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Horned Frog Athletics
Scott & Wes Frog Fan Forum
FWST: ‘There is no wrong.’ TCU’s Patterson delivers NIL message to local business leaders
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<blockquote data-quote="froginmn" data-source="post: 3054206" data-attributes="member: 67577"><p>The thing that strikes me about this development is how quickly it came about, and how little thought has been given to the details. </p><p></p><p>My understanding is that a kid can be paid for use of his name, image, or likeness. What I think that means is that you can compensate a kid for appearing on a billboard in a commercial, a jersey with his name and number, etc. (maybe signing autographs?).</p><p></p><p>What I assume it doesn't allow is $100 handshakes and the like. The NCAA still supposedly has purview over that, and the IRS does as well. </p><p></p><p>I assume that for a kid to get paid legally and within the rules, it would need to be run through a business. Which means 1099's and very trackable income, as opposed to a "gift".</p><p></p><p>Obviously people can and will try to get around that, but between the IRS and the NCAA, wouldn't a kid have someone to answer to if he accepts money that doesn't come through a company?</p></blockquote><p></p>
[QUOTE="froginmn, post: 3054206, member: 67577"] The thing that strikes me about this development is how quickly it came about, and how little thought has been given to the details. My understanding is that a kid can be paid for use of his name, image, or likeness. What I think that means is that you can compensate a kid for appearing on a billboard in a commercial, a jersey with his name and number, etc. (maybe signing autographs?). What I assume it doesn't allow is $100 handshakes and the like. The NCAA still supposedly has purview over that, and the IRS does as well. I assume that for a kid to get paid legally and within the rules, it would need to be run through a business. Which means 1099's and very trackable income, as opposed to a "gift". Obviously people can and will try to get around that, but between the IRS and the NCAA, wouldn't a kid have someone to answer to if he accepts money that doesn't come through a company? [/QUOTE]
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Which team did TCU defeat in the College Football Playoffs?
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Scott & Wes Frog Fan Forum
FWST: ‘There is no wrong.’ TCU’s Patterson delivers NIL message to local business leaders
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