For You That Claim To Know

[Spiderman]

Tulu signs with our collective a while back. Are you telling me State's collective didn't put a no compete, ie , sign with another collective, in the contract?

If so, bad business

[msstate7]

Are these deals basically paid in full at the beginning? Surely they're installations, right?

[MetEdDawg]

Tulu signs with our collective a while back. Are you telling me State's collective didn't put a no compete, ie , sign with another collective, in the contract?

If so, bad business

Why would any kid sign that?

The problem is the kid has the university by the balls. I'm not gonna sign your NIL if you put a no compete in or a return if I leave and now I'm going to transfer somewhere else if you don't do what I say.

The problem with this business model is there is always someone willing to pay more or provide more for a talented kid in college football. Now that they realize it, it's more Wild West than it's ever been because there aren't any restrictions on what kids can do.

And with people on this board and elsewhere continuing to double down on never being part of this model, be prepared for that to not change in our favor anytime soon.

[Really Clark?]

They all have a clause concerning being at the university you sign your deal with. If they leave, it's void. And he can't sign another deal until he's enrolled at another school.

[Really Clark?]

Are these deals basically paid in full at the beginning? Surely they're installations, right?

Paid monthly

[msstate7]

Why would any kid sign that?

The problem is the kid has the university by the balls. I'm not gonna sign your NIL if you put a no compete in or a return if I leave and now I'm going to transfer somewhere else if you don't do what I say.

The problem with this business model is there is always someone willing to pay more or provide more for a talented kid in college football. Now that they realize it, it's more Wild West than it's ever been because there aren't any restrictions on what kids can do.

And with people on this board and elsewhere continuing to double down on never being part of this model, be prepared for that to not change in our favor anytime soon.

NCAA really needs to pass the 1-transfer rule they were talking about last week

[Spiderman]

They all have a clause concerning being at the university you sign your deal with. If they leave, it's void. And he can't sign another deal until he's enrolled at another school.

Doesn't answer the question of why they don't put a no compete in the contract

[msstate7]

Got to figure tax season is gonna be tough on some of these kids when they figure out the tax on a 1099

[Really Clark?]

Doesn't answer the question of why they don't put a no compete in the contract

How can you with transfer rules. All we can do is protect ourselves if a player leaves.

[Spiderman]

How can you with transfer rules. All we can do is protect ourselves if a player leaves.

You put in the contract that they can't sign with another collective as long as they have college eligibility. If so they must repay all money received. A standard no compete. If they won't sign it, they won't sign. Better than like Tulu who signs, gets a couple months salary, for doing absolutely zero on the field after signing, and then just up and leaves with the money. Good luck selling people on ...."Hey, give us some money so we can give it to players who can collect until after spring and then just decide to leave with your money."

[Really Clark?]

You put in the contract that they can't sign with another collective as long as they have college eligibility. If so they must repay all money received. A standard no compete. If they won't sign it, they won't sign. Better than like Tulu who signs, gets a couple months salary, for doing absolutely zero on the field after signing, and then just up and leaves with the money. Good luck selling people on ...."Hey, give us some money so we can give it to players who can collect until after spring and then just decide to leave with your money."

Charlie can answer that better but I'm pretty sure that was brought to him before and there's wording that won't allow them to do that because players have transfer rules that superseded that.

[MetEdDawg]

You put in the contract that they can't sign with another collective as long as they have college eligibility. If so they must repay all money received. A standard no compete. If they won't sign it, they won't sign. Better than like Tulu who signs, gets a couple months salary, for doing absolutely zero on the field after signing, and then just up and leaves with the money. Good luck selling people on ...."Hey, give us some money so we can give it to players who can collect until after spring and then just decide to leave with your money."

What do you mean good luck? This is the model that currently exists. It's happening right now every day by the hundreds.

This is the price of doing business. You protect yourself on the backend as best as you can, but with this model, there are no 100% guarantees.

Morality and loyalty do not win with this model. The quicker we all realize that, the faster we can get on board with what actually exists, instead of wishing about what we hoped existed and getting nowhere.

[Todd4State]

Is a non compete standard with other schools? Makes sense to me if not.

[DownwardDawg]

Got to figure tax season is gonna be tough on some of these kids when they figure out the tax on a 1099

It's going to be extremely difficult and a very costly life lesson.

[starkvegasdawg]

It's going to be extremely difficult and a very costly life lesson.

A couple players will scream racism and all of a sudden it will be ruled tax exempt. Doesn't matter if it is or isn't.

[LC Dawg]

Got to figure tax season is gonna be tough on some of these kids when they figure out the tax on a 1099

I'm pretty sure I read that the Bulldog Initiative is going to hold out taxes on their payments to help avoid tax trouble for the players. I'm not sure how it would work with private deals. I wonder if the schools can offer help to the players for this.

[Lord McBuckethead]

At most it is 54% federal and 5% State.
37% federal taxes highest bracket varies on top end/low end
7% FICA
7% FICA employer
3% Medicare

5% State

Surely they all can read a simple marginal tax rate and figure that out on a napkin. Taxes are not that hard.

[Lord McBuckethead]

IRS doesn?t operate that way. Math is generally pretty simple on taxes.

[msstate7]

At most it is 54% federal and 5% State.
37% federal taxes highest bracket varies on top end/low end
7% FICA
7% FICA employer
3% Medicare

5% State

Surely they all can read a simple marginal tax rate and figure that out on a napkin. Taxes are not that hard.

No, it's not hard, but young people aren't exactly great stewards of money to start with. I doubt many of them have ever received a 1099 and know how much they're on the hook for

[Commercecomet24]

Got to figure tax season is gonna be tough on some of these kids when they figure out the tax on a 1099

Yep the G-men will be coming. It's gonna hit some like a ton of bricks

[Commercecomet24]

At most it is 54% federal and 5% State.
37% federal taxes highest bracket varies on top end/low end
7% FICA
7% FICA employer
3% Medicare

5% State

Surely they all can read a simple marginal tax rate and figure that out on a napkin. Taxes are not that hard.

I doubt many of these kids are setting that money aside. Teenagers spend it when they get it and doubt many have hired an accountant

[ScooterDog]

It surely would answer a lot of questions if Charlie W. would simply post a blank sample of our NIL contract. Then, everybody would know what's in it. How about it Charlie?

[parabrave]

I doubt many of these kids are setting that money aside. Teenagers spend it when they get it and doubt many have hired an accountant

Don't worry the uncle, coach or cousins always know how to invest the money.

[MabenMaroon]

A couple players will scream racism and all of a sudden it will be ruled tax exempt. Doesn't matter if it is or isn't.

Tried to give your comment a star, but it said I have to spread it around .............

[Commercecomet24]

Don't worry the uncle, coach or cousins always know how to invest the money.

Oh yeah I forgot all about the concerned people around them who will help guide them through all this, lol.

[parabrave]

Tried to give your comment a star, but it said I have to spread it around .............

There had to rep ya so I could spread it around

[Spiderman]

Charlie can answer that better but I'm pretty sure that was brought to him before and there's wording that won't allow them to do that because players have transfer rules that superseded that.

If I understand the collective is a private entity. Transfer rules should have nothing to do with it

[Really Clark?]

If I understand the collective is a private entity. Transfer rules should have nothing to do with it

Private or not they are only allowed to operate under NCAA rules and state law (if there is one). Again, Charlie can answer it better but it has to do with a collective not being able to sign a deal with a player that forces them to attend or continue to attend a school. We can only protect our money at key deadlines. Transfer portal dates are a part of that. Remember these deals are for name, image and likeness only, not to play for a certain school.

[Homedawg]

Tulu signs with our collective a while back. Are you telling me State's collective didn't put a no compete, ie , sign with another collective, in the contract?

If so, bad business

We backloaded the contract and it's Charlie is a of things. But dumb isn't one of them. Trust me when I say our bi and contracts are in as good of shape as they can be.

[WinningIsRelentless]

The FTC is in the process of outlawing most if not all non competes.