Power 5 approves major change, college athletes set to be paid directly by schools

[Horned Toad]

The NCAA and its five power conferences completed voting Thursday night to approve a settlement agreement that paves the way for universities to pay athletes directly, a change that would crush any last notions of amateurism in major college sports.

MSN

 

[LVH]

Stupid

 

[Limey Frog]

You can't sign contacts for $1B per year in TV money and give $0 to the players. The old college football died slowly every time a conference signed a new mega media deal. If they wanted amateurism they really should have turned down the money.

 

[ECM]

You can't sign contacts for $1B per year in TV money and give $0 to the players. The old college football died slowly every time a conference signed a new mega media deal. If they wanted amateurism they really should have turned down the money.

Or put the money is trusts for the athletes post-graduation, ensured medical coverage for X years after graduation, and approved COL stipends for athletes 20 years before they did.

Instead the NCAA lost every imaginable PR battle for like 30 years and dinged programs when a coach gave a kid a ride to an airport to attend a funeral.

Giving 18-22 year old kids (the vast majority of whom won't play football as a career) a significant cash infusion while they're in college and then sending them out into the real world (maybe with a degree, maybe not) when their eligibility is up should create some interesting (read: not good) situations.

 

[HFrog1999]

You can't sign contacts for $1B per year in TV money and give $0 to the players. The old college football died slowly every time a conference signed a new mega media deal. If they wanted amateurism they really should have turned down the money.

They should’ve kept the old conferences together, retained scheduling control, and only sold TV when aligned with their goals.

But Universities are greedy. Universities should be taxed as for profit businesses. They don’t serve the public good.

 

[Big Frog II]

What a tangled web we weave when we chose to deceive.

 

[Sangria Wine]

But Universities are greedy. Universities should be taxed as for profit businesses. They don’t serve the public good.

ABSOLUTELY!

 

[Endless Purple]

You can't sign contacts for $1B per year in TV money and give $0 to the players. The old college football died slowly every time a conference signed a new mega media deal. If they wanted amateurism they really should have turned down the money.

Of course playing the "they got nothing" card is also a false statement. They got a lot more than 0.

 

[DeuceBoogieNights]

Take away scholarships then. Give them to actual students.

 

[Limey Frog]

Or put the money is trusts for the athletes post-graduation, ensured medical coverage for X years after graduation, and approved COL stipends for athletes 20 years before they did.

Instead the NCAA lost every imaginable PR battle for like 30 years and dinged programs when a coach gave a kid a ride to an airport to attend a funeral.

Giving 18-22 year old kids (the vast majority of whom won't play football as a career) a significant cash infusion while they're in college and then sending them out into the real world (maybe with a degree, maybe not) when their eligibility is up should create some interesting (read: not good) situations.

This is how I would do it. Put the money in a players' trust, divided proportionately by what amount of the contract is earned by that sport (i.e., football players get the money because they make the money). If you start a game at a school covered by the media contract, you earn a share. If you play in the game you earn a half share. When you graduate, all of your shares are paid to you (or paid out over time if you prefer for tax reasons). While you're in school, you're well taken care of with a good living allowance, etc.

 

[JugbandFrog]

Or put the money is trusts for the athletes post-graduation, ensured medical coverage for X years after graduation, and approved COL stipends for athletes 20 years before they did.

Instead the NCAA lost every imaginable PR battle for like 30 years and dinged programs when a coach gave a kid a ride to an airport to attend a funeral.

Giving 18-22 year old kids (the vast majority of whom won't play football as a career) a significant cash infusion while they're in college and then sending them out into the real world (maybe with a degree, maybe not) when their eligibility is up should create some interesting (read: not good) situations.

Agree with the medical coverage. These kids are gonna be asked to play far more games at a far higher level. Some might have issues that impact them for a while after college.

 

[Brog]

Will the money the athletes get be reported to the IRS as income? Will it be taxable? The Federal government is always lurking.

 

[Cougar/Frog]

Will the money the athletes get be reported to the IRS as income? Will it be taxable? The Federal government is always lurking.

NIL is taxable, but most set up a LLC and have it pay for everything and only take a modest salary.

 

[HToady]

The NCAA doesn't seem to take issue with anything anymore....ever since Baylor walked away with no rape punishments, they just seem to cave on all things.
Could have at least said, we'll allow the money, but no more portal....

 

[Dutch]

What a tangled web we weave when we chose to deceive.

There was an old man from Nantucket..eventually he said (you know) it.

 

[Frozen Frog]

This is going to get really interesting. I am fine with creating smaller stipends and allowing coaches to support the athletes within reason. There were far too many incidents where someone was getting paid at the athletes expense. The Fab Five 30 for 30 I think highlighted many of the issues. NIL is already a disaster. The coach's contracts and buyouts are ridiculous. How much money is being diverted from the mission of these schools to fund athletics? Are public funds going to be used to fund athletes at public schools? Is that the best use of taxpayer money? What about scholarships for students who need the money that aren't athletes? How will Title IX work in this mess?

I think a day of reckoning for many schools with athletics is coming. I think some schools will start to drop out of the college athletic rat race. It won't be worth it. I think some taxpayers will start to stand up to these large state schools. The ride is great now, but the cliff is coming.

College sports was destroyed when the NFL and NBA created salary caps and forced kids to go to college rather than opening their doors! I think the smartest thing for universities to do today would be to sue the NBA and NFL for the mess they have created.

 

[ECM]

Will the money the athletes get be reported to the IRS as income? Will it be taxable? The Federal government is always lurking.

Also, do scholarships now become a taxable benefit? If so, that’ll put the SMU and TCUs of the world at a disadvantage relative to public schools

 

[Palliative Care]

The NCAA never really had legitimate authority to make the rules it did when it came to the so called student athletes. This why they folded like a cheap suit when challenged in court. Some lawyers representing the players will now sue them and the schools after next set of rules are set. This is going to be a never ending process. It is all about the money folks and everything else is window dressing.

 

[helcap]

Not sure what this changes since it doesn't end NIL deals or "off the books" deals with Alumni

 

[FROGLEGHOP]

The NCAA never really had legitimate authority to make the rules it did when it came to the so called student athletes. This why they folded like a cheap suit when challenged in court. Some lawyers representing the players will now sue them and the schools after next set of rules are set. This is going to be a never ending process. It is all about the money folks and everything else is window dressing.

Why does a cheap suit fold easier than an expensive suit?