The NIL was setup to allow players to sell their name ,image and likeness for money as long as it did not use the name of their University on their items. I mean the Mafia would money launder by giving guys fake jobs and reporting it as wages instead of payoffs for illicit activities or bribes. In making out a contract with these athletes there has to be some tangible exchange of money for a tangible service . But these huge blanket payments that are being made appear to be going beyond the court decisions that allowed the NIL to exist in numerous states.
If this does get out of hand who says the feds could get involved and call this racketerring ? Are there any fixed guidelines the NCAA has issued to prevent the massive abuses of the intent of the NIL rulings? Blanket payments of 50 grand for every o lineman at Texas? Its only going to get worse.
If the boosters report this as a business expense shouldn't they have to report the transaction to the IRS? How is such an expense reported if the money is simply a bribe to come to the booster's university? To me the mafia analogy isnt far off.
If this does get out of hand who says the feds could get involved and call this racketerring ? Are there any fixed guidelines the NCAA has issued to prevent the massive abuses of the intent of the NIL rulings? Blanket payments of 50 grand for every o lineman at Texas? Its only going to get worse.
If the boosters report this as a business expense shouldn't they have to report the transaction to the IRS? How is such an expense reported if the money is simply a bribe to come to the booster's university? To me the mafia analogy isnt far off.
