re: New Georgia law legalizing college athlete endorsements allows schools to take athletes $$

quote:

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Georgia is latest state to enact NIL legislation effective July 1, 2021. The law allows teams to require athletes to share NIL revenue w/ their teammates and to hold the payments in escrow until the student graduates or 12 months after the student leaves


So also it's legal to hold their money until they're gone. Who came up with this??

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Its so bizarre that its hard to even talk about which part is worse.

1. its a government "taking" i.e. unconstitutional, its clearly not a tax
2. 25% depending on how much is earned might not cover federal taxes let alone state taxes
3. the state might not have jurisdiction
4. what regulatory agency is making determination?
5. so now earning a scholarship is an public right? And what does the public right have to do with where they earned money?
6. what happens if the student doesn't do what the statute says?


This is straight up theft.

Any school that tries to do this will be blacklisted, will be at a disadvantage and sued with the State.

Some of these State have become like Zimbabwe.