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Started By
Message
re: Shilo Sanders declares bankruptcy following $11M judgment. NIL value in question.
Posted on 5/26/24 at 6:52 am to ragincajun03
Posted on 5/26/24 at 6:52 am to ragincajun03
quote:
think there’s going to be a group that would have otherwise stayed at the same school four years and possibly gotten a free degree, who will now bounce around multiple schools never graduating and then either not making an NFL roster, or making one for less than three years.
Before NIL you saw guys who weren't good enough to start bounce multiple places and never make the NFL.
1
Posted on 5/26/24 at 7:16 am to Bestbank Tiger
So what happens with a civil suit if you never pay? It just sits out there? I knew a guy who lost a civil suit and he was a construction worker. He told me he just gets paid cash now and will never pay that judgement.
Posted on 5/26/24 at 7:50 am to ragincajun03
quote:
I think there’s going to be a group that would have otherwise stayed at the same school four years and possibly gotten a free degree, who will now bounce around multiple schools never graduating and then either not making an NFL roster, or making one for less than three years.
1. The degree isn’t free. Playing big-time college football is hard work.
2. Everyone shits on the player who leaves their school through the portal without admitting they would love to replace a mediocre player who’s been in the program a few years with a better transfer in a heartbeat if it meant winning another game.
Posted on 5/26/24 at 7:52 am to Covingtontiger77
He's just dumb enough to try to misrepresent his assets in his bankruptcy.
Posted on 5/26/24 at 8:24 am to Rendevoustavern
quote:
I was told majority are from very low income groups and have no way to recover from this. It’s pretty terrible
There’s a reason there’s a saying about someone’s checkbook being fricked up.
Posted on 5/26/24 at 9:20 am to Rendevoustavern
quote:was this a conference of CPA’s Who got their degrees at the University of Phoenix?
Multiple CPAs/Agents expressed concern over their clients having to file bankruptcy because they spent all their money and left none for their income tax liabilities.
Posted on 5/26/24 at 11:46 am to HangmanPage1
quote:
So what happens with a civil suit if you never pay? It just sits out there? I knew a guy who lost a civil suit and he was a construction worker. He told me he just gets paid cash now and will never pay that judgement.
There are companies (many of them are collections agencies) that purchase judgements and extract value either through liens against property or garnishments if possible.
Posted on 5/26/24 at 11:56 am to Globetrotter747
quote:
1. The degree isn’t free. Playing big-time college football is hard work.
Your point? They likely aren’t going to college based on their scholastic potential if even admitted at all. Kids that get academic scholarships earned their free ride ahead of time.
Athletes earn it while in college, so yes, getting a free education while being developed and training for pro sports ok too of free tutors, gyms, food, trainers, housing, etc. Is what they are working for.
Stop acting like the law student athletes are some type of victims. They aren’t. In fact 90% probably have no business at these schools based on their actual academic ability. There are some, and I have worked with those myself, but they are by far the exception especially in football and basketball.
Posted on 5/26/24 at 12:15 pm to evil cockroach
quote:
Multiple CPAs/Agents expressed concern over their clients having to file bankruptcy because they spent all their money and left none for their income tax liabilities.was this a conference of CPA’s
Who got their degrees at the University of Phoenix?
He never said the CPA’s claimed the bankruptcy will get them out of their tax liability. He said file bankruptcy because of their taxes.
I took it as they spent all their money and still owe taxes. But because they now have to pay their taxes which aren’t going away, they can’t afford their liabilities like car payments they are under water on. So now they have to file bankruptcy.
Posted on 5/26/24 at 1:21 pm to Geauxgurt
quote:
Your point? They likely aren’t going to college based on their scholastic potential if even admitted at all.
Students of questionable academic standing (and sometimes character) are admitted because fans care about winning and coaches care about their fat contracts a hell of a lot more than they care about whether Johnny Heisman belongs on a college campus.
It's all about winning.
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