Malik's NIL deal Coyle Chevy
- Thread starter REDFISTFURY3
- Start date
I was always under the impression that Coyle Chevrolet were big IU supporters. Good for Malik and UofL.
When I see any reporting of these Name-Image-Likeness deals I never see any details of the dollar amounts. Someone tell me exactly how much these beneficiaries get ($$$) and when/how do they receive it ??
I see frequent "stories" about Name-Image-Likeness deals being "signed" but never any mention of payments or records of same.
Peace
I see frequent "stories" about Name-Image-Likeness deals being "signed" but never any mention of payments or records of same.
Peace
WildCard I agree with your comments but I wonder if "privacy" issues come into play in discussions of payments or amounts.
GO CARDS!!!
I cannot help but think about the potential problems these young recipients will have with the IRS over time. Some of these NIL arrangements rise to 6 figures and beyond; and those who are paying out these sums will be reporting their distributions as advertising expenses to the IRS.
The IRS has a history of being most creative in their identifying what constitutes income; just wonder if they will consider a scholarship, room, board along with the NIL as ordinary income?
The IRS has a history of being most creative in their identifying what constitutes income; just wonder if they will consider a scholarship, room, board along with the NIL as ordinary income?
I simply need more information on "how things work" (i.e. NIL procedures and conditions, etc). That apparently has not yet been defined..
233 asks a good question about the tax status of NIL "income". IMO this "NIL thing" is still very much "undefined".
Peace
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My good friend WC: it’s true the NIL has not been defined as of yet ……however, one thing that is certain; it will be treated as ordinary income. and I question if a lot of these kids have the level of sophistication to handle the tax consequences, if no withholding is deducted at the time of distribution. The IRS and the respective State Tax folks will get their share for sure.
Lets hope these kids are getting proper info on actually paying taxes. As we grown-ups know the IRS frowns on those that forget to pay their due.
GO CARDS!!!
I don't care if they know how to handle it or not.
They wanted it. They got it.
As far as I'm concerned, they can learn how to deal with it on their own. Or not.
Welcome to grown up land.
They wanted it. They got it.
As far as I'm concerned, they can learn how to deal with it on their own. Or not.
Welcome to grown up land.
I think we all can use a little assistance as we move into grown up land.
Probably. But I’ll not spend one minute worrying about somebody who is conceivably making more money than I am. Here’s my help to them: Hire an accountant like I do.
Hey, after all, today’s society is all about “me”. Took a while to learn that.
Gotcha. I think you are painting in broad brushes. Just an fyi..,most of these guys aren’t making much.
I knew plenty of guys in college that had academic scholarships and also worked a job. I never saw them as greedy.
Apples and oranges. NIL changes the game KH. Can't even compare an academic scholie to an athletic one in these times and days. If its not greed what is it for the athletes?
Added: How much is that schollie worth nowadays? And you never answered the question about why its not greed?
I had to pay for ever cent of my college education in blood sweat and tears by working a full time job in the daytime and going to school at night 3 or 4 days a week and many weekends...took me 12 years off and on to get a BS in B&M....and 18 months to get my MA in HR Dev & Trng. I did it because I wanted to better myself and be a more knowledgeable and marketable individual when I finished my 25 year military career.
I would have very much appreciated a schollie in lieu of going the route I went and chose for myself. No regrets I did it that way because I had the want to but not the money or athletic skills to earn one. I appreciated it more than if I was getting a "Free Ride" and applied myself with a drive for the "End to the Means" ....so to speak.
If its not money/greed that is the root to evil....what is....answer that one for me KN
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The vast majority of athletes are barely making a few nickels because of NIL. For instance I know several UofL softball players are now allowed to give instructional training and that’s how they make money (ie: they are working a job). The backup offensive guard isn’t making much more than spending money. I just don’t understand the angst regarding all this.
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I am sure they are all starving to death and homeless without a place to lay their head at night too...and worrying about how to pay that high tuition bill.
I am glad that those you know and sited are willing to work for some spending money and not looking for a handout. Builds character and gratitude....a life long trait to have and grow into.
Education is one thing that can not be denied or taken away from you....the developed brain is a wonderful attribute to have....and second only to honesty and integrity traits in a human being. The world needs much more of it.
You are implying that guys like Malik aren’t working for what they are getting or that they are being greedy. A guy like Malik has a world of pressure to succeed. Scholarships are one year contracts. They can be revoked. I worked my ass off in college while playing a sport at a level that didn’t offer scholarships. I would’ve loved to play at a higher level but I wasn’t good enough. But I certainly don’t bemoan those that are. Most college kids aren’t having their every move followed like these top athletes are. Schools, TV networks, administrators, coaches, etc have been making piles of money off of these guys for decades. Glad the playing field has leveled some.
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Me and a buddy graduated from HS about the same time.
He started working on cars and I went to college.
He just paid cash for a $600k house with a 10 car garage full of classic vehicles.
“College” doesn’t guarantee success, and I say there’s a lot of people who could have made a lot more money without that Political Science or PE degree.
He started working on cars and I went to college.
He just paid cash for a $600k house with a 10 car garage full of classic vehicles.
“College” doesn’t guarantee success, and I say there’s a lot of people who could have made a lot more money without that Political Science or PE degree.
College is very overrated for many. Folks with trade certifications are making bank these days.
See previous post about your post 3 posts up from here. Don't know if you had went back and saw that I made an addition.
I Added:
How much is that schollie worth nowadays?
And you never answered the question about why its not greed?
I had to pay for ever cent of my college education in blood sweat and tears by working a full time job in the daytime and going to school at night 3 or 4 days a week and many weekends...took me 12 years off and on to get a BS in B&M....and 18 months to get my MA in HR Dev & Trng. I did it because I wanted to better myself and be a more knowledgeable and marketable individual when I finished my military career.
I would have very much appreciated a schollie in lieu of going the route I went and chose for myself. No regrets I did it that way because I had the want to, but not the money or athletic skills to earn one. I appreciated it more than if I was getting a "Free Ride" and applied myself with a drive for the "End to the Means" achievement ....so to speak.
If its not money/greed that is the root to evil....what is....answer that one for me KN
The effort you put into getting a degree has obviously motivated you and steered you on the path to success. In all seriousness, hats off to you. However, Malik and many others are working their asses off to try and climb the mountain in front of them. Maybe the motivation is greed, but I doubt it. I think it is likely to be the best, to support his family, to get a degree and a professional sports career. Most of us toiled without a constant spotlight on us. That doesn’t minimize our efforts. However I feel compelled to commend these athletes who get it done in the classroom and on the field while carrying the hopes and expectations of thousands of fans. If they make some money and get school paid for, then hats off to them for carving that path through their efforts.
"How much is that scholly worth?" To whom? How much does that scholly cost the school in real value? Anything? What is the potential value of a scholly? Somewhere between $0-$100B, I suppose. So much angst about grown men and women making money like any other person in this country. "B-b-but what about the taxes?" LMAO
