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Sign Up Now!$EC would love to put a salary cap on the B1G so they can go back to cheating like they used to.
Oh I’m sure they’d find a wayI’m not sure they can fund cheating on top of NIL though. The guys who were giving these kids cars and 40-50k or so are now just doing it through the collective
Why are we all so stupid to pay in this much money for farm league nfl teams? Make an NFL farm league and make them pay for it eventually? This is incredibly stupid.
Ummm this is $50mm for one college foosball team. Seems kinda gay.There are millions of dollars spent on youth sports every single year. The overwhelming majority of those kids those dollars are spent on will not be playing that sport in college.
It’s the same argument
Ummm this is $50mm for one college foosball team. Seems kinda gay.
It currently sits somewhere “between $35 million and $40 million,” which counts the likely revenue-sharing allotment expected to be $20.5 million as well as payouts through the Texas One Fund.
What is we just to a few thousand $599 deposits to a recruit?The $20.5 million is for all sports, men and women. Per the House settlement, a portion has to go to women's sports, and the remaining cannot go to a single sport.
Any collective NIL for 2025 season has to be paid out in full by June 30th. Some collectives has piles of cash and had to dump it this spring. That's the reason you saw huge basketball NILs.
After July 1 this all changes. The big thing any NIL over $600 has to be approved by 3rd party clearinghouse and show proof of execution before payment. They also have to be a direct payment from the business, not from a collective.
Gone are the endless piles of NIL for all athletes. All athletes are going to be assigned a market value by this clearinghouse.
What is we just to a few thousand $599 deposits to a recruit?
I also applaud him.Reminds me of a my brother-in-law. He's a Union Electrician Foreman and claims that money as his only income. Well.... surprise, he also does quite a bit of electrical work on remodels.
He takes Venmo, but only in payments of $599 or less.
I truly applaud his desire to screw the government.
The $20.5 million is for all sports, men and women. Per the House settlement, a portion has to go to women's sports, and the remaining cannot go to a single sport.
Gone are the endless piles of NIL for all athletes. All athletes are going to be assigned a market value by this clearinghouse.
Ultimately though "screwing the government" just screws all the other tax payers.Reminds me of a my brother-in-law. He's a Union Electrician Foreman and claims that money as his only income. Well.... surprise, he also does quite a bit of electrical work on remodels.
He takes Venmo, but only in payments of $599 or less.
I truly applaud his desire to screw the government.
My source was conversation CEO at 1890 and Coach Rhule himself.I don't think that is correct. Do you have a link? No limitations to how the $20.5 million can be shared with athletes. It can all be used for one sport if the AD desires it, or even just one player.
Distribution. The settlement terms do not dictate how institutions should distribute any “new payments to athletes.” For example, the settlement does not prevent an institution from providing all of its new payments to only one athlete.
LINK
Athletes are not going to be assigned a market value by the clearinghouse, NIL deals over $600 will be.
These regulations require college athletes to report any third-party NIL compensation that exceeds $600 in the aggregate to a designated entity. There is no cap on athlete NIL compensation provided by third-party entities. However, the settlement terms provide for greater oversight and a fair-market-value assessment of NIL deals between athletes and boosters or associated entities/collectives to ensure that they are “legitimate” NIL deals.
Cool.My source was conversation CEO at 1890 and Coach Rhule himself.
The distribution rules will be set at a conference level. BIG is minimum of 10% to women's sports and capped per sport and max per player. He said other conferences will have similar rules in place.
Yes to second part. $600 or more must beat sent through clearinghouse and they determine if that is market value for said NIL. Tom's Plumbing in Lincoln won't be able to drop $1 million on a portal player.
Also collectives cannot combine or pool NIL deals across several businesses. All have to be individually approved.
Depends where he is but Venmo sends a 1099 if the total is more than $5,000. Doesn't matter how many transactions.Reminds me of a my brother-in-law. He's a Union Electrician Foreman and claims that money as his only income. Well.... surprise, he also does quite a bit of electrical work on remodels.
He takes Venmo, but only in payments of $599 or less.
I truly applaud his desire to screw the government.