An 18yo is legally an adult whether in high school, college, or working a job.
Here. We. Go.Gym owner plan: $540K to Miami football players
Dan Lambert, a longtime Miami Hurricanes fan who owns MMA gym chain American Top Team, has offered each scholarship player on the Miami football team a monthly payment of $500 this year to advertise his gyms on social media.www.espn.com
Owner of American Top Team (MMA) will pay every Miami football player $500 a month for at least a year, as well as create a business that will raise money to encourage other businesses to pay the players too.
I'm 100% for players getting every dollar they can, but any hope of maintaining some sort of compliance is a pipe dream.
Money talks and BS walks
Pretty much the way that it's been for decades. The only thing that's changed is the size of the checks.
But now they can actually be checks rather than paper bags stuffed with $50s.
I'm not sure what you mean by "compliance" This looks like an above the board application of this new rule. What am I missing?Gym owner plan: $540K to Miami football players
Dan Lambert, a longtime Miami Hurricanes fan who owns MMA gym chain American Top Team, has offered each scholarship player on the Miami football team a monthly payment of $500 this year to advertise his gyms on social media.
Owner of American Top Team (MMA) will pay every Miami football player $500 a month for at least a year, as well as create a business that will raise money to encourage other businesses to pay the players too.
I'm 100% for players getting every dollar they can, but any hope of maintaining some sort of compliance is a pipe dream.
The whole point of NIL is that these individuals have a valuable asset (their name, image, and likeness) that the university has no right to control. That's why the schools can prevent them from using university logos and gear - the whole point is that athletes cash in on their own fame. Having them split their proceeds runs counter to that concept.
"Lambert has also started a corporation, called Bring Back The U, that will be solely focused on putting money in the pockets of Miami football players. He said the company will attempt to rally support from local businesses to hire the players as spokesmen. He says he also plans to host fundraising events and then donate the proceeds to any local business that agrees to use the donation to pay for Miami players as spokesmen."
I get it. lots of creativity out there. But you said compliance and if anything, this is going to make compliance much easier for the NCAA. They pretty much have to worry about nothing when it comes to deals like this. If it's disclosed, it's compliant. And there is no incentive not to disclose other than avoiding taxes, which isn't a huge issue for these guys.
Disagree with your last statement. There will be tax issues we will hear about. Some guy that made big endorsement money, but didn’t make it to the pros. 5 years later is being prosecuted by the IRS. Happens in every walk of life. I know they will be advised, but when kids who had nothing see 25% or more of their earnings going to taxes, some will make a bad decision. JMHO
Honestly the best tweet I saw on July 1 was this one. I'm still giggling.
Oh I don't doubt that. But I highly doubt a business is going to give endorsement money to a kid and fail to disclose the amount.
And most HS players are under 18YOAn 18yo is legally an adult whether in high school, college, or working a job.
Minors Law Law and Legal Definition | USLegal, Inc.
A minor is a person who does not have the legal rights of an adult. A minor is usually defined as someone who has not yet reached the age of majority. In most states, a person reaches majority anddefinitions.uslegal.com
And tax deductible!
I was wondering that as well. I noticed that the twins from Fresno State had an attorney as their spokesman and he was quoted as saying how much they are worth, so he certainly seemed to be acting as an agent.
Except for the ones that aren’t. Which is kind of my point now isn’t it? That’s a rhetorical question. It’s entirely my point and why I don’t think legally it will stand if challenged.
Good question. I can’t see why not.
It's an odd situation with 18 and 19 year olds that are still in high school. While they're adults, schools still need to show parents records and adhere to their wishes. That only changes if the student is legally emancipated. I'm not saying that's what it'll take, but there's a lot more gray area to this than, "They're 18 and can do what they want." It'll take some puzzling out as this continues to develop.
