You knew NIL was going to be the Wild West, here’s some proof for you.

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Some Guy summed up the whole mess pretty well. More money appears not to be the cure all.
 



I can see an Athletic Dept viewpoint, is if they don't know about NIL deals, they can't be held responsible to deal with eventual breach of contract lawsuits or financial obligations for future tax issues.
 


Word said:
Wonder when the IRS will start looking into this?
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I don't think it means they aren't reporting the income on their tax forms. Illinois has a state law that requires schools to collect the info to help the students avoid mistakes. From the article:

“I find that maddening and irresponsible,” said Bill Carter, founder of Student-Athlete Insights, which provides NIL consulting services. “It seems unethical to me to allow 18-to-23-year-olds to participate in something life-altering like this but provide no structure, no support, no direction.”
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The issue I have is that what other groups of 18+ year olds get monitored like this? If you're an 18 year old Taylor Swift, for example, no one is looking over your shoulder to make sure you don't sign a bad deal. But somehow 18 year old athletes need the kid gloves?
 


GopherTheJugular said:
I don't think it means they aren't reporting the income on their tax forms. Illinois has a state law that requires schools to collect the info to help the students avoid mistakes. From the article:



The issue I have is that what other groups of 18+ year olds get monitored like this? If you're an 18 year old Taylor Swift, for example, no one is looking over your shoulder to make sure you don't sign a bad deal. But somehow 18 year old athletes need the kid gloves?
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I am quite sure the 18 year old Taylor Swift had a lot of smart people looking out for her best interests, and were paid well.
 




Bobek said:
I am quite sure the 18 year old Taylor Swift had a lot of smart people looking out for her best interests, and were paid well.
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Yeah I would have gone with a better example than someone who has had a dedicated team of advisors since before they had a drivers' license lol.
 

I continue thinking there will be contracts introduced at some point for college students, at least at the DI level. There's going to be a want for more stability both with NIL and the transfer portal, because like the title of this thread says, it's the Wild West.
 


The NCAA is doing everything in its power just not to get sued. It's not about being in a leadership role anymore they're just sitting back collecting their share of the money as College athletics eats itself alive.
At some point a more defined set of rules and reporting will need to be enacted until then this is just the beginning of the chaos.
 








FredCoxRocks said:
Something, something, name-image-likeness. Something, something, young people and money. I don't care anymore. Just kick off and play football and I'll watch...for now.
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Yep, whole thing is tedious as hell. Far worse on the basketball side but still messy in football as well.
 



Spaulding!No! said:
Some Guy summed up the whole mess pretty well. More money appears not to be the cure all.
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I guess even if you legalize cheating, people still find a way to cheat.
howeda7 said:
Is this about the IRS or the NCAA? 😎
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IRS. Don't want to go into details, but someone in our household (not me) forgot to include a withdrawal of retirement funds on our return from a few years ago. Just got the letter pointing that out two weeks ago.

Not Me.gif
 

The 364th ranked Mississippi Valley State University has gone to the NCAA tournament 5 times in the last 40 years. I'm not worried about the effect of the NIL or transfer portal on their chances of returning once again in the next 10 to 15 years. They did it before big money. They will likely do it with small money NIL. They have a distinct advantage over Minnesota, they don't need star players to win their conference and show up to the dance. Tell me, is it better to spend millions being in a strong conference or a puny school with an automatic bid in an insignificant conference?

This is why I love the tournament, the transfer portal, coaching changes, NIL money, and small money conferences with automatic bids. They are the mouse that roar. Long live the mice. God bless the U of M. Go Gophers. Who hoo. What a crazy situation.
 

Is it any wonder that the NCAA is screwed up. We have a liberal Democrat from Massachusetts as the president. Enough said.
 


USAF said:
Weird that Woodbury Tim apparently has no issue with THIS post.
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I just checked in on the board dumbass and yes I do have a problem with Jack’s post. I have told lefties and righties to keep their crap off of here. But nice try moron.
 


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