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re: Can LSU compete in a money war
Posted on 12/19/21 at 4:36 pm to MSG
Posted on 12/19/21 at 4:36 pm to MSG
The big problem now is that the NIL rules allow schools that didn't/couldn't/wouldn't/ did know how/ to run the bagman game to now instead put it out in the open under the guise of NIL sponsorship.
To make matters worse, now they can disguise these amounts given by big money boosters as tax-deductable dontations to a nonprofit. So now we have big money tech and oil alumni that can use this as a tax writeoff on top of everything elss.
That being said, the SEC schools have no one to blame but themselves. Many non-SEC schools alumni remember Cam Newton and Johnny Football and their schools, the SEC and the NCAA's toothless responses to their blatantly getting paid.
Now since they have a more "technically" legal avenue to go about it, those alumni at other schools are going to take their shot. The problem now is that the SEC schools have a great regional recruiting hotbed with a longstanding tradition of $100 handshakes and playing the bagman game, but from a pure financial power perspective of alumni are going to lag behind many other schools individually and several conferences as a whole.
So can LSU compete in this environment? That is a great question. Can LSU secure 1-4M annually in donations set aside purely for the team itself (this is not even including individual NIL deals) Can this be done in a manner that will be completely selfustaianble annually without interaction with the LSU AD? Is it possible to set this up at this scale and make sure that none of the old habits of the baggame intrude into the NIL concepts?
The NIL is a problem because state law dictates a lot of what schools can and can't do.
There is a lot of issues out there tied to NIL, and if LSU doesn't want to get left behind the alumni, not the AD, have to driving this.
To make matters worse, now they can disguise these amounts given by big money boosters as tax-deductable dontations to a nonprofit. So now we have big money tech and oil alumni that can use this as a tax writeoff on top of everything elss.
That being said, the SEC schools have no one to blame but themselves. Many non-SEC schools alumni remember Cam Newton and Johnny Football and their schools, the SEC and the NCAA's toothless responses to their blatantly getting paid.
Now since they have a more "technically" legal avenue to go about it, those alumni at other schools are going to take their shot. The problem now is that the SEC schools have a great regional recruiting hotbed with a longstanding tradition of $100 handshakes and playing the bagman game, but from a pure financial power perspective of alumni are going to lag behind many other schools individually and several conferences as a whole.
So can LSU compete in this environment? That is a great question. Can LSU secure 1-4M annually in donations set aside purely for the team itself (this is not even including individual NIL deals) Can this be done in a manner that will be completely selfustaianble annually without interaction with the LSU AD? Is it possible to set this up at this scale and make sure that none of the old habits of the baggame intrude into the NIL concepts?
The NIL is a problem because state law dictates a lot of what schools can and can't do.
There is a lot of issues out there tied to NIL, and if LSU doesn't want to get left behind the alumni, not the AD, have to driving this.
Posted on 12/20/21 at 9:57 am to laxtonto
quote:
now they can disguise these amounts given by big money boosters as tax-deductable dontations to a nonprofit
No they can't. NIL money has to be paid directly to the athlete.
Posted on 12/20/21 at 10:02 am to laxtonto
quote:
To make matters worse, now they can disguise these amounts given by big money boosters as tax-deductable dontations to a nonprofit. So now we have big money tech and oil alumni that can use this as a tax writeoff on top of everything elss.
The money for NIL does not come from the school or any foundation associated with the school. The money is directly from the corporation to the players for a service. So it is not a donation and it is not tax deductible.
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