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Topic: Red flags raised over new NIL company
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Pataskala
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Pataskala
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Posted: 10/10/2024 2:17 PM
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They pay athletes cash up front for a portion of their NIL deals. Sor of like what JG Wentworth does. It raises concerns that athletes aren't being fully informed about the details. https://www.espn.com/college-sports/story/_/id/41664466/n...
Maddog13
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Posted: 10/10/2024 10:19 PM
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Anyone wanting to know the ins and outs of NIL, I highly recommend reading "The Price: What It Takes to Win in College Football's Era of Chaos" by Armen Keteyian and John Talty. It just came out this summer and is absolutely mind blowing.
Andrew Ruck
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Posted: 10/11/2024 8:17 AM
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There are vulture companies like this out there in a lot of industries. I know there are several MLB stars (mostly latino) that are giving a sizable chunk of their career earnings to companies that threw money at them in their youth in exchange for the "lifetime royalty." It's pretty sad.
M.D.W.S.T
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Posted: 10/11/2024 9:47 AM
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More and more deals are going to be going through layers of LLC's and shadow companies to avoid paper trails.
Alan Swank
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Alan Swank
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Posted: 10/11/2024 12:32 PM
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Andrew Ruck wrote:expand_more
There are vulture companies like this out there in a lot of industries. I know there are several MLB stars (mostly latino) that are giving a sizable chunk of their career earnings to companies that threw money at them in their youth in exchange for the "lifetime royalty." It's pretty sad.
Pretty much what happened in the music industry in the late 50s through the 80s.
OhioCatFan
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Posted: 10/11/2024 4:04 PM
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M.D.W.S.T wrote:expand_more
More and more deals are going to be going through layers of LLC's and shadow companies to avoid paper trails.
And, there are those on here who still think that this isn't all going to end in a train wreck. The feds as a general rule aren't fond of folks who try to avoid paper trails when it comes to things like tax liability.
The Optimist
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Posted: 10/11/2024 11:04 PM
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I miss the good ole days when you gave kids cash in brown paper bags and there was no need to get the irs involved
BillyTheCat
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Posted: 10/12/2024 3:12 PM
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Don’t feel bad for one family of athlete that gets taken advantage of. It’s college, a time when you learn life lessons. They getting what they wanted, and many fans are too. I’m just grabbing my popcorn. And these companies are legal in our capitalistic system.
Last Edited: 10/13/2024 9:21:08 AM by BillyTheCat
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