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Looks like we know why Kentucky’s Oscar Tshiebwe is returning to Lexington next season. The Wildcats star will reportedly be making $2 million through NIL...
He’s the first reigning National Player of the Year to return to college basketball since Tyler Hansbrough did in 2008.

(The Spun)
Filed Under: Kentucky Sports
Originally published on SECRant.com

Comments

12 Comments
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If the NIL can get rid of the one and done, I might be okay with it. Of course, the big schools will get the talent and it might kill any chance at parity.
Reply5 months
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COLLEGE basketball is over
Reply5 months
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rar
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So is the NCAA going to grant extra eligibility for hardship cases...give this guy couple more years. Bet his team mates really appreciate it.
Reply5 months
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I mean, good for him, more than he would make going to the NBA with any contract he would sign. Glad he's back. But as someone who has worked for almost 40 years, it's a SMH moment.
Reply5 months
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KyWildcatfanone, Be better at your job.
5 months
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So this jackass can afford to pay me back $20 for wrecking my bracket? Pay up, Big O.
Reply5 months
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That jackass scored 30 points and grabbed 16 boards. The jackass that ruined your bracket is Calipari.
5 months
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We’ll, that is one positive or NIL. Coming back for another season.
Reply5 months
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I wonder what the IRS is thinking about all of this. At some point scholarships may need to go away too if these kids are making this kind of money. Pell Grants, etc will need to too. Students are going to get fed up having to pay sports related fees too.
Reply5 months
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The collectives paying these are sending them 1099s. The IRS knows what these collectives are for (you have to give them an NAICS number telling them what your business is) and that puts the IRS on notice. You have to send out a 1099 for anything over $600 so a million is not going to fly under the radar. The IRS undoubtedly already knows exactly how much they got paid by the following February. I'd assume the schools that got ahead of the game, have a resource available that says "He Mr. QB... you got paid $XXXXX, here is a quarterly estimated payment voucher to the IRS. Pay them $XXXX by this date because this is pretty much what you will have to pay them on your next tax return" And you phase out of Pell Grants at around 60k a year of family income. These are likely all losing eligibility for the grant right away when they get an NIL deal.
5 months
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Kagtastic, Athletic scholarships aren’t need based. Taking them away based solely on athletes ability to have a 2nd job, which is the definition of NIL, only cements the idea that it’s really just pay for play & should be a cost burden officially paid by the program. You old heads keep struggling in quicksand not realizing that you’re only causing urself to sink quicker.
5 months
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You will see a lot of this across college basketball. Players will see better than second round or foreign money from NIL.
Reply5 months
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