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
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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
Are these deals basically paid in full at the beginning? Surely they're installations, right?
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.
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.
Got to figure tax season is gonna be tough on some of these kids when they figure out the tax on a 1099
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.
Is a non compete standard with other schools? Makes sense to me if not.
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.
IRS doesn?t operate that way. Math is generally pretty simple on taxes.