going to follow Jahmyr Gibbs in the NFL even though he was a star here, for example? I would have been cheering for him at Detroit but now he doesn't feel like an ex GT player.
 
TampaBayJacket said:
You are correct except for the above board stuff. It's still corrupt to the core with teams still circumnavigating the rules to pay players. NIL isn't allowed to recruit players yet... it's the main recruiting tool used to recruit players. The problem is the NCAA is toothless in enforcement and the long-known secret is out in the open: the NCAA has no real power over schools. It's really a useless organization that stays alive simply because people that are on it's very large salary structure refuse to fire themselves.
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That is fair, but the reason that is happening is that everyone knows the NCAA will lose in court if (when) those rules are challenged.

Like you said, the NCAA is toothless, both because it serves at the pleasure of the member schools but also because it appears much of what they were traditionally responsible for in the football space appears to not be legally valid.

So yes, the schools are circumnavigating the rules and things are corrupt in that way, but those rules don't reflect the new legal reality.
 
TampaBayJacket said:
Now players move freely all over the place, are you really going to follow Jahmyr Gibbs in the NFL even though he was a star here, for example? I would have been cheering for him at Detroit but now he doesn't feel like an ex GT player.
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It's funny, I hadn't really thought about it, but this is very true for me. I like to see Gibbs do well in Detroit, but I don't get that same GT-fan dopamine hit that I do when someone like Darren Waller goes off.

That said, my NFL fandom has grown in recent years, and it's not like all of the Tech-alum star power out there is what's causing it. It's just a better product for pure football enjoyment. I like college football because of the passion and tradition of it all. The more it shifts to just being NFL-light, the more I'm likely to continue gravitating towards the NFL.
 
gtg712x said:
It's funny, I hadn't really thought about it, but this is very true for me. I like to see Gibbs do well in Detroit, but I don't get that same GT-fan dopamine hit that I do when someone like Darren Waller goes off.

That said, my NFL fandom has grown in recent years, and it's not like all of the Tech-alum star power out there is what's causing it. It's just a better product for pure football enjoyment. I like college football because of the passion and tradition of it all. The more it shifts to just being NFL-light, the more I'm likely to continue gravitating towards the NFL.
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Darren Waller claims North Cobb High School these days, as I recall. Don't remember him ever claiming GT anymore. I don't know what happened there.
 
GTsapper said:
Darren Waller claims North Cobb High School these days, as I recall. Don't remember him ever claiming GT anymore. I don't know what happened there.
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Nothing. They all do it. I'm pretty certain he has nothing against GT.
 
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